Additional Custody Safeguards
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Regulatory Oversight
Millennium Trust is chartered by the State of Illinois to provide administrative and custodial services. Each year Millennium is examined by the Illinois Department of Financial and Professional Regulation (IDFPR). The IDFPR
is responsible for the safety and soundness of Illinois
state-chartered trust companies and their compliance with the
Corporate Fiduciary Act.
Millennium Trust is audited each year by two separate independent audit firms. Scanlon & Matthews, LLP has issued an unqualified opinion on Millennium’s most recent annual financial statements. Plante Moran provides an annual assessment of Millennium’s information technology (IT) security and their most recent report finds the company’s IT security structure to be very effective.
Insurance Coverage
Millennium Trust has insurance coverage for the failure to render professional services and for illegal acts by employees, directors and owners such as fraud and theft. This includes Management Liability, Professional Liability and Fidelity Bond coverage through The Travelers Companies.
Business Continuity
We have established a comprehensive disaster recovery plan utilizing business continuity services provided by SunGard Availability Services. Data is backed-up and saved at a secure off-site data storage facility.
Privacy Policy
The company maintains extensive and strict policies to ensure privacy of client records. For additional information, see our Privacy Statement.
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