Company leaders have a number of financial and administrative responsibilities, and escheatment often gets overlooked. It's not as frequently discussed as tax or compliance matters, but failing to understand and act upon it can lead to significant consequences.
As business operations become more intricate and as shareholder
Category: Corporate Action 193
The financial responsibilities of issuers don’t end once they distribute payments to their shareholders. Escheatment laws are commonly overlooked but critically important.
This process, which dictates the transfer of unclaimed property to the state after a certain period of inactivity, raises a pertinent question: Are all
Financial institutions and other clients who need to comply with the Financial Industry Regulatory Authority (FINRA) rules and regulations should be aware of upcoming changes to its Corporate Actions Management Platform.
Introduction to the New Corporate Actions Management Platform
FINRA is introducing a new system for ADR dep
The proposed OTC Expert Market has been officially denied by the Securities and Exchange Commission (SEC). Earlier this August, the SEC issued a decision on a proposed order that would provide conditional exemption from Rule 15c2-11 for specific broker-dealer quotation publications through an Expert Market. The suggested mar
The Depository Trust and Clearing Corporation (DTC) recently proposed Rule SR-DTC-2015-012 regarding CUSIP eligibility that went into effect on January 1st, 2016. The proposed rule allows DTC to charge issuers a $1,000 fee when required to make a new CUSIP DTC eligible after completion of a corporate action. A CUSIP is similar t
The Financial Industry Regulatory Authority, or FINRA, made key changes in the way corporate actions are handled this past year, including eliminating time-consuming paperwork and adding issuer fees for corporate action processing.
As far as paper elimination is concerned, FINRA has created interactive PDF documents for both