Market regulation · 25/03/2011

SEC Amends Rule 17Ad-17 to Enhance Search for Lost Securityholders and Notify Missing Holders

The Securities and Exchange Commission has amended Rule 17Ad-17 to expand its scope to include brokers and dealers, and to require paying agents to notify missing securityholders in writing when sending them checks that have not yet been cashed, with certain exceptions for low-value transactions.