SEC Updates Transfer Agent Rules for Digital Era

The U.S. Securities and Exchange Commission (SEC) is taking steps to modernize its rules governing transfer agents, aiming to reflect the growing use of electronic records, digital communications, and blockchain technology.

Transfer agents manage ownership records for securities such as stocks and are responsible for handling transfers between investors.

The SEC's proposal seeks to update the existing regulatory framework to account for emerging blockchain applications and broader use of electronic records and communications in securities issuance and stock transfers.