• Ready or Not: Lost Securityholders, Uncashed Checks and Dormant Accounts
  • August 9, 2013
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • In the dog days of August, it would be tempting to put aside challenges created by new Securities and Exchange Commission (SEC) rules. But we all know that would be a mistake. Instead, attention needs to be paid now to new rules requiring searches for lost securityholders and persons holding uncashed checks, and - if that weren’t enough - to state audits of dormant broker-dealer accounts. So take the dog to the pool and get back to your office. In less than six months’ time, broker-dealers with customer accounts will be required to search for lost securityholders, and paying agents - a group that can include companies not otherwise regulated by the SEC - will need to track and trace uncashed checks.