U.S. SEC Proposes Modernization of Transfer Agent Rules, Including On-Chain Adaptations

The U.S. Securities and Exchange Commission (SEC) officially announced a proposal on the 1st to modernize the rules for transfer agents, reflecting the current practices of electronic record-keeping and the use of blockchain technology. This proposal aims to overhaul existing regulations. Transfer agents are entities responsible for maintaining shareholder registries, handling changes of ownership, and managing corporate actions such as dividend payments. They are also key players in the U.S. clearing and settlement system. The current rules date back to the late 1970s...