SEC Moves to Modernize Transfer Agent Rules for Digital Markets

The U.S. Securities and Exchange Commission is moving to overhaul rules governing transfer agents, bringing a decades-old framework in line with electronic records, blockchain technology and faster-moving securities markets.

The September 1 proposal would update rules and reporting forms for registered transfer agents, which maintain records of securities ownership and help ensure transactions are properly processed and settled.

SEC Targets Legacy Framework

The rules have not been substantively updated since the late 1970s and early 1980s, even as transfer agents have expanded the services they provide to companies, investors and other market participants.

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The SEC’s proposal would update the framework to reflect the growing use of electronic records and communications while …

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