CTF Written Submission

Re: Tokenized Securities

Nov. 14, 2025
  • Computershare advocates that listed issuers should retain discretion to issue tokenized securities directly, ensuring legal ownership is recorded on the Master Securityholder File (MSF), thereby preserving investor rights and issuer control.
  • The SEC should mandate that third-party tokenized securities be assigned distinct ISINs and stock codes, with clear disclosures to prevent investor confusion and to distinguish them from issuer-sponsored tokenized securities (ISTs).
  • Computershare recommends that updates to transfer agent rules remain technology- and format-neutral, avoiding references to specific technologies like blockchain, while still enabling secure and efficient tokenized securities processing under existing regulatory frameworks.

Last Reviewed or Updated: Nov. 14, 2025