Terence Keyes, Asia head of the general execution
group for Bank of America Corp (NYSE: BAC), is to re-join Morgan Stanley (NYSE: MS).
The company should formally audit and grade its performance in each of the fundamental underwriting process areas, including the impact of tougher and more consistent underwriting guidelines, re-underwriting programs keyed to eliminating risks that do not meet the target customer profile, implementation of risk-control engineering policy/guidelines, actions taken to address agent loss-ratio performance and means to improve general execution
of underwriting policy.
The 174 amendments tabled were not finally addressed, and the final text covers the general execution
of the 1998 Budget as well as the four irregularities initially considered.
Call the Better Business Bureau; go through local court records to check general execution
dockets and plaintiff/defendant listings; and contact state and local registration/qualification/licensing bodies.