Transfer Agents' Obligation to Search for Lost Securityholders (17 CFR 240.17Ad-17)

OMB 3235-0469

OMB 3235-0469

The purpose of Rule 17Ad-17 is to reduce the number of lost securityholders by requiring transfer agents, brokers, dealers, and paying agents (collectively, "covered entities") to conduct two database searches for correct addresses for the lost securityholders. Rule 17Ad-17 requires a mandatory "collection of information" that requires covered entities to maintain records in order to comply with and to demonstrate compliance with the rule, which includes written procedures that describe the transfer agent's, broker's, dealer's, or paying agent's methodology for complying with the rule. Such records must be maintained for a period of not less than three years with the first year in an easily accessible place. The Commission reviews this information to test for compliance. The collection of information is necessary to enable covered entities, as custodians of records that determine the ownership of securities and the entitlement to corporate distributions, to reduce the number of lost and missing securityholders. The Dodd-Frank Act required certain changes to this rule.

The latest form for Transfer Agents' Obligation to Search for Lost Securityholders (17 CFR 240.17Ad-17) expires 2022-08-31 and can be found here.

OMB Details

Searching Entities Requirements

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight


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