The Following Regulatory Actions Were Taken by Or Filed with the Illinois Department of Financial and Professional Regulation, D

Total Page:16

File Type:pdf, Size:1020Kb

The Following Regulatory Actions Were Taken by Or Filed with the Illinois Department of Financial and Professional Regulation, D ILLINOIS DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION DIVISION OF BANKING BUREAU OF BANKS, TRUST COMPANIES AND SAVINGS INSTITUTIONS REGULATORY REPORT JB PRITZKER - Governor DEBORAH HAGAN - Secretary KERRI A. DOLL - Assistant Director REGULATORY REPORT FOR 5/1/2019 to 5/31/2019 The following regulatory actions were taken by or filed with the Illinois Department of Financial and Professional Regulation, Division of Banking, Bureau of Banks, Trust Companies and Savings Institutions during the above time period. The actions include those involving state chartered banks, foreign banking offices, corporate fiduciaries, foreign bank representative offices, state chartered savings banks and state chartered savings and loans. The Regulatory Report is published monthly by the Illinois Department of Financial and Professional Regulation, Division of Banking. Copies of this report are also available from our web site at www.idfpr.com. Questions concerning the contents of this report may be addressed to the Corporate Activities Section at (217) 785-2900. APPLICATION FOR A CERTIFICATE OF AUTHORITY AMENDMENT FOR A FOREIGN CORPORATE FIDUCIARY Name of Institution/Address Date/Status SVA Trust Company, LLC SVA Plumb Trust Company, LLC 4/12/2019 - Received 3130 W 57th Street, Suite 101 Sioux Falls, South Dakota 4/26/2019 - Accepted Sioux Falls, SD 57108 5/8/2019 - Approval 5/8/2019 - Effective APPLICATION FOR LICENSE TO OPERATE A FOREIGN BANK REPRESENTATIVE OFFICE Name of Institution/Address Office Address Date/Status Gateway First Bank 1952 McDowell Road, Suite 102, 1/25/2019 - Received 244 South Gateway Place Naperville, Illinois 5/3/2019 - Effective Jenks, OK 74037 Signature Bank 111 W. Illinois St. Suite 5015 4/15/2019 - Received 565 Fifth Avenue, 8th Floor Chicago, Illinois 5/20/2019 - Accepted New York, NY 10017 APPLICATION FOR THE USE OF THE WORD "TRUST", "TRUSTEE", OR "FICUCIARY" WITH A BUSINESS NOT ENGAGED IN BANKING OR AS A CORPORATE FIDUCIARY Name of Institution/Address Date/Status TRUST 1989 LLC 4/25/2019 - Received 10905 Olson Road 5/9/2019 - Accepted Belvidere, IL 61008 5/9/2019 - Effective APPROVAL TO MEET LESS THAN 12 BOARD MEETINGS PER YEAR Name of Institution/Address Date/Status Signature Bank Reduce the number of board meetings 5/1/2019 - Received 9450 West Bryn Mawr Avenue less frequently than once each month, but 5/22/2019 - Accepted Suite 300 no less than 6 board meetings per Rosemont, IL 60018 calendar year. CHANGE IN AUTHORIZED CAPITAL STOCK Name of Institution/Address Change Date/Status Oak Bank Reverse Capital Stock 5/15/2019 - Received 1000 N. Rush Street, P.O. Box 5/16/2019 - Accepted 11081 5/24/2019 - Effective Chicago, IL 60611-0081 CHANGE OF CONTROL - STATE BANK Name of Institution/Address Change Date/Status Bridgeview Bank Group To be acquired by First Midwest Bank 1/31/2019 - Received 7940 South Harlem Avenue Chicago, Illinois 1/31/2019 - Accepted Bridgeview, IL 60455 3/26/2019 - Approval 