Unfortunately, since there are no uniformed laws involving unclaimed property, companies will have to deal with each individual state’s rules regarding unclaimed property and such audits.
Cash-strapped states revamping their escheatment rules.
‘One of the largest one-day returns of unclaimed property ever,’ says State Treasurer.
Unclaimed property plays an important role in compliance and SOX.
Rule 10b-18 provides hindrence to stock repurchases and increases transaction costs
New rules aim to provide additional clarity regarding enforcement
These are testing times for cash-strapped companies as American states take an aggressive stance on unclaimed property
Companies at risk for compliance failures as states aggressively pursue unclaimed property
Unclaimed property is a major source of income for some states, but owners retaliate against possession without notification
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