§ 240.17Ad-6 Recordkeeping.  


Latest version.
  • (a) Every registered transfer agent shall make and keep current the following:

    (1) A receipt, ticket, schedule, log or other record showing the business day each routine item and each non-routine item is (i) received from the presentor and, if applicable, from the outside registrar and (ii) made available to the presentor and, if applicable, to the outside registrar;

    (2) A log, tally, journal, schedule or other record showing for each month:

    (i) The number of routine items received;

    (ii) The number of routine items received during the month that were turned around within three business days of receipt;

    (iii) The number of routine items received during the month that were not turned around within three business days of receipt;

    (iv) The number of non-routine items received during the month;

    (v) The number of non-routine items received during the month that were turned around;

    (vi) The number of routine items that, as of the close of business on the last business day of each month, have been in such registered transfer agent's possession for more than four business days, aged in increments of one business day (beginning on the fifth business day); and

    (vii) The number of non-routine items in such registered transfer agent's possession as of the close of business on the last business day of each month;

    (3) With respect to items for which the registered transfer agent acts as an outside registrar:

    (i) A receipt, ticket, schedule, log or other record showing the date and time:

    (A) Each item is (1) received from the presenting transfer agent and (2) made available to the presenting transfer agent;

    (B) Each written or oral notice of refusal to perform the registrar function is made available to the presenting transfer agent (and the substance of the notice); and

    (ii) A log, tally, journal, schedule or other record showing for each month:

    (A) The number of items received;

    (B) The number of items processed within the time required by §240.17Ad-2(b); and

    (C) The number of items not processed within the time required by §240.17Ad-2(b);

    (4) A record of calculations demonstrating the registered transfer agent's monitoring of its performance under §240.17Ad-2 (a) and (b);

    (5) A copy of any written notice filed pursuant to §240.17Ad-2;

    (6) Any written inquiry or request, including those not subject to the requirements of §240.17Ad-5, concerning an item, showing the date received; a copy of any written response to an inquiry or request, showing the date dispatched or mailed to the presentor; if no response to an inquiry or request was made, the date the certificate involved was made available to the presentor; or, in the case of an inquiry or request under §240.17Ad-5(a) responded to by telephone, a telephone log or memorandum showing the date and substance of any telephone response to the inquiry;

    (7) A log, journal, schedule or other record showing the number of inquiries subject to §240.17Ad-5 (a), (b), (c) and (d) received during each month but not responded to within the required time frames and the number of such inquiries pending as of the close of business on the last business day of each month;

    (8) Any document, resolution, contract, appointment or other writing, any supporting document, concerning the appointment and the termination of such appointment of such registered transfer agent to act in any capacity for any issue on behalf of the issuer, on behalf of itself as the issuer or on behalf of any person who was engaged by the issuer to act on behalf of the issuer;

    (9) Any record of an active (i.e., unreleased) stop order, notice of adverse claim or any other restriction on transfer;

    (10) A copy of any transfer journal and registrar journal prepared by such registered transfer agent; and

    (11) Any document upon which the transfer agent bases its determination that an item received for transfer was received in connection with a reorganization, tender offer, exchange, redemption, liquidation, conversion or the sale of securities registered pursuant to the Securities Act of 1933 and, accordingly, was not routine under §240.17Ad-1(i) (5) or (8).

    (b) Every registered transfer agent which, under the terms of its agency, maintains securityholder records for an issue or which acts as a registrar for an issue shall, with respect to such issue, obtain from the issuer or its transfer agent and retain documentation setting forth the total number of shares or principal amount of debt securities or total number of units if relating to any other kind of security authorized and the total issued and outstanding pursuant to issuer authorization.

    (c) Every registered transfer agent which, under the terms of its agency, maintains securityholder records for an issue shall, with respect to such issue, retain each cancelled registered bond, debenture, share, warrant or right, other registered evidence of indebtedness, or other certificate of ownership and all accompanying documentation, except legal papers returned to the presentor.

    (Secs. 2, 17, 17A and 23(a) (15 U.S.C. 78b, 78q, 78q-1 and 78w(a)))

    [42 FR 32413, June 24, 1977]

[72 FR 35140, June 27, 2007, as amended at 75 FR 77524, Dec. 13, 2010; 77 FR 8092, Feb. 14, 2012; 77 FR 33299, June 6, 2012; 77 FR 44429, July 30, 2012; 78 FR 31821, May 28, 2013