What Is A Transfer Agent?
by Phoenix American Fund AccountantIn its most limited sense, a transfer agent is an agnostic third-party entity required to process a transfer of a company’s securities from one investor to another. Some companies are required to use a transfer agent due to the nature of their registration with the Securities and Exchange Commission. Other companies are not required to use a transfer agent but choose to because of the arms-length nature of the transfer agent service and because other back office services may be offered by the transfer agent. Still others, which are not required to use a transfer agent, process transfers themselves.
Publicly traded companies, mutual funds and private capital funds, if they have large numbers of investors, often utilize a transfer agent to keep track of the individuals and entities that own their securities. The transfer agent will enter new investment information into a transfer agent system, manage the investor database on behalf of the company and keep the investor profiles updated.
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Created on Jul 18th 2020 06:48. Viewed 287 times.
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