Comment Deadline On Stock Transfers
Comments are due at the Securities and Exchange Commission Thursday of next week on a proposal to allow credit unions to offer stock transfer services to their members. Like banks, credit unions would guarantee that the person who is selling a security actually owns it.
Most stock transfer agents refuse to accept credit union signature guarantees. But a law passed last year that gave greater enforcement powers to the Securities and Exchange Commission bars inequitable treatment of credit unions seeking to act as signature guarantors.