In a letter following up on a recent meeting between ABA and the Securities and Exchange Commission, ABA called for greater clarity on Rule 17Ad-16, which relates to expectations for notice of assumption responsibilities of indenture trustees, in order to reduce unnecessary operational burden.
A recent study found that 75.1% of millennials are opting for will-based estate plans and 18.8% are using a trust-based estate plan.
How is the trust services sector positioning itself to serve the next generation of wealth clients?
In an interpretive letter issued today, the OCC confirmed that national banks and federal savings…
The FDIC board today approved a proposal to simplify the deposit insurance rules for deposits of trusts and mortgage servicing accounts. Comments on the proposal will be due 60 days after publication in the Federal Register, and the American Bankers Association will file a comment letter.
From the ongoing generational wealth transfer to new “wealthtech” solutions and investor demands for sustainability and diversity, big changes are happening in the wealth management sector.
The Securities and Exchange Commission today approved amendments to the definitions of “accredited investor” under Regulation D and “qualified institutional buyer” definition under Rule 144A.
In a comment letter last week, ABA offered feedback on a recent IRS proposal to address the treatment of deductions by non-grantor trusts and estates after changes made by the 2018 tax reform law.
Nerre Shuriah of First Citizens Bank explores how to deliver a relationship-based, community banking asset management service in an environment of fee and commission compression.
In a letter to the OCC today, the American Bankers Association offered support for several proposed rule changes, including those sought by the association during the Economic Growth and Paperwork Reduction Act feedback process.