WASHINGTON - The Office of the Comptroller of the Currency has issued a regulatory guide for national banks that act as transfer agents.

The 55-page guide outlines the operational rules of the Comptroller's office and the Securities and Exchange Commission that banks acting as transfer agents must follow.

Transfer agents are retained by the issuers of securities to maintain records of share ownership. Their responsibilities include issuing certificates to new share owners, cancellation of securities when ownership changes, and coordination of the payment of dividends to share owners.

The guide has been sent to all 400 national banks that provide such services.

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