The SEC & the Year 2000:
Notices and Certifications Filed Pursuant to Rule 17Ad-21T Operational Capability in a Year 2000 Environment
You have reached the website where you can access notices and certifications filed by non-bank transfer agents pursuant to Rule 17Ad-21T under the Securities Exchange Act of 1934 Operational Capability in a Year 2000 Environment.
Background: Using This Material
Effective August 30, 1999, Rule 17Ad-21T requires any non-bank transfer agent that uses computers in the conduct of its business as a transfer agent to notify the SEC and its issuers if it has or is presumed to have a material Year 2000 problem at any time on or after August 31, 1999. The term "material Year 2000 problem" and the conditions giving rise to a presumption of a material Year 2000 problem are defined in Rule 17Ad-21T.
Rule 17Ad-21T also requires a non-bank transfer agent that has or is presumed to have a material Year 2000 problem on or after August 31, 1999 to cease conducting its transfer agent functions unless it satisfies certain conditions. Among these conditions is a requirement that the non-bank transfer agent's chief executive officer (or an individual with similar authority) file a certification with the SEC and its issuers stating that the non-bank transfer agent will remedy its material Year 2000 problem no later than November 15, 1999, and explaining how it will do so. Rule 17Ad-21T further requires any non-bank transfer agent that files an initial certification to update any certification that becomes inaccurate or misleading, and to file a final certification on or before November 15, 1999 stating either that the non-bank transfer agent has remedied its Year 2000 problem or that it will its transfer agent functions.
You may access copies of notices and certifications filed by non-bank transfer agents pursuant to Rule 17Ad-21T through this website. Many non-bank transfer agents that file a notice pursuant to Rule 17Ad-21T stating that they have a material Year 2000 problem will also file one or more certifications under the rule explaining how they will remedy the problem before November 15, 1999. However, some non-bank transfer agents may file a notice only.
A non-bank transfer agent that files a notice only is required to cease its transfer agent functions by December 1, 1999. A broker or dealer that files one or more certifications, but fails to remedy its Year 2000 problems by November 15, 1999 is also required to cease conducting its securities business by December 1, 1999.
For further details on the specific requirements of Rule 17Ad-21T, see Year 2000 Operational Capability Requirements for Registered Broker-Dealers and Transfer Agents. July 29, 1999. Effective Date: August 30, 1999. [Release No. 34-41661; File No. S7-8-99] (File name: 34-41661.htm).
Limitations of the Information in This Website
- This website displays copies of filings made by non-bank transfer agents pursuant to Rule 17Ad-21T. Copies of the filings appear in the form filed by the non-bank transfer agent.
- Nothing in this website should be construed as a statement or implication by the SEC regarding the appropriateness or sufficiency of any filing made pursuant to Rule 17Ad-21T.
- Nothing in this website should be construed as a statement or implication that the SEC agrees with or approves any of the information that appears in any filing made pursuant to Rule 17Ad-21T.
- The SEC continues to add filings to this website. The absence of an entity from this database does not mean that the entity has not or will not file a notice pursuant to Rule 17Ad-21T.
- The absence of an entity from this website does not mean that the entity will not experience a material Year 2000 problem on or after January 1, 2000.