5/9/2019 - Effective Camp Grove State Bank Proposed acquirer Katz Acquisition 5/17/2019 - Received One Main Street Corporation, LLC., Tampa, Florida Camp Grove, IL 61424 Golden Eagle Community Bank To be acquired by Advia Credit Union 4/15/2019 - Received 975 Country Club Road Parchment, Michigan 5/21/1919 - Accepted Woodstock, IL 60098 5/30/2019 - Approval CHANGE OF LOCATION - STATE BANK Name of Institution/Address Former Address Date/Status Signature Bank 9450 West Bryn Mawr Avenue 4/24/2019 - Received 9450 West Bryn Mawr Avenue Suite 300 5/15/2019 - Accepted Suite 300 Rosemont, IL 60018 Rosemont, IL 60018 CHANGE OF NAME - FOREIGN CORPORATE FIDUCIARY Name of Institution/Address Former Name Date/Status Arden Trust Company Reliance Trust Company of Delaware 6/3/2019 - Accepted 2751 Centerville Road, Suite 400 6/3/2019 - Acknowledgement Wilmington, DE 19808 5/14/2019 - Effective SVA Trust Company, LLC SVA Plumb Trust Company, LLC 5/8/2019 - Received 3130 W 57th Street, Suite 101 Sioux Falls, South Dakota 5/15/2019 - Accepted Sioux Falls, SD 57108 5/17/2019 - Acknowledgement 4/30/2019 - Effective MERGER – RESULTING STATE BANK Name of Institution/Address Merging Bank/Address Date/Status First Midwest Bank Bridgeview Bank Group 12/31/2018 - Received 8750 W. Bryn Mawr Ave, Ste 1300 7940 South Harlem Avenue 1/31/2019 - Accepted Chicago, IL 60631 Bridgeview, Illinois 60455 3/26/2019 - Approval 5/10/2019 - Effective Midland States Bank HomeStar Bank and Financial Services 4/9/2019 - Received 1201 Network Centre Drive 303 Section Line Road 5/14/2019 - Accepted Effingham, IL 62401 Manteno, Illinois 60950 Wintrust Bank Oak Bank 3/8/2019 - Received 231 South LaSalle Street 1000 N Rush 3/29/2019 - Accepted Chicago, IL 60604 Chicago, Illinois 60611 5/23/2019 - Approval 5/24/2019 - Effective NOTICE OF INTENT TO ESTABLISH A BANK SUBSIDIARY Name of Institution/Address Name of Subsidiary/Address Date/Status First Midwest Bank BCBC Parking Uptown, LLC 1/16/2019 - Received 8750 W. Bryn Mawr Ave, Ste 1300 4753 North Broadway Street, Chicago, 2/5/2019 - Accepted Chicago, IL 60631 Illinois 5/10/2019 - Acknowledgement First Midwest Bank Bridgeview Capital Solutions, LLC 12/31/2018 - Received 8750 W. Bryn Mawr Ave, Ste 1300 1970 North Halsted Street, Chicago, 2/5/2019 - Accepted Chicago, IL 60631 Illinois 5/10/2019 - Acknowledgement First Midwest Bank Bridgeview Commercial Finance, Inc. 12/31/2018 - Received 8750 W. Bryn Mawr Ave, Ste 1300 4790 South Harlem Avenue, Bridgeview, 2/5/2019 - Accepted Chicago, IL 60631 Illinois 5/10/2019 - Acknowledgement First Midwest Bank Bridgeview Financial Solutions, LLC 12/31/2018 - Received 8750 W. Bryn Mawr Ave, Ste 1300 4753 North Broadway Street, Chicago, 2/5/2019 - Accepted Chicago, IL 60631 Illinois 5/10/2019 - Acknowledgement First Midwest Bank Broadway Clark Building Corporation 12/31/2018 - Received 8750 W. Bryn Mawr Ave, Ste 1300 4753 North Broadway Street, Chicago, 2/5/2019 - Accepted Chicago, IL 60631 Illinois 5/10/2019 - Acknowledgement The Northern Trust Company Northern Trust Pension Trustees 4/16/2019 - Received 50 South LaSalle Street (Guernsey) Limited 5/3/2019 – Accepted Chicago, IL 60603 Trafalgar Court, Les Banques, St. Peter 5/9/2019 - Acknowledgement Port, Guernsey, GYI 3DA .
