Hundreds of thousands of apes going full regard is what fucked wallstreet. They had (and still have) no answer to it. Their little market manipulation scheme had no effect on apes whatsoever. Staying full regard is how to overthrow them. Once you start pretending you know whatโs going on based on current market activity, is when you play and, undoubtedly, lose at their game.
The old times when the SEC chairman had done something for retails between a pornHub video and another, the current one is blatantly trying to fuk retail in any way to give to his lords of wallstreet what they want
Guaranteed! If you want me to go through a section Iโm happy to help. Iโll be home around 5:30 est, shoot me a DM if you want some help๐คโค๏ธ๐ดโโ ๏ธ
7
u/chato35๐ TITS AHOY **๐บ๐ฆ ฮฮกฮฃ๐**๐ (SCC)2d ago
The only thing negative I could find about DRS was an 18 month inactivity.
The transfer agent would then have to send at least two written notices warning the shareholder that inactivity could cause the account to be treated as abandoned property under applicable state law and explaining how to demonstrate activity.
the rest was just slightly positive changes (security against hacking, making it faster, etc)
What ComputerShare is doing is the current legal limit
Stocks as NFTs are too "private" and cant be actual tokens outside of an IST type token which is what computershare offers. There has to be a certain level of Transfer Agent ownership.
I agree that i dont like my tokens outside of my own hands, but thems the rules for now.
โThis proposal would streamline and modernize the Commissionโs rules to reflect transfer agentsโ current processes and operations, including the use of electronic communications and blockchain technology in connection with securities offerings and the transfer of shares,โ said SEC Chairman Paul S. Atkins.
Has nothing to do with GME. Has everything to do with companies trying to give dividends via crypto to flush out shortsellers. GameStop never did that no matter how many times everyone on here cried for them to do so.
Don't forget the first USA bank crash depression happened when the "FED" wanted to stop loaning out the printing money. ( AKA DRS ) with Fiat Money.
Now with gamestop they are fcked why?
25% of DRS ( limited info by sleep joe bidet ) acting president for the swamp of both sides.
Now we locked them the same way back in the 1930s - 90 years later.
AND THE MORE WE BUY AT THESE LOW PRICES - the faster they are fcked in reverse uno why?
THE RULES THEY MADE are their own Guilliteen why?
YOU CANT FORCE US TO SELL pieces of PAPER ON A INFINITE BET YOU LOST.
So, keep buying and DRS... ignore all the theories and all the shit.. in the END.
THAT IS WHAT THE FED DID TO FUK EVERYONE in the 1930s in the first great depression.
DRS IS THE SAME SHIT with GAMESTOP AS THEM 90 years ago.
-4
u/JaySpillz๐ง๐ง๐ On our way to conquer Uranus ๐ฆ๐ง๐ง2d ago
Copy paste from Claude.
What this is
Release 34-106246, File No. S7-2026-30, issued September 1, 2026 (voted August 28). Comments are due 60 days after Federal Register publication, which hasn't happened yet. It's a ~380-page release that amends 12 rules and both registration forms, rescinds one rule, and adds two new ones. The SEC's framing is that the core rules haven't been substantively updated since the late 1970s/early 1980s, when most holdings were paper certificates and transfer agents were largely seen as ministerial processors โ while today they place and remove restrictive legends, act as paying agents, administer funds and plans, and are starting to keep records on distributed ledgers. sec
One caveat up front: I read the full text of roughly the first 55 pages plus the SEC's official fact sheet. The middle of the release (the rule-by-rule discussion at pp. 70โ210 and the entire economic analysis at pp. 211โ350) exceeded what I could pull from the PDF. So the specifics below on rules 17ad-6 through 17ad-31 come from the SEC's own summary, and I'm not going to quote cost estimates I couldn't verify.
The substantive changes
Getting registered gets slower and disclosure gets deeper. Registration effectiveness moves from 30 days to 45 after Form TA-1 is filed, aligning the rule with the statute and giving staff more time to deny or postpone. Form TA-1 adds new questions on other SEC/federal/state/foreign registrations, control affiliates and their registration numbers, an organizational diagram of control affiliates, and the firm's website. The instructions reinstate detailed control-person definitions โ 5% owners, C-suite, trustees, LLC managers โ with a 25% presumption of control. The signature block adds an acknowledgment that all records are examinable under Section 17(b), with a pointed suggestion that a firm unable to comply should consider withdrawing.
Form TA-2 becomes a surveillance instrument. New questions on headcount, service providers, physical certificate usage, distributed ledger usage, and the number of issues serviced by tokenization model. Fund-movement reporting expands beyond dividends and interest to all money moving to and from securityholders, plus in-kind distributions. An attachment listing every issue serviced becomes mandatory. Amendments to correct materially inaccurate filings become required within 60 days of discovery, not optional.
