No matter which industry you are in, we customize our services to meet your need for audits, VDAs, consulting on all escheat matters, annual reporting and compliance, owner reunification, and corporate asset recovery. We have a successful track record managing various unclaimed property situations, including unique property types, unusual operations and transactions, high-volume environments, and common and uncommon processes. And we do this securely and accurately. Let us put the experience we’ve gained to work for you.
Financial Services & Insurance firms have distinct types of property which require complex analysis and reporting processes. Our experienced team will help navigate these unique hurdles and ensure clients understand the complexities, risks and ‘gray’ statutory provisions needing to be considered for compliance. Through advanced outreach programs, our owner reunification team helps reduce liability, drive customer retention, and comply with additional statutory requirements such as SEC Rule 17Ad-17 and DMF matching or advanced mortality searches. We have experience working with all types of firms and sectors including Banks, Mutual Funds, Broker/Dealers, Credit Unions, Transfer Agents, and other Financial Service and Insurance firms.
Heavy merger and acquisition activity, complex entity structures, current pay provisions, mineral rights, and many unique reporting requirements are only a few of the challenges companies in these industries face when seeking to comply with unclaimed property statutes. These challenges are often amplified by high transaction volumes, a large customer base, transient property owners and frequent audit activity. Our experts will partner with you to ensure you have a compliance process that will effectively navigate these challenges and reduce the risk that non-compliance places on your organization.
The intersection of providers, patients and customers, complicated billing systems and customer payment protocols create the possibility for accounting and other errors to occur that may ultimately result in unclaimed property exposure. Combined with increased M&A activity and a constantly changing statutory environment, this complexity creates a perfect storm for compliance headaches. Partnering with us allows you to create upstream protocols to identify and remediate amounts before they become unclaimed property, and downstream policies and procedures that ensure you identify, analyze and process your unclaimed property in accordance with all statutory requirements. These combined protocols remove the stress of unclaimed property compliance allowing you to focus on your number one priority, your business.
Complex customer or vendor relationships, rebate programs, and the unique accounting processes within these industries can complicate the unclaimed property compliance process and create unforeseen audit risks. Our experts work extensively with Manufacturing and Distribution companies of all types and sizes. We help you understand how each of your programs, relationships, decisions, and processes will be impacted by unclaimed property statutes. We seek to learn the unique aspects of your business and help you proactively manage unclaimed property compliance.
Media, Entertainment & Communications companies have numerous complexities including important advertiser relationships and a heavy amount of transaction volume due to their wide customer base that can create unclaimed property risk. Furthermore, these sectors may require more complex analysis through some of their unique offerings such as gift card programs, account rebates, residual payments, licensing arrangements, leases, or virtual currency. We have many clients in these sectors and enjoy collaborating with team members to ensure holistic unclaimed property compliance.
High transaction volume and an often-transient workforce in the Retail, Travel, and Hospitality arenas can be a heavy driver in the amount of unresolved liabilities that may need to be considered for unclaimed property. Furthermore, these businesses often have unique types of property such as gift cards, merchandise credits, virtual currency, promotional programs, patron accounts and many more. We have worked with numerous organizations to create compliance programs to meet their distinct needs.
Constant changes in the technology and software space require companies in these industries to regularly evaluate their compliance with a rapidly changing business and legislative environment. New unclaimed property statutes and regulations, and the increasing number of unclaimed property audits require a laser focus on remediating amounts due before they create potential exposure. Our experts assist in locating the types of unclaimed property that may be generated in this space and will advise your team as it relates areas such as reseller agreements, stored-value programs, subscription services, virtual currency, physical & electronic cards, in-game credits, and promotional certificates/programs. Teaming with MarketSphere allows businesses to take preemptive action to address their risks and ensure continuing compliance with all unclaimed property statutory requirements.
Due to increased globalization and rapid technological advancements, the transportation and logistics industry and its various subsectors face continual change. Managing how these changes impact unclaimed property compliance can be a constant distraction from your true focus. We partner with you to ensure these impacts are proactively addressed to keep you in compliance and shield your organization from undue unclaimed property exposure.