UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 100571 / July 22, 2024

ADMINISTRATIVE PROCEEDING

File No. 3-16098

In the Matter of

Wilmington Trust Corporation,

Respondent.

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ORDER DIRECTING SECOND

DISBURSEMENT OF

DISTRIBUTION FUND

On July 10, 2020, the Secretary, pursuant to delegated authority, published a Notice of

Proposed Plan of Distribution and Opportunity for Comment (the “Notice”),1 pursuant to Rule

1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans (“Commission’s

Rules”);2 and simultaneously posted the Proposed Plan of Distribution (the “Proposed Plan”).

The Notice advised interested persons that they could obtain a copy of the Proposed Plan of

Distribution (“Proposed Plan”) from the Commission’s public website or by submitting a written

request to Catherine E. Pappas, United States Securities and Exchange Commission, One Penn

Center, 1617 JFK Blvd., Ste. 520, Philadelphia, PA 19103. The Notice also advised that all

persons desiring to comment on the Proposed Plan could submit their comments, in writing,

within 30 days of the Notice. The Commission received no comments on the Proposed Plan

during the comment period. On September 3, 2020, the Secretary, pursuant to delegated

1

2

Exchange Act Rel. No. 89287 (July 10, 2020).

17 C.F.R. § 201.1103.

authority, issued an order approving the Proposed Plan,3 and posted the approved Plan of

Distribution (the “Plan”).

The Plan provides for the distribution of the Distribution Fund, plus accumulated interest,

less taxes, fees, and expenses, to harmed investors according to the methodology set forth in the

Plan.

On August 27, 2021, the Division of Enforcement, pursuant to delegated authority, issued

an Order Directing Disbursement of Distribution Fund, directing the disbursement of

$62,504,575.28 to eligible investors in accordance with the Plan.

As of March 31, 2024, there was $1,990,270.87 remaining in the Distribution Fund,

comprised of $1,796,022.25 held in the Distribution Fund’s escrow account at The Huntington

National Bank, and $193,348.62 held by the Commission. The Tax Administrator has since

received an additional $900 tax refund, which has been added to the Distribution Fund.

In accordance with Paragraph 42 of the Plan and in view of the amount remaining in the

Distribution Fund, less a reserve of $376,725.89 for any taxes and administrative costs, the Fund

Administrator recommends further disbursement of the Distribution Fund to eligible investors in

accordance with the Plan.

Pursuant to the Plan, the Fund Administrator has submitted a payment file along with a

reasonable assurances letter. The Commission staff has reviewed and accepted the payment file

and requests, pursuant to Rule 1101(b)(6) of the Commission’s Rules, 17 C.F.R. §

201.1101(b)(6), that the Commission authorize the Fund Administrator to disburse

$1,612,529.44 held at The Huntington National Bank, N.A. in accordance with the Plan.

3

See Order Approving Plan of Distribution, Exchange Act Rel. No. 89758 (Sept. 3, 2020).

Accordingly, it is hereby ORDERED that the Fund Administrator shall disburse

$1,612,529.44 held at The Huntington National Bank, N.A. in accordance with the Plan.

For the Commission, by the Division of Enforcement, pursuant to delegated authority.4

Vanessa A. Countryman

Secretary

4

17 C.F.R. § 200.30-4(a)(21)(v).