4 Mar 2025
📄SEC Proposed Collection Notice on Rule 17Ad-16 Compliance
Proposed Collection; Comment Request; Extension: Rule 17Ad-16
Summary
The SEC announces a request for comments regarding the extension of Rule 17Ad-16, which mandates registered transfer agents to notify securities depositories when changes to services occur. It also outlines the compliance burden and cost estimates associated with submitting these notices annually, aiming to streamline certificate transfers and reduce delays.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule under Rule 17Ad-16 has direct compliance implications for registered transfer agents who must notify the appropriate securities depositories about service changes. The rule also involves cost calculations for compliance, estimating internal compliance costs for the industry, which could affect financial planning.