Legislative, Regulatory, Judicial and Accounting Developments

January 2012

  • REGULATORY DEVELOPMENTS
    • Regulators Propose Stress Testing Rules
    • FDIC Approves Final Rule Requiring Resolution Plans
    • Volcker Rule Questioned Further at Congressional Hearing
    • Regulators Issue an FAQ on Interest Rate Risk Management
  • JUDICIAL DEVELOPMENTS
    • Hunnicutt v. Zeneca, Inc. (Update)
  • OTHER DEVELOPMENTS
    • 2013 Budget Proposal Expected on February 13
    • COLI in the News
    • Prudential Agreement Regarding Benefit Pay Practices

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February 2012

  • LEGISLATIVE DEVELOPMENTS
    • Obama Administration FY2013 Budget Proposal and Business Tax Reform Framework
    • New York COLI Franchise Tax Bills
  • REGULATORY DEVELOPMENTS
    • Proposed Changes to Market Risk Capital Rules
  • OTHER DEVELOPMENTS
    • Private Action DMF Suits Against Prudential and MetLife
  • AD HOC LRA – FEBRUARY 13, 2012
    • FY2013 Federal Budget Proposal
  • AD HOC LRA – FEBRUARY 24, 2012
    • President’s Framework for Business Tax Reform

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March 2012

  • REGULATORY DEVELOPMENTS
    • Stress testing Comment Period Extended
    • FRB’s Comprehensive Capital and Analysis Review (CCAR) Results
    • Senate Hearing on International Harmonization of Wall Street Reform
  • LEGISLATIVE DEVELOPMENTS
    • House Republicans FY2013 Budget Proposal
  • TAX DEVELOPMENTS
    • Congressional Report on Income Tax Reform and Tax Base Broadening
  • JUDICIAL DEVELOPMENTS
    • Cowboy Athletic, Inc. v. Lincoln Nat’l Life Insurance
  • OTHER DEVELOPMENTS
    • NY Producer Compensation Disclosure Rule Upheld

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April 2012

  • REGULATORY DEVELOPMENTS
    • FSOC Adopts Rules to Identify SIFI Nonbank Financial Companies
    • FRB Clarifies Financial Activities under Dodd-Frank Title I
    • Volcker Conformance Period Clarified
    • OCC Proposes New STIF Requirements
  • TAX DEVELOPMENTS
    • COLI Notice and Consent PLR
  • JUDICIAL DEVELOPMENTS
    • Baker v. American Greetings
  • OTHER DEVELOPMENTS
    • MetLife Settles Multi-State Exams Related to DMF Usage

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May 2012

  • REGULATORY DEVELOPMENTS
    • New Interagency Stress Testing Guidance
    • New Challenges to Dodd-Frank Implementation
    • Europe Postpones Solvency II Rules
  • JUDICIAL DEVELOPMENTS
    • American Greetings v. Baker (Update)
  • OTHER DEVELOPMENTS
    • NY Emergency Regulation on Unclaimed Life Insurance Benefits

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June 2012

  • REGULATORY DEVELOPMENTS
    • Agencies Release Final and Proposed Capital Rules
    • OCC Releases Final Rules on Removing Credit Ratings in Regulations
    • Agencies Sign Memo On Supervisory Coordination
    • SEC Names New Director of Office of Credit Ratings
    • New Private Systemic Risk Council
  • ACCOUNTING DEVELOPMENTS
    • FASB Proposal on Liquidity and Interest Rate Risk Disclosures
  • JUDICIAL DEVELOPMENTS
    • American Greetings v. Collier (Update)
    • State National Bank of Big Spring v. Geithner
    • National Federation of Independent Business v. Sebelius
  • OTHER DEVELOPMENTS
    • Changes to DMF May Impact Experience-Rating Calculation
  • AD HOC LRA – JUNE 12, 2012
    • Agencies Release Final and Proposed Capital Rules

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July 2012

  • REGULATORY DEVELOPMENTS
    • OCC Corporate Decision on BOLI as Capital
    • SEC and CFTC Swap Rules Further Exclude Insurance Products
    • FSOC Releases Second Annual Report
    • Office of Financial Research Releases Annual Report
  • TAX DEVELOPMENTS
    • IRS Clarifies “Substantial Risk of Forfeiture” under IRC §83
  • JUDICIAL DEVELOPMENTS
    • Collier v. American Greetings (Update)
    • Bancorp Services v. Sun Life and Analect
  • OTHER DEVELOPMENTS
    • EU Commission Proposes New Insurance Commission Disclosures
  • AD HOC LRA – JULY 6, 2012
    • OCC Corporate Decision 2012-11

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August 2012

  • REGULATORY DEVELOPMENTS
    • Agencies Extend Comment Period on Regulatory Capital Proposals
    • OCC Proposes Annual Stress Testing Requirements under Dodd-Frank §165  
    • CFTC/SEC Product Definition Rules Published
    • SEC Abandons Money Market Fund Reform
    • Treasury’s Federal Advisory Committee on Insurance Public Meeting
  • JUDICIAL DEVELOPMENTS
    • Split-Dollar Tax Ruling

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September 2012

  • REGULATORY DEVELOPMENTS
    • Regulatory Capital Proposals Update
    • Basel Committee Basel III Report
    • FSOC Moving Forward with Nonbank SIFI Designation Process
    • IAIS Releases Public Comments on G-SII Designation Methodologies
    • Geithner Letter to FSOC on Money Market Reforms
    • SEC Report on Credit Rating Standardization
    • GAO Examines the FSOC and OFR
  • JUDICIAL DEVELOPMENTS
    • Baker v. American Greetings (Update)
    • Texas Ruling that Life Settlements are not Securities

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October 2012

  • REGULATORY DEVELOPMENTS
    • Regulatory Capital Proposals (Update)
    • OCC Releases Final Rules on Large Bank Stress Testing
    • OCC Finalizes STIF Rule Revisions
  • JUDICIAL DEVELOPMENTS
    • Baker v. American Greetings (Update)
    • U.S. v. Bank of America, Countrywide
  • OTHER DEVELOPMENTS
    • AIG to Pay $300 Million in Unclaimed Property Settlement

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November 2012

  • REGULATORY DEVELOPMENTS
    • Regulatory Capital Proposals Update
    • FSOC Proposes Money Market Funds Reform Options
    • Federal Agencies Release Stress Testing Scenarios
  • JUDICIAL DEVELOPMENTS
    • Baker v. American Greetings (Update)
  • OTHER DEVELOPMENTS
    • FINRA Increases Transparency in the TBA Market for Agency Pass-Through Mortgage-Backed Securities
    • COLI Mystery Novel

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December 2012

  • REGULATORY DEVELOPMENTS
    • Federal Reserve’s New Supervision Framework for Large Financial Institutions
    • OCC Highlights Risks Facing National Banks  
    • SEC Staff Paper on Money Market Fund Reform
  • LEGISLATIVE DEVELOPMENTS
    • American Taxpayer Relief Act of 2012
  • JUDICIAL DEVELOPMENTS
    • Baker v. American Greetings

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