Transcript
MBA
Massachusetts Bankers Association
Achieving Unclaimed Property Compliance Best Practices for the Banking Industry
Webinar February 10, 2015, 2:30-4:30 PM
Get ready for the fall escheat reporting season! When unclaimed property is not correctly managed, the risk of audits, fines and penalties becomes a reality. This webinar will help you better manage and control this important compliance responsibility.
The normal, everyday operation of your institution results in the generation of unclaimed financial obligations, where customer accounts that are not properly tracked and checks that are not cashed or remain outstanding, may become reportable as unclaimed property. When unclaimed property obligations are not correctly aged, managed and reported, the risk of state audits, subsequent fines and penalties become a distinct reality. Unclaimed property compliance is especially critical for financial institutions because it typically impacts their number one asset: customer relationships. There are more than 100 property types and 54 legal jurisdictions where you may have obligation to file an unclaimed property report. Though it might initially seem overly complex and overwhelming, there are some basic steps that you can take to help your institution become more compliant with the laws. This webinar provides an overview of the law and basic tips to better manage and control this important compliance responsibility. The program is being presented at the national level and does not reflect any particular state’s law.
Highlights
History and background of the law
Where and how to file your reports
Property types applicable to the law Due diligence requirements
Speakers
Maureen Ferrari, Vice President of Operations, Keane and Barbara Rice, State Bank Compliance Liaison, Keane.
What is a Webinar?
A webinar is an online seminar featuring audio, PowerPoint and interactive features. It may viewed on most devices (computer, tablet or smartphone). Live Webinar Option - Each Live Webinar registration provides one connection to the webinar, materials and access to the On-Demand Webinar for 30 days. You will be able to ask the speaker questions during the broadcast. You will receive instructions and materials prior to the seminar. On-Demand Webinar Option - An On-Demand Webinar is a recorded webinar that can be viewed at your convenience (24/7). With an On-Demand Webinar registration, you may view the program for 6 months (access to the live webinar is not included). Add
[email protected] as a safe sender on your email or have your IT Administrator add mail. confedge.com to the SPF records or to your email system whitelist to ensure that you receive emails from the registration system.
Support: (for faster service please submit via email or online): Registration Questions: Email:
[email protected], Phone: (877) 988-7526; Broadcast Questions: Phone: 281-500-4065 x 1, Online: http://support.omnovia.com; Content Questions contact MBA 617-523-7595. Transmission, retransmission or republishing of the audio portion of the seminar is prohibited. Your registration entitles you to 1 connection at 1 location with permission to copy materials for participants. Complete one registration per location.
Please check all appropriate boxes
SW2-1345 February 10, 2015 $530 nonmem $560 nonmem
Service charges and fees
Unclaimed Property Compliance Live Webinar $265 mem On-Demand Webinar* $280 mem
New legislative changes and reporting deadlines
We cannot guarantee registration for incomplete and/or illegible registration forms received. Please complete the form and type or write carefully.
Determining and tracking dormant accounts Safe deposit box contents
*Unlimited online access to a copy of the webinar for 6 months from purchase date
Recent state inforcement efforts (tracking inactivity vs. RPO)
______________________________________________ Name Title ______________________________________________ Bank/Company ______________________________________________ Mailing Address ______________________________________________ City/State/Zip ______________________________________________ Phone/Fax ______________________________________________
How to prepare for/avoid an audit Fines & penalties
Best practices & tips for retaining your customer/accounts
Why Participate?
This program provides an overview of unclaimed property reporting requirements, recent enforcement actions, legislative and legal updates, best practices and tips for filing reports, tracking accounts, retaining your customers/accounts and more. It will help you and your bank: Avoid Reputational Risk Avoid Prematurely Closing a Customer’s Accounts Avoid fines and penalties Prepare for or Avoid an Audit
Audience
Anyone charged with the oversight, management and reporting responsibilities associated with unclaimed property compliance; including operations officers, risk management, compliance and internal auditors.
E-mail
Three Ways to Register Online: Mail: Phone:
https://bankers.confedge.com/ap/reg/?i=register&e=4E3AAFC6- 994B-47B4-9900-267864022165&grp=MA Mail completed form with check payable to ConferenceEdge: (Mail 10 days prior to event) ConferenceEdge, 1516 Xavier St., Ste 500, Denver, CO 80204 Call ConferenceEdge at (877) 988-7526 (credit card payments only)
Payment Must Accompany Registration - Invoices are Not Provided
