The Board of Governors of the Federal Reserve System is seeking public comments on a proposal to extend, without changes, the process by which certain transfer agents can claim exemption from specific regulations. These exemptions are applicable to transfer agents under the Board's supervision that handle a low volume of securities. Comments can be submitted until May 27, 2025, through different methods, including the Federal Reserve's website and email. The suggestion aims to ensure the collection process is efficient and that the Board's functions are effectively performed.
Simple Explanation
The Federal Reserve wants to know what people think about letting certain companies that help keep track of buying and selling of stocks (called transfer agents) skip some rules if they don't handle a lot of stocks. People can share their thoughts until May 27, 2025.