Industry News

<- Back


SEC Moves to Update Transfer Agent Rules; New Rules Likely to Impact Unclaimed Property and Cybersecurity

On December 22, 2015, The Securities and Exchange Commission (SEC) took the first step in overhauling its regulation of transfer agents, who are critical intermediaries in the clearance of U.S. securities. The Commission issued a notice of proposed rulemaking, together with a release requesting public opinion on the SEC’s review of transfer agent regulations. The SEC intends to modernize the rules pertinent to transfer agents, acknowledging that these rules, first adopted in 1977, are not consistent with today’s practices and markets. Transfer agents’ roles with respect to unclaimed property is an area the SEC targeted as necessitating change.

To read entire article, click here


<- Back