Recommended publications
  • Superfund Managed Futures Strategy Fund
    SUPERFUND MANAGED FUTURES STRATEGY FUND A Series of Two Roads Shared Trust Fund Class A Class C Class I Superfund Managed Futures Strategy Fund SUPRX SUPFX SUPIX STATEMENT OF ADDITIONAL INFORMATION Dated June 5, 2013 This Statement of Additional Information (“SAI”) is not a prospectus and should be read in conjunction with the prospectus of the Superfund Managed Futures Strategy Fund (the “Fund”) dated June 5, 2013, copies of which may be obtained without charge by contacting the Fund’s Transfer Agent, Gemini Fund Services, LLC, 17605 Wright Street, Suite 2, Omaha, Nebraska 68130 or by calling 1-855-61-SUPER (1-855-617-8737). You may also obtain the prospectus for the Fund by visiting the Fund’s website: Superfund Managed Futures Strategy Fund www.SuperfundUS.com TABLE OF CONTENTS THE FUND 1 TYPES OF INVESTMENTS, STRATEGIES AND RELATED RISKS 1 INVESTMENT RESTRICTIONS 24 POLICIES AND PROCEDURES FOR DISCLOSURE OF PORTFOLIO HOLDINGS 25 MANAGEMENT 26 CONTROL PERSONS AND PRINCIPAL HOLDERS 31 INVESTMENT ADVISER 31 THE DISTRIBUTOR 33 PORTFOLIO MANAGER 34 ALLOCATION OF PORTFOLIO BROKERAGE 35 PORTFOLIO TURNOVER 36 OTHER SERVICE PROVIDERS 36 DESCRIPTION OF SHARES 37 ANTI-MONEY LAUNDERING PROGRAM 37 PURCHASE, REDEMPTION AND PRICING OF SHARES 38 TAX STATUS 39 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 44 LEGAL COUNSEL 44 FINANCIAL STATEMENTS 44 APPENDIX A 45 APPENDIX B 47 THE FUND The Fund is a series of Two Roads Shared Trust, a Delaware statutory trust organized on June 8, 2012 (the “Trust”). The Trust is registered as an open-end management investment company. The Trust is governed by its Board of Trustees (the “Board” or “Trustees”).
    [Show full text]
  • SEC News Digest, 06-16-1965
    "ECURITIES AND EXCHANGE COMMISSION ~W~ IDll@~~1r brief summary of financial proposals filed with and actions by the S.E.C. Washington, D.C. 20549 (In ordorlng ,..II to.t .f R.I..... fr.m Publications Unit, clto numbor) (Issue No. 65-6-12) FOR RELEASE _.::..Ju.=.:n::.;:e=--.:..16..:....:........:;:1..:...96:..;:5_ WELLINGTON FUND IS GRANTED EXEMPTION. The SEC has issued an exemption order under the Investment Company Act (Release IC-4276) permitting Wellington Fund. Inc., Philadelphia, Pa., to issue its shares, without sales charge, for substantially all of the cash and securities of Apex Hosiery Company. The assets of Apex consist entirely of cash and marketable securities with a January 31. 1965, value of approximately $9,000.000. BOISE CASCADE SHARES IN REGISTRATION. Boise Cascade Corporation, 114 S. Tenth St., Boise. Ida •• filed a registration statement (File 2-23706) with the SEC on June 15 seeking registration of 292,237 shares of common stock and 78.150 preferred shares. Of the common stock, 134,690 common shares have been acquired by key management employees pursuant to the exercise of options under the company's Stock Option Plan and Preferred Stock Option Plan; 69.750 are subject to outstanding options; and 37,000 are subject to future options; and 50,797 shares may be issued upon conversion of preferred stock. The 78,150 preferred shares are subject to outstanding options. OLYMPIC LIFE INVESTMENT PROPOSES OFFERING. Olympic Life Investment Co., 136 Marietta St., N. W., Atlanta, Ga., filed a registration statement (File 2-23707) with the SEC on June 15 seeking registration of 2,500,000 shares of common stock.
