Wednesday, May 5, 9:00 - 10:15  view all sessions this time
RISK     view all sessions this track
301-Escheatment: Compliance During Changing Times
States' reactions to recent lawsuits and the economy are significantly impacting escheatment compliance. Requirements for due diligence and reporting are changing as a result of due diligence-related lawsuits. Further, states seeking new revenue are increasing the number and complexity of unclaimed property audits. This session provides information to assist businesses in avoiding unclaimed property liability through achieving and maintaining compliance and implementing liability reduction practices. A question and answer period concludes the session.
Learning Objectives:
Identify potential unclaimed property-related risk issues. 
Consider options for minimizing their company's unclaimed liability. 
Understand the changing "due diligence" environment and how to adapt business practices in response.

 

Karen Anderson, Abandoned Property Services, LLC
Karen Anderson, Senior Compliance Advisor at Abandoned Property Services, LLC (APS), is a 21-year veteran of the unclaimed property industry. In her APS role, Karen guides businesses in achieving and sustaining compliance and in minimizing their unclaimed property liability 
Prior to joining APS, Karen was a vice president at Unclaimed Property Recovery and Reporting (UPRR) where for 12 years she assisted Fortune 500 companies in resolving unclaimed property compliance issues and with annual reporting. Before her years at UPRR, Karen was Illinois unclaimed property administrator for five years and later, the first Director of the National Association of Unclaimed Property Administrators (NAUPA). 

Currently, Karen is Treasurer on the Board of the Unclaimed Property Professionals Organization (UPPO), the Board liaison to the UPPO Finance Committee, a member of the UPPO Bylaws committee, a member of the NAUPA Uniformity and Standardization Committee and a member of the Securities Transfer Association Unclaimed Property Committee. She is a frequent speaker at trade association events, and webinars and has authored numerous unclaimed property articles and publications including a chapter on unclaimed property published in Summer 2007 (and updated in 2009) in A.S. Pratt & Son’s Corporate Treasury Management Manual, entitled, “A Corporate Treasury Professional’s Guide to Unclaimed Property Compliance”. In 2009, Ms. Anderson authored a series of articles about unclaimed property audits that was published by “The Accounts Payable Network”. 

Ms. Anderson holds a law degree from Loyola University of Chicago.