Golden Gate Bridge

Managing Stock
Transfer Costs
Responsibly
Since 2006

Recent News

Fall 2024

EQ Data Breach – Updated SEC Data Protection Regulations

On 8/20/24 stock transfer agent EQ settled SEC charges by paying a civil penalty of $850,000, agreeing also to “censure.” Two separate cyber intrusions into EQ’s shareholder database, in 2022 and 2023, had resulted in the loss of $6.6 million in client funds, of which just $2.6 million were recovered. The SEC stated that EQ “…failed to provide the safeguards necessary to protect its clients’ funds and securities from the types of cyber intrusions that have become a near-constant threat to companies and the markets,” going on to say “…transfer agents must act to implement and maintain effective safeguards and procedures around client assets.”
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Summer 2024

T+1 and the impact on stock transfer agents

Now that trade settlement happens one day after trade date (“T+1”…effective 5/28/24), we asked many stock transfer agents if this has significantly impacted their operations or procedures. The short answer was no. The full answers were a little more interesting.
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Testimonials

Shareholder Service Solutions, Inc.

Simply put, Andy Wilcox’s services made me look and sound like I was an expert in transfer agent contracts, pricing and policies, when clearly I am not.  His customer service was excellent and was all encompassing as it pertains to the services and advice he provided.  He saved me the countless hours it would have taken to become appropriately educated on transfer agents and their contracts in addition to helping deliver a refreshed contract and pricing structure with my existing vendor that is better than I ever would have been able to do on my own.  ~ Steve Willoughby, Vice President Investor Relations, PerkinElmer, Inc.

Helpful Hint

Protect your shareholders’ stock and cash from escheatment, enhancing your investor relations

States in the U.S. have become increasingly greedy.  They hire “contingent fee auditors” to sniff out stock and cash on transfer agents’ books which they CLAIM are property “abandoned” by shareholders –...
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Term of the Month

Shadow Trading

Trading in another company's stock based on how you think or know your company's current non-public information or activities will subsequently affect that company's stock price.  The SEC seems to equate this with insider trading.

Quote of the Quarter

“Why have stock transfer agent (TA) sales efforts dwindled in recent years?  First, because TAs have not been having much success getting issuers to switch to them.  Last year had, by far, the lowest number of TA searches – and actual moves – we have seen in our 50+ years as TA watchers.  And why is that?  In part, it is because most TAs do not have a ‘better mousetrap’ to induce new clients to switch.  But in larger part, it is because TAs do not want to trigger a fee war – especially when they can cut sales and marketing expense while quietly milking their existing customers for the ‘high 20th century fees’ they’re collecting for ‘low touch, low tech and low volume’ 21st century services.” ~ Carl Hagberg, Editor, The Shareholder Service Optimizer.