Unclaimed Property Audit (34 articles)
In a new opinion released by the Delaware District Court hearing Temple-Inland, Inc. v. Cook, several challenges to current Delaware audit methodologies have survived motion by the State for dismissal, giving a boost to holders and holder advocates who believe current estimation and other audit methodologies run afoul of constitutional protections.
Unclaimed Property Settlement Reached After Multi-State Audit In late December 2014, Morgan Stanley and its affiliated companies became the first brokerage firm undergoing a multi-state unclaimed property audit to agree to the use of the Social Security Administration’s Death Master File (“DMF”) or state vital statistics records to identify deceased account owners as a means […]
Seemingly empowered by the audit of the life insurance industry, unclaimed property auditors have turned their attention to the mutual fund industry with a focus on identifying Individual Retirement Account (IRA) owners who may have died. Massachusetts State Treasury Requests National Records In recent months, the Massachusetts State Treasury has demanded mutual fund records in […]