    [Show full text]
  • Great Plains Trust Company, Inc. (“Great Plains” Or “Respondent”)
    UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES ACT OF 1933 Release No. 10869 / September 30, 2020 INVESTMENT COMPANY ACT OF 1940 Release No. 34037 / September 30, 2020 ADMINISTRATIVE PROCEEDING File No. 3-20113 ORDER INSTITUTING CEASE-AND- In the Matter of DESIST PROCEEDINGS PURSUANT TO SECTION 8A OF THE SECURITIES ACT GREAT PLAINS TRUST OF 1933 AND SECTION 9(f) OF THE COMPANY, INC. INVESTMENT COMPANY ACT OF 1940, MAKING FINDINGS, AND IMPOSING A CEASE-AND-DESIST ORDER Respondent. I. The Securities and Exchange Commission (“Commission”) deems it appropriate that cease- and-desist proceedings be, and hereby are, instituted pursuant to Section 8A of the Securities Act of 1933 (“Securities Act”) and Section 9(f) of the Investment Company Act of 1940 (“Investment Company Act”) against Great Plains Trust Company, Inc. (“Great Plains” or “Respondent”). II. In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Instituting Cease- and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing a Cease-and-Desist Order (“Order”), as set forth below.
    [Show full text]
  • Charles Schwab Trust Company Personal Trust Services
    Charles Schwab Trust Company Personal Trust Services Dear Investor, Thank you for your interest in Schwab Personal Trust Services provided by Charles Schwab Trust Company (CSTC). Administering a trust and investing assets successfully can be a complex and time-consuming process, and choosing the right trustee is one of the most difficult decisions in the estate-planning process. CSTC can serve as sole trustee, co-trustee, or successor trustee, depending on your individual needs and circumstances. Our experienced and knowledgeable team of trust and investment professionals takes its fiduciary duty seriously when thoughtfully carrying out your legacy. The benefits of working with CSTC include: • Objective administration and management of your trust assets according to what you have outlined in your estate plan • Superior client service consistent with Charles Schwab’s commitment to putting the client first • Peace of mind in working with a transparent, responsive, and innovative trust company • Highly competitive, easy-to-understand fees The enclosed documentation provides important information for you to review, including checklists, requirements for CSTC to accept its appointment as trustee, and standard trust provisions that we look for in every trust. If you have questions or would like to discuss your trust situation, call us at 1-877-862-4304, Monday through Friday, from 8 a.m. to 5 p.m. Pacific time. Sincerely, Brian Cook CFP®, CTFA President Charles Schwab Trust Company Charles Schwab Trust Company Personal Trust Planning Steps Thank you for your interest in naming Charles Schwab Trust Company as your trustee. If you are ready to move forward, please review the following requirements and then continue with the checklist that best suits your current situation.
