2017 Archives - MB Schoen & Associates

January 2017

JUDICIAL DEVELOPMENTS
- Cost of Insurance Litigation – Palumbo v. Nationwide
- FNB PA v. Transamerica and Clark Consulting – Update
OTHER DEVELOPMENTS
- IRS Proposes Updated Mortality Tables

TAX DEVELOPMENTS
- Treasury Department Report on Tax Treatment of Life Insurance Inside Buildup
- IRS Private Letter Ruling – Variable Contracts (for Individuals) Satisfy Investor Control Rules
REGULATORY DEVELOPMENTS
- Federal Reserve Board Releases Scenarios for CCAR and Dodd-Frank Stress Tests
- Executive Order on Core Principles of Financial Regulation
JUDICIAL DEVELOPMENTS
- COI Litigation – Proposed Class Action Against Lincoln National
- Ongoing BOLI-Related Litigation – Procedural Updates

JUDICIAL DEVELOPMENTS
- Lincoln COI Class Actions
REGULATORY DEVELOPMENTS
- FDIC Vice Chairman Hoenig on a Market-Based Proposal for Regulatory Relief and Accountability
OTHER DEVELOPMENTS
- NAIC Working Group Suspends Work on Unclaimed Life Insurance and Annuities Model Act

TAX DEVELOPMENTS
- Trump Tax Reform Proposal – Core Principles
LEGISLATIVE DEVELOPMENTS
- House Financial CHOICE Act
OTHER DEVELOPMENTS
- FHFA Single Security Initiative – Update
- MetLife Seeks Delay in SIFI Case

TAX DEVELOPMENTS
- Trump Fiscal Year 2018 Budget Proposal
LEGISLATIVE DEVELOPMENTS
- Proposed Bill to Clarify Tax Treatment of Certain Life Insurance Contract Transactions
- H.R. 10 – The Financial CHOICE Act
- Connecticut Law Allows Domestic Insurers to Divide

REGULATORY DEVELOPMENTS
- Treasury Report on Financial Regulation
- FDIC Adopts Supervisory Guidance on Model Risk Management
- Proposed Revisions to Call Reports – No Impact on BOLI
LEGISLATIVE DEVELOPMENTS
- H.R. 10 – The Financial CHOICE Act
OTHER DEVELOPMENTS
- Nebraska Department of Insurance Releases COLI Group Life Form Filing Requirement

JUDICIAL DEVELOPMENTS
- FNB PA v. Transamerica – Summary Judgement Ruling
TAX DEVELOPMENTS
- Joint Statement on Tax Reform
OTHER DEVELOPMENTS
- Basel Consultative Documents Regarding Short-Term Securitizations

REGULATORY DEVELOPMENTS
- OCC Seeks Public Input on Volcker Rule
- Regulatory Capital Treatment of Certain Centrally-Cleared Derivative Contracts
ACCOUNTING DEVELOPMENTS
- Bank Accounting Advisory Series – Update
JUDICIAL DEVELOPMENTS
- FNB PA Appeals District Court Ruling in Favor of Transamerica

TAX DEVELOPMENTS
- IRS Private Letter Ruling on Policyholder Implications of Assumption Reinsurance Transaction
- Tax Reform Framework Released
- Senate Budget Committee Releases Fiscal Year 2018 Budget Resolution
REGULATORY DEVELOPMENTS
- Comment Letter re BOLI Exclusion under Volcker Rule
- Banking Regulators Propose Simplifications to the Capital Rules
JUDICIAL DEVELOPMENTS
- Transamerica COI Litigation – Jury Awards Damages to Plaintiffs
- Lincoln COI Litigation Update
OTHER DEVELOPMENTS
- Senate Passes FSOC Insurance Member Continuity Act
- FSOC Rescinds Non-Bank SIFI Designation of AIG
- NJ Passes Law Requiring Life Insurers to Use Federal Death Master File to Identify Potential Matches

TAX DEVELOPMENTS
- House Tax Reform Legislation Status
REGULATORY DEVELOPMENTS
- OCC Bulletin 2017-45 – Proposed Technical Changes to Annual Stress Test Regulations
- OCC Bulletin 2017-47 – Proposed Rules to Simplify Capital Rules
OTHER DEVELOPMENTS
- NY Enacts New Requirements for Life Insurance Non-Guaranteed Elements
- BOLI Publication – Author Advocates for Elimination of BOLI/COLI Tax Advantages

TAX DEVELOPMENTS
- Senate Expected to Pass Tax Reform Bill
REGULATORY DEVELOPMENTS
- Proposed Revisions to the Consolidated Reports of Condition and Income for June 30, 2018
LEGISLATIVE DEVELOPMENTS
- Financial Regulatory Reform – Senate Banking Committee Announces Agreement
AD HOC LRA – NOVEMBER 2, 2017
- House Releases the Tax Cuts and Jobs Act
AD HOC LRA – NOVEMBER 6, 2017
- Tax Cuts and Jobs Act Summary
AD HOC LRA – NOVEMBER 13, 2017
- Tax Cuts and Jobs Act Summary – JCT Description of Senate Finance Committee Chairman’s Mark
AD HOC LRA – NOVEMBER 16, 2017
- Tax Reform Passes House
AD HOC LRA – NOVEMBER 27, 2017
- Tax Cuts and Jobs Act Summary – Senate Proposal’s Legislative Text

TAX DEVELOPMENTS
- Implications of Tax Cuts and Jobs Act (TCJA) for BOLI/COLI
JUDICIAL DEVELOPMENTS
- FNB PA Voluntarily Dismisses Appeal versus Transamerica
OTHER DEVELOPMENTS
- U.S. Banking Agencies Support Conclusion of Reforms to International Capital Standards
AD HOC LRA – DECEMBER 18, 2017
- Tax Cuts and Jobs Act – Summary of Final Bill Text