DBA Digest for June 30, 2023

2023 Delaware Trust Conference Discounted Early-Bird Registration Now Open!

SAVE $300 until August 4th!

Discounted Early-Bird Registration is now open. Registrants can save $300 on full access registration now through August 4th! The 2023 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streaming, on October 17 & 18, AND on-demand through November!

Sponsorships Available!

The list of prestigious Sponsors and Exhibitors continues to grow! Make sure your company is represented at the 2023 Delaware Trust Conference. See the link below for full registration benefits!

Platinum Sponsor: 

The Bryn Mawr Trust Company of Delaware (a WSFS Company)

Diamond Sponsors: 

Connolly Gallagher

The Glenmede Trust Company of Delaware

Gordon, Fournaris & Mammarella

McCollom D'Emilio Smith Uebler.

Gold Sponsor:

Morris, Nichols, Arsht & Tunnell

Silver Sponsor

Chilton Trust

Commonwealth Trust Company

Morris James LLP

Pinion

Santora CPA Group

Exhibitors

Pinion

S&P Global

The 2023 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streamed, on October 17 & 18, AND on-demand through November! 

Mid-Atlantic Bank Executives Conference

September 10 - 11

This event, brought to you by five states (DE, MD, PA, VA and WV) will bring together bankers and industry partners for sessions with nationally recognized speakers providing relevant and timely content geared specifically to bank c-suite and other senior leaders. See the full agenda and registration information via the link below.

Bank of America Private Bank Market Minute

U.S. Equities broke a winning streak last week. The major U.S. indexes each fell more than 1%, with the Nasdaq Composite suffering its first weekly decline since April. Concerns over future interest rate hikes and signs of a slowing global economy weighed on stocks. In his testimony before Congress, U.S. Federal Reserve (Fed) Chair Powell reiterated comments from the prior week, stating there’s still “a long way to go” in combatting inflation which weighed on sentiment mid-week. The Fed will consider resuming rate hikes at future meetings, with futures markets pricing in a 75% probability of a 25 basis point hike at their July meeting. In economic news, the Conference Board’s U.S. Leading Economic Index (LEI) declined again in May, notching it’s fourteenth consecutive month-to-month decline. Housing starts beat forecasts and surprised by hitting their highest level in over a year. Sales of existing homes also surprised to the upside. S&P Global reported its gauge of U.S. manufacturing activity fell to its lowest level since December 2022. Similarly, the eurozone’s composite purchasing managers’ index, a measure of activity in manufacturing and services, fell to a five-month low. The Bank of England (BoE) unexpectedly hiked by half a percentage point to 5.0% after the latest inflation data failed to slow. This week the Fed releases the results of its annual stress tests for large banks, the Bureau of Economic Analysis releases its final read of U.S. gross domestic product for Q1, and the Fed’s favored inflation gauge, the core personal consumption expenditures (PCE) price index, is expected on Friday.

Join Northern Trust on July 18 for Exclusive Insights from Their Experts

We are pleased to invite you to join our quarterly discussion on the latest market and economic developments – and what they mean for investors, your portfolio and our outlook.

July 18, 2023

11 a.m. ET

Duration: 60 minutes

Ask the Regulators: Final Supervisory Guidance on Third-party Risk Management

On Wednesday, July 26, 2023, at 1:00 p.m. ET, staff from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, and Office of the Comptroller of the Currency (OCC) will conduct an Ask the Regulators webinar for their supervised institutions on the recently issued final guidance on third-party risk management: https://www.federalregister.gov/documents/2023/06/09/2023-12340/interagency-guidance-on-third-party-relationships-risk-management.

During the webinar, staff of the agencies will provide an overview of the final guidance, highlighting key topics and specific areas for consideration. Staff will also discuss the guidance’s description of supervisory processes with respect to banks’ third-party risk management practices.



“The Preeminent Richards, Layton & Finger” Earns Top Ranking in IAM Patent 1000

Richards, Layton & Finger received the highest gold ranking and firm directors Fred Cottrell, Kelly Farnan, Travis Hunter, and Jeffrey Moyer are named among Delaware’s top patent attorneys in the 2023 edition of IAM Patent 1000: The World’s Leading Patent Professionals.



IAM Patent 1000 notes that Richards Layton “thrives when it comes to intricate disputes and stands out for its solutions-oriented approach and problem-solving capabilities.” The guide reports that Cottrell “always brings to bear practical solutions to problems and is very much a strategic thinker.” Farnan is noted for her “shrewd judgement, on-point advice, and great results.” Hunter is praised as “very knowledgeable and great at big-picture strategy,” and Moyer is widely known as a “confident and sophisticated litigator.”

Ballard Spahr Launches AI Task Force to Advise on Opportunities and Risk Mitigation

As artificial intelligence works its way into practically every sector of industry and commerce, Ballard Spahr has assembled a task force to advise clients on the opportunities and benefits of AI while helping them minimize risk and comply with evolving laws and regulations.



The firm’s newly formed, multidisciplinary AI team comprises lawyers from practices across the firm. They guide companies and organizations on AI-related contracts and other business transactions, advise on the rapidly evolving regulatory regime, and advocate for clients in disputes. The Ballard Spahr team has experience in the AI issues specific to various industry sectors, including life sciences, health care, financial services, retail and manufacturing, e-commerce, and technology.