    [Show full text]
  • NAIC STANDARD FORM TRUST AGREEMENT for ALIEN EXCESS OR SURPLUS LINES INSURERS (As Amended January 1, 202207)
    Attachment A NAIC STANDARD FORM TRUST AGREEMENT FOR ALIEN EXCESS OR SURPLUS LINES INSURERS (As Amended January 1, 202207) This Agreement, dated ________________, effective as of _________________ between __________________________, organized and existing under the ___________________, its country of domicile and having its head office at ___________________________ (“Company”), and _________________________, a (banking corporation/national banking association) organized and existing under the laws of _______________________ (“Trustee”); having its principal offices at ___________________________________________________. WITNESSETH: WHEREAS the Company is engaged in the insurance business in its country of domicile and has or will have Policyholders in the United States (U.S.) of America as a result of writing insurance on an excess or surplus lines basis on risks therein; and WHEREAS the Company desires to establish a trust fund in the United StatesU.S. as security for said Policyholders and Third- Party Claimants and to qualify as an eligible or approved excess or surplus lines insurer therein; and WHEREAS, the Trustee is willing to act as Trustee of such trust fund; and WHEREAS, the Trustee agrees to administer such trust fund principally from its office in the City of _____________________________ and the State of ________________. NOW, THEREFORE, the Company has transferred to the Trustee cash in U.S. currency, Letters of Credit, Readily Marketable Securities, or any combination thereof, valued at a total of not less than the Trust Fund Minimum Amount as defined in Paragraph 2.7 of this Agreement on the date hereof, receipt of which the Trustee hereby acknowledges and agrees to hold in trust for the uses and on the conditions hereinafter set forth: ARTICLE 1 DEFINITIONS The following terms used herein shall, unless the context otherwise requires, have the following meanings: 1.1 “AMERICAN United StatesUNITED STATES U.S.
    [Show full text]
  • 15 Years: the Evolution of the Sanibel Captiva Trust Company
    TRUST AND WEALTH MANAGEMENT MINI-FEATURE 15 YEARS: THE EVOLUTION OF THE SANIBEL CAPTIVA TRUST COMPANY n the late 1990s, Al Hanser retired to Sanibel-Captiva for beneficiaries in the future. That’s when Al made Islands after a life-long career in the investment up his mind to put a team together and establish The Iand banking industry. Having served as chairman Sanibel Captiva Trust Company in 2000, becoming and CEO of Resource Bank and Trust Company in founder and chairman. Minneapolis, Minn., he knew the business well. He was “Having met so many talented people here in also senior executive of investment banking at Dain Southwest Florida, I knew this was very doable,” Rausher (now RBC Wealth Management), as well as said Al. “Successful people want to live here, and chairman, CEO and board member of USB Merchant that meant we could attract the level of professionals Bank, and chairman of Hanrow Financial Group, Ltd. necessary to build an outstanding investment and trust Al had clearly earned the reward of relaxing in the team right here, and we did.” They cultivated a Fortune beauty of the barrier islands. But like many successful 500-caliber board of directors and hired accomplished business people, he flunked retirement. professionals, some of whom were coaxed out of an It wasn’t long after Al and wife, Sally, had settled early retirement. Respected banker and investment in Sanibel when he realized there were no dedicated manager Richard Pyle, CFA, is one such expert serving investment or trust services actually on Sanibel- as president of The Sanibel Captiva Trust Company.
    [Show full text]
  • The Trust Companies, National Banks and Surety
    Orphans’ Court of Allegheny County Attorneys and Others Authorized To Execute Bonds and Undertakings For FIDUCIARY AND SURETY COMPANIES APPROVED FOR 2020 Hon. Lawrence O’Toole, A.J. SECTION I __________________________________________________________________ 3 ACTIVE COMPANIES _____________________________________________________ 4 APPROVED CORPORATE FIDUCIARIES ____________________________________ 5 APPROVED CASUALTY and SURETY COMPANIES _________________________ 11 ALIGNED PARTNERS TRUST COMPANY________________________________ 14 RBC TRUST COMPANY (DELAWARE) LIMITED _________________________ 15 AMERICAN HOME ASSURANCE COMPANY_____________________________ 16 AMERIPRISE BANK, FSB ______________________________________________ 20 AMERISERV TRUST and FINANCIAL SERVICES COMPANY _______________ 21 