The Division of Banking Industry Overview was part of the agenda materials for the Banking Commission meeting held December 15, 2022. The trust industry part of the report appears beginning on page 10 of the report. Access a PDF copy of the report using this link: PowerPoint Presentation: Division of Banking Industry Overview
Members of the South Dakota Trust Association built houses with Habitat for Humanity in Rapid City and Sioux Falls . It was a fun afternoon giving back to the community!
The bill being proposed by the Governor’s Trust Task Force has been posted. Here is a link to the bill. https://sdlegislature.gov/Session/Bill/24027/245592
In 2022, the South Dakota Trust Association implemented a new scholarship opportunity available to post-secondary students to help increase awareness of the local trust industry. It is the hope that this scholarship opportunity helps to raise awareness of students about the career paths in the trust industry, emphasizing the current demand for trust administrators. A …
South Dakota Trust Association Scholarship Recipients Announced Read More »
The 2022 Fall Forum was held in Sioux Falls where 275 members and other attendees from around the country participated in a day and a half conference on topics related to South Dakota trust laws. A special thank you to all of our sponsors who made this event a huge success! All New Gallery
We held an SDTA volunteer day at Feeding South Dakota in Rapid City and Sioux Falls where members packed backpacks of food for students in need to take home over the weekend. It’s a fun competition between the Rapid City and Sioux Falls locations to see who can pack more backpacks, but it’s the students …
SOUTH DAKOTA DIVISION OF BANKING 1601 N. Harrison Avenue, Suite 1, Pierre, SD 57501 605-773-3421 NUMBER: 10-009 DATE: July 8, 2022 TO: SOUTH DAKOTA TRUST COMPANIES FROM: BRET AFDAHL, Director RE: SPECIAL PURPOSE ENTITY OVERSIGHT GUIDANCE MEMORANDUM The South Dakota Division of Banking (Division) is aware of instances in which Special Purpose Entities (SPEs) named …
Special purpose entity Memo from the SD Division of Banking Read More »
All South Dakota Chartered Trust Companies: As a result of the ongoing conflict involving Russia and Ukraine and corresponding sanctions, the U.S. Treasury and the Office of Foreign Assets Control (OFAC) has been actively updating the Specially Designated Nationals (SDN) List and non-SDN sanctions lists. Every South Dakota-chartered trust company should take a proactive approach …
October 22, 2021 The Wall Street Journal Editorial Board provided their opinion of the South Dakota trust industry. You can read the full article below.
October 19, 2021 The Madison Daily Leader published an editorial regarding the South Dakota trust industry. You can read the full article below. https://www.madisondailyleader.com/opinion/article_2c88c3a0-3109-11ec-9a8a-1b52ceb38a8e.html