Read All About The Corporate Transparency Act! Now in the Latest Issue of Delaware Banker Magazine!

The Corporate Transparency Act was passed in Fiscal Year 2021 in an effort to “better enable critical national security, intelligence, and law enforcement efforts to counter money laundering, the financing of terrorism, and other illicit activity.” Prior to the enactment of the CTA, the United States did not have a uniform system requiring individuals or entities to disclose information regarding those who establish or beneficially own entities that are formed or operate within the country. Times have changed. Pursuant to the CTA and the final regulations issued by the US Department of the Treasury’s Financial Crimes Enforcement Network on September 30, 2022, every “reporting company” will soon be required to submit a report to FinCEN. It is time to become familiar with the CTA and the Regulation, and how this may affect you, your clients and customers.

Read the full article by Morris, Nichols, Arsht & Tunnell's J. Zachary Haupt and Anne Grae Martin in the lastest issue of Delaware Banker!

Last Call for Registrations!

UD Trust Management Minor Golf Classic - June 12 - Register - Sponsor - Donate - Volunteer!

Please join us on June 12, 2023 for a fun day at Hartefeld National for the inaugural University of Delaware Trust Management Minor Golf Classic.  Please reach out to Jennifer McCloskey at 302-528-8317 or lerner-trustmanagement@udel.edu with any questions. Registration closes June 5th!

Taylor Bank Announces 2023

Calvin B. Taylor Memorial Scholarship Recipients

Cory Walsh, AVP, Loan and Business Development Officer, Doreen Angelo, AVP, Relationship Officer and Branch Manager, and Teri Smith, Operations Supervisor, presenting the scholarship certificate to Mallory Justice, along with her parents, Greg and JoAnn Justice, at the Bank’s Ocean View, DE Branch.

Taylor Bank has selected three area high school seniors as recipients of the Calvin B. Taylor Memorial Scholarship. The scholarship is for $1,000 towards continuing education expenses and is based on student accomplishments in the areas of academics, leadership, community service, extracurricular activities, and an essay.

One student was selected from each county in the Bank’s service area: the Indian River School District of Sussex County, DE, Worcester County, MD and Accomack County, VA. This year’s recipients include:

Mallory Justice, graduating from Indian River High School, anticipated field of study: business administration;

Ethan Scott, graduating from Pocomoke High School, anticipated field of study: business management; and

Claire Holland, graduating from Holly Grove Christian School, anticipated field of study: agricultural business and mechanization.

“We are thrilled to support these well-deserving students in their pursuit of higher education and can’t wait to see them develop into the next generation of leaders,” said Raymond M. Thompson, President and CEO of Taylor Bank. “Congratulations to all of the graduating seniors in our community on their tremendous accomplishments.”

Debt Ceiling Deal: Key Takeaways

Republican leadership and the White House spent the weekend securing bipartisan support for a deal that would avoid a U.S. default. While the path of legislation remains uncertain, members of both parties have expressed confidence in the likelihood of its passage. If successful, the bill could be signed into law before the June 5 X-Date, or when the government is estimated to no longer be able to pay its bills.

WSFS Cyber Podcast: Tips to Protect Yourself from Social Engineering Like Romance Scams

Love is in the air as wedding season heats up alongside the weather.

But if you’re the unlucky victim of social engineering, which is when scammers manipulate their victims psychologically to get them to provide sensitive information, you may be left with more than just a broken heart.

One type of social engineering in particular, romance scams, cost victims $1.3 billion in 2022, according to the Federal Trade Commission, so it is vital to remain vigilant of social engineering tactics.

Listen to this podcast with Robert Eastwood, SVP, Chief Information Security Officer, and Michael Dzielak, SVP, Director of Financial Crimes, WSFS Bank.

Two Gordon, Fournaris & Mammarella, P.A. Attorneys Named as 2023 Super Lawyers

Peter Gordon and Kimberly McKinnon have been named to the 2023 Delaware Super Lawyers list. Peter was recognized for his work in Tax and Estate Planning & Probate; Kim was recognized for her work in Estate Planning & Probate. Every year, the team at Super Lawyers selects outstanding attorneys who have attained a high degree of peer recognition and professional achievement. For more information, visit SuperLawyers.com and gfmlaw.com.

