Blog Posts by "JMS Advisory Group"
Michigan Business to Business Exemption Reaches Governor's Desk
Posted on May 18, 2012 by JMS Advisory Group |
Michigan H.B. 4563 has been passed by the legislature and now awaits the governor’s signature. The last action on this bill was on May 15th, when it was presented to Governor Snyder. The bill will provide an exemption from unclaimed property reporting for most accounts-receivable related t...
Tagged: michigan escheat, escheat legislation, unclaimed property exemptions, business to business exemption
New Jersey Lawmakers May Scrap Gift Card Law - CBS News
Posted on May 18, 2012 by JMS Advisory Group |
A recent article posted online by CBS News Money Watch provides an update and interesting perspective on the New Jersey gift card law that has been the subject of much discussion and activity the past several months. Article Link
Tagged: new jersey gift cards, stored value cards, unclaimed property, new jersey escheat
Two Major Securities Transfer Organizations Send Letters to Delaware Governor
Posted on Apr 30, 2012 by JMS Advisory Group |
In response to the Delaware State Escheator’s position regarding the delivery of securities to the state under its Abandoned Property laws, the Securities Transfer Association, Inc. (“STA”), and the Securities Industry and Financial Markets Association (“SIFMA”) rece...
Tagged: delaware unclaimed property, delaware escheat, delaware audit, delaware escheat revenue
MetLife Unclaimed Property Settlement Could Top $700 Million
Posted on Apr 25, 2012 by JMS Advisory Group |
According to this article – the amount “returned to consumers could actually total [more] than $667 million, with the industrial block of 708,000 policyholders resulting in at least $467 million to policyholders or beneficiaries…there could be at least another $200 million in th...
Tagged: life insurance escheat, metlife class action escheat lawsuit, unclaimed property, metlife escheat
Kenya's New Unclaimed Financial Assets Authority - Sound Familiar?
Posted on Apr 24, 2012 by JMS Advisory Group |
Interesting article about how the cash-strapped government in Kenya is raising revenues. Sounds all too close to home… link here
Tagged: unclaimed property, escheat, international escheat, abandoned property
MetLife Settles Multi-State Unclaimed Property Claims for $40 million
Posted on Apr 23, 2012 by JMS Advisory Group |
According to the Wall Street Journal: "MetLife Inc. has agreed to pay $40 million to settle a multistate regulatory probe, in a pact that calls for it to improve its system for identifying unclaimed life-insurance policies on its books. MetLife, the nation’s biggest life insurer by ass...
Tagged: life insurance escheat, metlife class action escheat lawsuit, unclaimed property, metlife escheat
How Does Delaware Raise That Much Revenue Through Escheat?
Posted on Apr 20, 2012 by JMS Advisory Group |
This article explains how Delaware has successfully manipulated its dormancy periods and uses loose/liberal interpretations of its statutes to maximize revenue collections: link here Rest assured, equity agent holder community: this issue is not going away any time soon, and most certainly not w...
Tagged: delaware unclaimed property, delaware escheat, delaware audit, delaware escheat revenue
Delaware Revenue Projections for FY 2013 Are Up
Posted on Apr 19, 2012 by JMS Advisory Group |
Good news for the state I suppose, but not-so-good news for the unclaimed property holder community. By shifting an anticipated $30 million in escheat revenues from FY2012 into FY2013, Delaware’s abandoned property collections are now projected to be $514 million. Article here That’...
Tagged: delaware unclaimed property, delaware escheat, delaware audit, delaware escheat revenue
New Jersey Gift Cards - Is Getting Cash Back the Answer?
Posted on Apr 18, 2012 by JMS Advisory Group |
The editorial board at the New Jersey Star-Ledger seems to think so… article here What is interesting to note is that we’re now seeing media outlet editorials on the New Jersey gift card issues. As if New Jersey legislators don’t have enough voices and opinions to consider alre...
Tagged: new jersey unclaimed property, new jersey gift cards, new jersey escheat law, zip code collection
New Jersey Governor Christie Responds to Gift Card Issues [VIDEO]
Posted on Apr 13, 2012 by JMS Advisory Group |
The poker game over the gift card statute in New Jersey got even more interesting yesterday, as popular New Jersey Governor Chris Christie raised the stakes with this statement regarding retailers leaving the state because of the law: ‘if they want to move out, move out.’ see the vide...
Tagged: new jersey unclaimed property, new jersey gift cards, new jersey escheat law, zip code collection
