Search Results for keywords:"transfer agents"

The Securities and Exchange Commission (SEC) notified that they are seeking approval from the Office of Management and Budget (OMB) to extend the collection of information required under Rule 17Ad-2(c), (d), and (h) of the Securities Exchange Act. This rule requires transfer agents to notify the SEC if they fail to meet specific performance standards. Although there are 740 transfer agents, only about three such notices are filed annually, with each notice taking roughly half an hour to prepare. Interested parties can view and comment on this request through a provided online link or via email by January 30, 2025.

The Securities and Exchange Commission (SEC) is seeking public comments on the extension of a rule involving information collection from registered recordkeeping transfer agents. This rule, known as Rule 17Ad-11, requires these agents to report discrepancies in security records, particularly when issues with record differences have not been resolved for over 30 days. The SEC estimates that the overall burden on these agents is minimal, with each report taking about 30 minutes to complete. Comments on the necessity and effectiveness of this reporting requirement are welcomed until February 3, 2025.