McCollom D’Emilio Smith Uebler Attorneys Named 2023 Delaware Super Lawyers

McCollom D’Emilio Smith Uebler LLC Members Matthew P. D’Emilio and Thomas A. Uebler, have been recognized as 2023 Delaware Super Lawyers. Associates Tara S. Hersh and Adam J. Waskie have been recognized by Super Lawyers as 2023 Rising Stars. Matt, Tom, Tara, and Adam join the top %5 of attorneys practicing in the state of Delaware to be recognized by Super Lawyers in 2023.

36 Richards, Layton & Finger Attorneys Ranked in Chambers USA

Thirty-six Richards, Layton & Finger attorneys have been recognized for preeminence in their fields by Chambers USA, one of the world’s most respected legal directories. “A pillar of the Delaware bar” (Chambers USA, 2023), Richards Layton has more attorneys listed in Chambers, and more ranked in Band 1, than any other Delaware firm.

In addition to the attorney rankings, Chambers has recognized six of the firm’s practice areas for excellence, with our Bankruptcy/Restructuring, Chancery, Corporate/M&A & Alternative Entities, Intellectual Property, and Real Estate practices all receiving the guide’s highest Band 1 ranking.

Morris Nichols Attains Band 1 Ranking in Four Delaware Practices in Chambers USA 2023; 28 Attorneys Recognized Among Leading Delaware Lawyers

Morris Nichols maintains its prominent position in the latest edition of Chambers USA 2023, released today, appearing in Band 1 in four Delaware practice areas: Bankruptcy/Restructuring, Chancery, Corporate M&A & Alternative Entities, and Intellectual Property. For the past 15 years, the firm has consistently achieved Band 1 ranking in these four core practice areas, a testament to Morris Nichols’ longstanding success.

Twenty-eight Morris Nichols lawyers were recognized as leaders in their field in Delaware, accounting for nearly one-third of the firm’s talented practitioners. Partners Derek Abbott and Jack Blumenfeld received special recognition as “Star Individuals,” a distinction given to attorneys with exceptional recommendations.

Chambers USA Recognizes Morris James as 2023 Leading Law Firm

Chambers USA has, once again, recognized Morris James as a leading Delaware law firm for its preeminence, achievements, and client service in the practice areas of bankruptcy & restructuring, chancery, labor and employment, land use, and real estate.

Additionally, 13 Morris James attorneys were ranked as Delaware leading lawyers for their practices in the areas of bankruptcy & restructuring, chancery, intellectual property, labor and employment, land use, and real estate.

Pinion Delaware Presents New Video Series:

Let's Talk Trusts!

Presenting our brand-new series Let's Talk Trusts! In this series Theresa Hughes will introduce you to the basics of personal trusts. A big thank you to Short Order Production House for bringing to life Theresa’s vision of educating the public about the value of including personal trusts in estate planning.

Long Time Liquidity Management Experts Launch a United Brand and Website

Reich & Tang Deposit Solutions and Total Bank Solutions, leading providers of tech-enabled liquidity management, deposit funding, and securities-based lending programs, today announced their rebranding of the combined firm as R&T Deposit Solutions (“R&T”). The new brand represents the union of two industry leaders with a secure and unified platform and commitment to deliver innovative solutions to meet the evolving needs of the firm’s bank, credit union, trust and wealth management clients.

“I am thrilled to unveil our new brand and website,” says Joseph Jerkovich, CEO. “This latest chapter marks a significant milestone in our journey and reflects our unwavering commitment to delivering cutting-edge solutions. This is the start of a broader marketing campaign to raise the awareness of our firm, our people, and our capabilities. With an unwavering focus on our clients and their needs, we are poised to continue our positive momentum.”

The Crypto Exchange Podcast:

Crypto Enforcement Actions

In this episode of The Crypto Exchange, Troutman Pepper Partner Ethan Ostroff welcomes his colleague Mike Lowe to discuss crypto enforcement actions, including criminal enforcement actions related to cryptocurrency. Mike shares his experience in crypto enforcement during his lengthy tenure as a federal prosecutor.