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Date: 5/05/06
Start Time: 8:45AM
End Time: 11:45AM
Chair: John Ensminger, Law Office of John Ensminger, Peoria, AZ
8:45am Opening Remarks by the Chair.
Website developments; subcommittee positions.
8:50am Passthrough Tax Treatment for Banks and Trust Companies. This panel will discuss current law limitations on the ability of banks and trust companies to receive passthrough tax treatment and various efforts to expand the availability of such treatment. The panel will also discuss a recent ruling by the OCC that creates uncertainty regarding the status of entities that convert to national banks or national trust companies under the National Bank Act. Moderator: William M. Paul, Covington & Burling, Washington, DC; Michael Novey, Associate Tax Legislative Counsel, Department of Treasury, Washington, DC; Armando Gomez, Skadden Arps Slate Meager & Flom LLP, Washington, DC.
9:50am FASB Developments. The panel will discuss Financial Accounting Standards Board proposals relating to FAS 109, Accounting for Income Taxes, and FAS 13, Accounting for Leases, and the implications on pending tax controversies involving financial institutions, including lease-leaseback, sale-leaseback, and other transactions. Moderator: Michelle Henkel, Alston & Bird LLP, Atlanta, GA. Panelists: Ken Busey, PricewaterhouseCoopers LLP, Washington, DC; Thomas Durham, Mayer Brown Rowe & Maw LLP, Chicago, IL.
10:50am Financial Conglomerates and Product Offerings. The panel will discuss Gramm-Leach-Bliley developments, and what this means for product offerings and product placement inside of conglomerates. Moderator: Philip Cook, Alston & Bird LLP, Atlanta, GA.
LUNCHEON
Date: 5/5/06
Start Time: 12:30PM
End Time: 1:30PM
Speaker: Pamela F. Olson, Skadden Arps Slate Meagher & Flom LLP, Washington, DC
Topic: The Impact of the Tax Reform Commission Proposals on Financial Institutions
SECTION PROGRAM
Date: 5/6/06
Start Time: 2:00PM
End Time: 3:00PM
Tax Reform, Tax Policy and Savings in the 21st Century--What Do Annuities, Credit Cards, Life Insurance and Mutual Funds Have in Common?
A discussion of current tax law treatment of various savings vehicles as well as suggested changes to current law.
Moderator: Tom Quinn, Law Office of Tom Quinn, Boston, MA
Panelists:
John J. Ensminger, Law Offices of John J. Ensminger, Peoria, AZ
Mark Cantor, American Council of Life Insurers, Washington, DC
Joseph F. McKeever, Davis & Harman LLP, Washington, DC
Lisa Robinson, Investment Company Institute, Washington, DC
Sponsored by: Insurance Companies Committee, Banking and Savings Institutions Committee and Investment Companies Committee
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