Unclaimed Property & the Reporting of Assets Based on Inactivity

SIFMA provides comments to the Governor of Delaware on Delaware’s ruling on unclaimed property and the reporting of assets based on inactivity.  SIFMA seeks to work with the State of Delaware to modify this rule so that the its member firms can continue to appropriately administer to individual investors.  SIFMA believes that the potential negative consequences for consumers of the State Escheator’s interpretation of the law warrant the Governor’s consideration in amending the law, or at a minimum, the State’s application of the law to the financial services industry.