Rule 17Ad-16 of the Securities and Exchange Commission Act of
1934 requires transfer agents to notify a qualified registered
depository if it has changed its name, or assumed, transferred or
terminated its services. It also requires the qualified registered
securities depository to deliver a copy of such notices to its own
Participants within 24 hours (excluding weekends and holidays) to
ensure that investors receive this critical information in a timely
fashion. The Issuer Agent Portal will enable the posting, in near real
time of TA Notices directly to LENS.
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Benefits
- A streamlined process that is driven by you
- A single user interface with an intuitive online form for submission of notice details
- Automated email confirmation with a link to your submission details provides assurance that notices have been posted within SEC mandated timeframes
- Notices are created in near real time and available to LENS subscribers right away
- Efficiency gains as 17Ad-16 changes can be bulk uploaded to LENS using Excel workbooks or Comma Separated Value (CSV) files
- The convenient, flexible, and straight through nature of the Issuer Agent Portal and associated outputs can be expanded to other processes to help streamline the investor communication pipeline