4429. Transferring securities

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    1. A Dealer Member must maintain a record showing all securities sent to, and held by, transfer agents.

    2. Only authorized employees outside the transfer department should be able to request transfers into a name other than the Dealer Member's name. Only fully-paid securities (new issues excepted) may be transferred into a name other than the Dealer Member’s name.

    3. The transfer department may carry out transfers only when it receives a properly authorized request.

    4. A Dealer Member's security position record must record, and name them as, “securities out for transfer”.

    5. A Dealer Member must have a receipt for a securities position at a transfer agent.

    6. A Dealer Member must prepare, and the department manager or another appropriate manager must review, a weekly ageing of all transfer positions to verify the validity of the positions and the reasons for any undue delay in receiving securities from transfer agents.

    7. Authorized employees handling transfers must not have other security cage functions such as deliveries, or the management of current box and segregated box positions.

    There is no history log for this rule.

    There is no history log for this rule.