For mutual funds, unclaimed property compliance can often get lost amidst the plethora of regulatory compliance obligations that financial services firms face. Nonetheless, it is essential to keep up to date with rapidly changing state escheat laws in order to minimize the risk of costly audits and protect shareholder assets from escheatment. Below are 6 […]
Borrowing from the 2016 Revised Uniform Unclaimed Property Act and the recommendations of Delaware’s own unclaimed property task force, DE SB 13 proposes sweeping changes to Delaware’s unclaimed property reporting and enforcement processes as well as its voluntary compliance initiatives.
We are witnessing a potential shift in Delaware’s position on unclaimed property gift card planning structures (often referred to as “Giftco” structures), which could threaten the hundreds of retailers that have structured their affairs in reliance on Delaware’s historical practice of respecting these structures.