SEC Proposes First Major Transfer Agent Overhaul Since the 1980s, Writing Blockchain Into the Ownership Record

The SEC has proposed a significant update to transfer agent regulations, marking the first major overhaul since the 1980s. The proposal includes provisions to allow blockchains to serve as official records of share ownership, the rescission of one existing rule, the addition of two new rules, and the imposition of enhanced risk-management and cybersecurity requirements on firms responsible for maintaining ownership records.