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.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.