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Registration of Securities Transfer Agents

FDIC · final-rule · Published 2016-05-06 · Effective 2016-07-01 · 81 FR 27295

Document

Document number
2016-10529
Federal Register citation
81 FR 27295
CFR reference
12 CFR 341
Type
Rule
Action
Final rulemaking.
Category
final-rule
Agency
US Federal Deposit Insurance Corporation
Publication date
2016-05-06
Effective date
2016-07-01

Abstract

On December 22, 2015, the FDIC published a notice of proposed rulemaking in the Federal Register for public comment to amend its regulations requiring insured State nonmember banks, or subsidiaries of such banks, that act as transfer agents for qualifying securities under section 12 of the Securities Exchange Act of 1934 ('34 Act) to register with the FDIC (proposed rule). The FDIC is now issuing that proposed rule as final and without change (final rule). The final rule requires insured State savings associations and subsidiaries of such State savings associations that act as transfer agents for qualifying securities to register with the FDIC, similar to the registration requirements applicable to insured State nonmember banks and subsidiaries of such banks. Second, the final rule revises the definition of qualifying securities to reflect statutory changes to the '34 Act made by the Jumpstart Our Business Startups Act (JOBS Act). The final rule is consistent with the FDIC's continuing review of its regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996.

Source

Authoritative
Federal Register document
Machine
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