APOLLO TRUST COMPANY ___________________________________________ 23 ARCH INSURANCE GROUP, INC. _______________________________________ 24 ARDEN TRUST COMPANY ____________________________________________ 26 ASPEN AMERICAN INSURANCE COMPANY_____________________________ 29 ATLANTIC SPECIALTY INSURANCE COMPANY’S _______________________ 31 CIBC NATIONAL TRUST COMPANY. ___________________________________ 34 BANK OF AMERICA, N.A. _____________________________________________ 43 BERKLEY INSURANCE COMPANY _____________________________________ 44 BESSEMER TRUST COMPANY, N.A. ____________________________________ 46 BROWN INVESTMENT ADVISORY & TRUST COMPANY __________________ 47 THE BRYN MAWR TRUST COMPANY __________________________________ 48 CHARLES SCHWAB
    [Show full text]
  • Fidelity Management Trust Companysm Our Investment Management Business and Policies
    Fidelity Management Trust CompanySM Our Investment Management Business and Policies As of March 31, 2021 This document provides important information for clients investing in commingled pools and separate accounts managed by Fidelity Management Trust Company. The information contained in this document has not been approved or verified by any securities, banking, or regulatory authority. MATERIAL CHANGES Material changes since this document was issued on March 20, 2020 are described below: • Updates have been made to the "Other Financial Industry Activities and Affiliations" section to reflect Digital Brokerage Services LLC as an affiliated broker-dealer. • Updates have been made to describe the types of asset management services and products that Fidelity manages. • Updates have been made to the Transactions with Certain Brokers disclosure in the "Brokerage Practices" section to address exchanges that FMTC or its affiliates have an interest. Table of Contents About Fidelity Management Trust Company……………………………………………………….….. 4 Fees and Compensation……………………………………..………………………………………….. 5 Performance-Based Fees and Side-by-Side Management………………………………………….. 6 Methods of Analysis, Investment Strategies, and Risk of Loss……………………………………… 7 Disciplinary Information……………………………………………………………………………….…. 12 Other Financial Industry Activities and Affiliations……………………………………………...…….. 12 Code of Ethics and Related Policies, Participation or Interest in Client Transactions, and Personal Trading……………………………………………………………………. 17 Brokerage Practices………………………………………………………………………………………
    [Show full text]
  • Private Equity Direction of Investment
    PRIVATE EQUITY DIRECTION OF INVESTMENT WHEN TO USE THIS FORM IMPORTANT! The purpose of this Private Equity Direction of Investment form is to Equity Trust Company does not investigate, sponsor, or endorse any initiate an investment within your retirement account at Equity Trust investment product. You assume sole responsibility for the success Company for one of the following: or failure of your investments. You are responsible for directing the investment of assets in your account. Equity Trust Company does not provide any investment advice, or recommend or evaluate the • Limited Partnerships • Private Stocks merits or suitability of any investment. • Limited Liability • C-Corporations Companies If Equity Trust Company’s services were suggested by a financial rep- • Joint Venture resentative, such person is not an agent, employee, representative, or • Land Trusts affiliate of Equity Trust Company. Equity Trust Company is not responsi- If the investment that you are purchasing is not listed above, this ble for and is not bound by any representations, warranties, statements may not be the correct form for your purchase. For assistance please or agreements made by any financial representative. contact a Client Service Representative at 877-693-8208. INSTRUCTIONS & GUIDELINES SUPPORTING DOCUMENTATION This Direction of Investment form provides all of the information Submit the following required documents with your Direction of In- necessary to make a formal investment request. This request is vestment packet: (Sorted by Investment Type)
    [Show full text]
  • THE DEPOSITORY TRUST COMPANY Disclosure Framework for Covered Clearing Agencies and Financial Market Infrastructures
