Sichenzia Ross Ference Kesner Partner Harvey Kesner Quoted on DTC Rule Changes
Press Release – New York, NY – December 15, 2016 – Sichenzia Ross Ference Kesner LLP partner Harvey Kesner was quoted by the FinOps Report in an update to its article titled “Transfer Agents, DTC Still Chilly On Issuer Freeze Policies.” The article discusses the Depository Trust Company’s (DTC) rule changes which specify four circumstances under which the DTC can “chill” or “lock” issuers out of its services. The SEC is responsible for approving any rule changes made by the DTC, the US national depository, and approved the new rules on December 6, 2016.
“The vast majority of the new rules represent a dramatic improvement over the DTC’s historic practices and will benefit issuers greatly,” says Harvey Kesner, a partner with the law firm of Sichenzia Ross Ference Kesner in New York. “However, in allowing the DTC to retain some discretion, the SEC is potentially harming issuers, transfer agents and investors, should the DTC not be judicious in using its discretion.”
Please read the full article here (http://finops.co/investors/dtc-and-transfer-agents-still-chilled-over-issuer-freeze-policies/).
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