Division of Trading and Markets Staff Statement Regarding Termination Notice for Exemptive Relief for Transfer Agents and Other Persons Related to the COVID-19 Response

On March 20, 2020, in light of the challenges presented by COVID-19 at the time, the Securities and Exchange Commission (the “Commission”) issued a conditional exemptive order providing conditional temporary relief to: (1) transfer agents from the requirements of Sections 17A and 17(f)(1) of the Exchange Act, as well as Rules 17Ad-1 through 17Ad-11, 17Ad-13 through 17Ad-20, and 17f-1 thereunder; and (2) transfer agents and other persons, including broker-dealers, subject to such requirements, from the requirements of Section 17(f)(2) of the Exchange Act and Rule 17f-2 thereunder (the “Fingerprinting Exempted Provisions”) (collectively, the “Exemptions”).[1] 

The Commission issued two subsequent orders extending the expiration date of the Exemptions.[2]  The most recent order, issued in June 2020, provides that the relief shall be terminated on a date to be specified in a public notice from the Commission staff (the “staff”), which date shall be at least two weeks from the date of the staff public notice. 

The staff is hereby providing notice that the Exemptions will terminate, effective September 6, 2022. 

Transfer agents and other persons who have any questions about this staff statement, are unable to come into compliance with their obligations before the Exemptions are terminated on the September 6, 2022 termination date, or are in need of additional assistance should contact the Division of Trading and Markets at (202) 551-5777 or at tradingandmarkets@sec.gov.  In addition, staff understands that the Financial Industry Regulatory Authority, Inc. (FINRA) will provide frequently asked questions (“FAQs”) and other guidance to assist its members in coming into compliance with their fingerprinting obligations before the expiration of the Fingerprinting Exempted Provisions.  Once available, those FAQs and guidance will be posted here.