SEC Proposes First Major Update to Transfer Agent Rules Since the 1980s, Citing Tokenization
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The Securities and Exchange Commission proposed updates to the rules and forms governing registered transfer agents, according to an SEC press release.The agency said transfer agents remain central to the national clearance and settlement system but now perform a more diverse set of functions than when the rules were last written.The proposal targets requirements largely unchanged since the 1980s, according to Cointelegraph, and addresses blockchain-based recordkeeping, tokenized securities and increasingly automated market infrastructure.Decrypt reported the plan marks the first overhaul of transfer agent rules in 40 years and cited tokenization as a driver, noting that new Form TA-2 questions would require agents to disclose how many share registers they maintain on distributed ledgers.The Defiant reported the proposal would update electronic recordkeeping requirements and add risk-management and compliance obligations for transfer agents that use blockchain systems.The Block described the effort as an attempt to bring rules dating to the 1970s in line with blockchain and tokenization technology.- LIVE Updating as it happens · newest first 14:55 UTC The SEC proposed updating transfer agent rules largely unchanged since the 1980s to accommodate blockchain technology, tokenized securities, and modern market infrastructure.
- The proposal includes new Form TA-2 questions requiring agents to report share registers kept on distributed ledgers.
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LIVEUpdating as it happens · newest first
The SEC proposed updating transfer agent rules largely unchanged since the 1980s to accommodate blockchain technology, tokenized securities, and modern market infrastructure. The proposal includes new Form TA-2 questions requiring agents to report share registers kept on distributed ledgers.
Sources: SEC Press Releases, The Block, Cointelegraph, CoinDesk, Decrypt, The Defiant
This article is for information only and is not financial advice.
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Story so far 3 updates
- storySEC Proposes Overhaul of Decades-Old Transfer Agent Rules to Address Blockchain and Tokenizationfirst reported · 4 sourcessec.gov · theblock.co · cointelegraph.com · coindesk.com
- storySEC Proposes First Overhaul of Transfer Agent Rules in Decades, Citing Blockchain and Tokenizationupdate · 6 sourcessec.gov · theblock.co · cointelegraph.com · coindesk.com · decrypt.co · thedefiant.io
- storySEC Proposes First Major Update to Transfer Agent Rules Since the 1980s, Citing Tokenizationupdate · 6 sourcessec.gov · theblock.co · cointelegraph.com · coindesk.com · decrypt.co · thedefiant.io
US Securities and Exchange Commission
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