Transfer agent

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Transfer agent

Individual or institution a company appoints to look after the transfer of securities.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Transfer Agent

A financial institution that acts, for a fee, as a record keeper for a publicly-traded company, investment company, or similar company. A transfer agent is responsible for issuing stock certificates, dealing with lost or stolen certificates, and generally maintaining accurate records for the client company. A transfer agent is particularly important because many investment companies have a large number of investors with a small amount of equity.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

transfer agent

A company, generally a bank or trust company, appointed by a firm to transfer that firm's securities. Security holders may send the security certificates directly to the transfer agents by registered mail. The security should be endorsed with a letter of instruction included. The firm's agent is listed on its certificates. The transfer agent is also likely to maintain the current record of security owners for transmitting dividends, reports, security distributions, and so forth.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Transfer agent.

A transfer agent is responsible to a corporation for keeping track of who owns the corporation's stock and bonds and whether those securities are registered in the name of an individual investor or a brokerage firm, which is known as street name registration.

In some cases, stocks can be registered directly on the books of an issuer or its transfer agent using the direct registration system (DRS).

Increasingly, ownership records are electronic, though a transfer agent may issue stock and bond certificates to new owners if they request them. The transfer agent also receives certificates that represent securities that have been sold or returned to be reregistered.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
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Besides, the companies served by Sharepro were asked to change their Registrar and Share Transfer Agent, and also to conduct a thorough audit of their records and systems with respect to dividend payouts and transfer of securities.
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Transfer agents maintain records related to the issuance and transfer of securities and provide operational assistance in the sale and transfer of ownership of securities.
In addition to regulating various operational parameters for money transfer agents, the Reserve Bank also requires agencies carry insurance.
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The SEC staff also said it would ensure broker-dealers, transfer agents and investment advisers and companies were aware of the problem.
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