    THE DEPOSITORY TRUST COMPANY Disclosure Framework for Covered Clearing Agencies and Financial Market Infrastructures December 2020 ADVANCING FINANCIAL MARKETS. TOGETHER.TM DTCC Public (White) THE DEPOSITORY TRUST COMPANY: Disclosure Framework for Covered Clearing Agencies and Financial Market Infrastructures Responding Institution: The Depository Trust Company (“DTC”) Jurisdiction: State of New York, United States of America Authorities: U.S. Securities and Exchange Commission; Federal Reserve Bank of New York; New York State Department of Financial Services Except as noted in Section II, the information provided in this Disclosure Framework is accurate as of December 31, 2020; financial information and certain other data are provided as of the dates specified. This Disclosure Framework can also be found at www.dtcc.com. For further information, please contact [email protected]. Page 2 DTCC Public (White) THE DEPOSITORY TRUST COMPANY: Disclosure Framework for Covered Clearing Agencies and Financial Market Infrastructures Table of Contents Executive Summary ......................................................................................................................... 5 Summary of Major Changes since the Last Update of the Disclosure ............................................ 6 General Background of DTC and Key Metrics ............................................................................... 7 Principle-by-Principle and Standard-by-Standard Summary Narrative Disclosure ....................... 14 Principle 1:
    [Show full text]
  • First Trust Exchange-Traded Fund V PROSPECTUS
    First Trust Exchange-Traded Fund V PROSPECTUS First Trust Managed Futures Strategy Fund Ticker Symbol: FMF Exchange: NYSE Arca First Trust Managed Futures Strategy Fund (the “Fund”) lists and principally trades its shares on NYSE Arca, Inc. ("NYSE Arca" or the "Exchange"). Market prices may differ to some degree from the net asset value of the shares. Unlike mutual funds, the Fund issues and redeems shares at net asset value, only in large blocks of shares called "Creation Units." The Fund is a series of First Trust Exchange-Traded Fund V (the “Trust”) and an actively managed exchange-traded fund organized as a separate series of a registered management investment company. Except when aggregated in Creation Units, the shares are not redeemable securities of the Fund. The Securities and Exchange Commission and Commodity Futures Trading Commission have not approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense. NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE May 3, 2021 Table of Contents SummaryInformation............................................................................... 3 Additional Information on the Fund's Investment Objective and Strategies . ................................13 FundInvestments...................................................................................13 RisksofInvestingintheFund.........................................................................14 Fund Organization ..................................................................................24
    [Show full text]
  • How the Rich Stay Rich: Using a Family Trust Company to Secure a Family Fortune
    University of Tennessee, Knoxville TRACE: Tennessee Research and Creative Exchange College of Law Faculty Scholarship Law February 2013 HOW THE RICH STAY RICH: USING A FAMILY TRUST COMPANY TO SECURE A FAMILY FORTUNE Iris Goodwin university of tennessee, [email protected] Follow this and additional works at: https://trace.tennessee.edu/utk_lawpubl Part of the Law Commons Recommended Citation Goodwin, Iris, "HOW THE RICH STAY RICH: USING A FAMILY TRUST COMPANY TO SECURE A FAMILY FORTUNE" (2013). College of Law Faculty Scholarship. https://trace.tennessee.edu/utk_lawpubl/57 This is brought to you for free and open access by the Law at TRACE: Tennessee Research and Creative Exchange. It has been accepted for inclusion in College of Law Faculty Scholarship by an authorized administrator of TRACE: Tennessee Research and Creative Exchange. For more information, please contact [email protected]. HOW THE RICH STAY RICH: USING A FAMILY TRUST COMPANY TO SECURE A FAMILY FORTUNE Iris J. Goodwin * He started a story that began, "The very rich are different from you and me." Someone said, "Yes, they have more money." - Ernest Hemingway, The Snows of Kilimanjaro We’re not a family… we’re a firm! - King George VI about the British Royal Family 1 This Article is about family trust companies and the way they are used by very wealthy families to preserve great fortunes. A family trust company is a corporation formed to provide fiduciary services to a single family or related group of people, in contrast to banking institutions established to offer similar services to a larger public. The province of the mega-rich (who remain very much upon the American landscape, the recent economic crisis notwithstanding 2), the family trust company is generally thought to be a vehicle for families with a net worth of at least $200 million.
    [Show full text]