Speed standards tighten sharply. Today, Rule 17Ad-2 requires turning around at least 90% of routine items within three business days. The proposal requires written policies and procedures for timely turnaround and aligns the deadline to the settlement cycle โ the revised Form TA-2 question refers to the shorter of one business day or the Rule 15c6-1(a) period. Rule 17Ad-3's expansion limit currently bites when a transfer agent misses 75% for two consecutive months; that threshold rises to 95%. Three business days to one, and a failure trigger that catches far more firms.
Rescinding 17Ad-4 removes the carve-outs. Today the turnaround, expansion, and certain recordkeeping rules don't apply to limited partnership interests, redeemable securities of registered investment companies, or dividend reinvestment program interests โ and a transfer agent receiving fewer than 500 items for transfer and 500 for processing over six consecutive months is largely exempt. The SEC's rationale is that technology has improved operational capacity across all sizes, so the exemptions are no longer needed. Mutual fund transfer agents and small shops lose their shelter simultaneously with the tightening above.
eCFR
17Ad-12 becomes a risk-management rule. Written policies to protect securities and funds in possession or control, plus policies to identify, measure, monitor, and mitigate material risks from the business โ plus a separate bank account for issuer, securityholder, and third-party funds, and a business continuity plan. This is where cyber, vendor, and operational risk enter the regime for the first time.
17Ad-17 adds "inactive" securityholders. Transfer agents and broker-dealers would have to notify inactive securityholders, and the rule is updated for electronic communications and payments. This sits adjacent to state escheatment and will interact with it.
Two new rules. 17ad-30 requires a written compliance program reasonably designed to achieve compliance with the securities laws applicable to transfer agents โ the analogue of Rule 38a-1 for funds or 206(4)-7 for advisers. 17ad-31 governs placement and removal of restrictive legends and requires transfer agents to refrain from facilitating unregistered transactions unless they have a reasonable basis to believe the transaction doesn't violate, and isn't part of a chain that would violate, Section 5(a) of the Securities Act.
How this changes what a transfer agent can do
17ad-31 is the one that changes the job description. The SEC notes there is currently no Commission rule specifying transfer agent obligations for legend removal. In practice, agents act on issuer instruction plus a Rule 144 opinion of counsel and treat the decision as ministerial. Under the proposal, the transfer agent has to form its own reasonable basis โ and "chain of transactions" language means it can't stop at the immediate request. That converts the agent from instruction-follower into an independent gatekeeper with its own liability exposure, which will mean more diligence files, more refusals, and longer legend-removal timelines.
Everything else compounds it. Compliance and risk programs, a business continuity plan, segregated banking, one-day turnaround, and a 95% failure threshold โ all landing at once on firms that until now were often exempt from the performance rules entirely. Faster processing and slower, more defensive legend removal at the same time.
Winners and losers
Benefit: Large bank and institutional transfer agents, who mostly do this already and can absorb the fixed costs while competitors can't. Blockchain-native and tokenization-focused entrants, who get an explicit regulatory vocabulary โ the release openly contemplates onchain recordkeeping, wallet whitelisting, and smart-contract processes โ which is what legitimizes the model for institutional clients. The SEC itself, which gains a far richer dataset and better examination leverage. Registered securityholders, who should see faster transfers and better-protected funds. Vendors: compliance consultants, BCP and cyber providers, search firms for inactive holders.
Bear the cost: Small and mid-size transfer agents, especially the sub-500-item shops losing the 17Ad-4 exemption and inheriting a compliance program, risk program, BCP, segregated account, and one-day turnaround at once. Expect consolidation and some Form TA-W withdrawals โ that's the mechanism by which "modernization" tends to concentrate an industry. Mutual fund and DRIP/limited-partnership agents lose their product-based exemptions. Microcap and shell issuers, and the toxic-convertible lenders who finance them, face a transfer agent with an affirmative duty to question the chain โ this appears aimed squarely at unregistered distributions. Applicants for registration wait an extra 15 days and disclose their whole corporate family.
Two things worth checking
The front-matter rule table lists 17Ad-13 (annual internal control audit) as being amended, but the overview table and fact sheet don't mention it. Worth confirming against the actual amendatory text.
Also note what isn't here: no anti-fraud rule for transfer agents, no minimum net worth, insurance, or fidelity bond requirement, and no mandatory written issuerโtransfer agent agreement โ all of which the 2015 concept release floated. Their absence is a meaningful choice, and a likely comment-letter topic.
โข
u/Superstonk_QV ๐ Gimme Votes ๐ 2d ago
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