A direct registration system drs is a method of recording shares of stock in book entry form. A registered shareholder is the owner of record on the books of the corporation, generally kept by the transfer agent. Functions of a transfer agent transfer agents help corporations keep tabs on who owns their bonds and stocks. A stock transfer agent or share registry or transfer agency is a company, usually a third party unrelated to stock transactions, which cancels the name and certificate of the shareholder who sold the shares of stock, and substitutes the new owners name on the official master shareholder listing. Bookentry share ownership through a direct registration system 1. Frequently asked questions about the exchange of your aetna. Confirm that broadridge is the transfer agent our name will usually appear on your account statement. Holding your shares in this method eliminates the need for stock certificates, which can be lost or damaged.
Mar 06, 2020 please refer to page two of the legal transfer form for additional document requirements based on your stock transferring situation. The owners name and address are printed on the certificate. Computershare has been authorized by prudential financial, inc. Today most shares are kept in paperless fashion and shareowners have the option to conveniently convert all valid certificates to direct registration. You are a registered shareholder if you hold your stock in certificate form or if your stock is held in bookentry form at our transfer agent, computershare. Book entry is a method of tracking ownership of securities where no physically engraved certificate is given to investors. Bookentry ownership is more convenient for investors because it eliminates the risk of lost or stolen certificates and the cost to replace the lost or stolen certificates, and the sale or transfer of the stock is simplified. Drs allows your shares to be held in book entry form registered in your name in an account created for you at our transfer agent, computershare investor services. A clearing organization is defined as an entity that is in the business of. Stock transfer agent vs brokerage firm account 2020. Book entry share ownership through a direct registration system 1. The ability to register a stock certificate is still possible, even when the stock is purchased electronically. Mar 04, 2003 direct registration the security is registered in your name on the issuers books, and either the company or its transfer agent holds the security for you in bookentry form.
The direct registration system drs is a service offering by the depository trust company dtc which provides registered shareholders of the issuer with the option of holding their assets shares on the books and records of the transfer agent in bookentry form instead of a physical stock certificate. Us irs issues proposed regulations on registration required. In the past, you may have been mailed paper certificates. Jan 31, 2020 shares are registered in your name in book entry form at the transfer agent.
Book entry form of registered ownership allows you to own shares without having paper stock certificates in your possession. The direct registration form of ownership allows registered shareowners to maintain their shares in book entry form without the need of a physical certificate. Your point of contact is the transfer agent, not the company. Dividend payments and stockholder communications are sent to you at the address on file with the transfer agent. Drs is a service offering by the depository trust company dtc, which provides registered shareholders of the issuer with the option of holding their assets shares on the books and records of the transfer agent in book entry form instead of a physical stock certificate. Also referred to as direct registration or drs, bookentry allows dows transfer agent, computershare, to maintain your shares on the books of the company electronically. Through dtcs drs service, assets can be electronically transferred to and from the transfer agent and brokerdealer to easily move shares in and out of drs. If you have book entry shares, you will receive a statement of your holdings on a yearly basis. Jun 26, 2019 book entry securities are investments such as stocks and bonds whose ownership is recorded electronically. How can i deposit my certificated shares to drs book entry form at the transfer agent. Frequently asked questions bookentry share ownership through. If you are a registered shareholder meaning you hold physical metlife, inc. A registered owner appears on the list of stockholders of record maintained by computershare for xerox. I have a target stock certificate in my possession andor i hold shares in book entry form with targets transfer agent, eq shareowner services.
Book entry shares are shares managed electronically by the transfer agent. A mutual funds transfer agent is identified in the mutual funds prospectus. First, the proposed regulations provide that an obligation is considered to be in registered form if it is transferable through a book entry system, including a dematerialized book entry system, maintained by the issuer of the obligation, an agent of the issuer, or a clearing organization. The book entry form of registered ownership allows you to own shares without having paper stock certificates in your possession. The direct registration system also known as drs allows investors to transfer securities held this way. The registered shareholder may be an individual, a trust, a broker, etc. Computershare maintains shareholder records, disburses and reinvests dividends, replaces dividend checks, transfers shares for ownership changes, and issues and holds shares on behalf of shareholders in bookentry form. The absence of physical certificates means that mutual fund transfer is a book entry operations, with recorded ownership maintained in the transfer agent s computerized recordkeeping system. Today, transfer agents issue certificates in bookentry forman electronic method of recording securities ownership that saves vast amounts of time and money. This is generally convenient, as one does not have to preserve physical stock certificates, and can buysell securities without turning certificates in or having new ones issued. The book entry form of registered ownership allows a person to own shares without having physical stock certificates in their possession. Transfer agents responsibilities also include the transfer, issuance and cancellation of an issuers shares.
Oct 12, 2017 section 17a c of the 1934 act requires that transfer agents be registered with the sec, or if the transfer agent is a bank, with a bank regulatory agency. Federal register guidance on the definition of registered form. If you wish to transfer your shares from your drs account at eq shareowner services to your brokerage account, whether or not you plan to sell your shares, contact your broker and provide him or her with your drs account information. Although transfer agents are commonly associated with the transfer of shares of common stock, transfer agents may also handle other types of securities whose ownership is registered, such as bonds. Direct registration system drs what is drs direct registration system. However, we recommend that you hold your registered shares in book entry form. To transfer ownership, the current owner endorses signs the certificate and presents it to the issuers transfer agent. Common stock held in book entry form at computershare. You may open and maintain a book entry account with us through our transfer agent, computershare. Frequently asked questions bookentry share ownership.
A transfer agent keeps records of who owns a publicly traded companys stocks, bonds and other securities. You are the record owner and enjoy the same shareholder benefits as you would with certificated shares. Direct registration the security is registered in your name on the issuers books, and either the company or its transfer agent holds the security for you in bookentry form. Bookentry shares have the same rights and privileges as certificated shares, along with these. Securities are tracked electronically, rather than in paper form, allowing investors to trade or transfer securities without having to present a paper certificate as proof of ownership. Transfer agent overview contents executive summary 3 what is stock. Section 17ac of the 1934 act requires that transfer agents be registered with the sec, or if the transfer agent is a bank, with a bank regulatory agency. If you were listed on the books of aetna s transfer agent as a registered shareholder and held all of your aetna shares in bookentry form, the exchange agent automatically created a bookentry account for you and electronically credited your account with shares of cvs health common stock. The fourth and final method is also a form of direct registration, except that the purchase goes through a transfer agent, who holds the security in bookentry form after the transaction. Shareholder informationtransfer agent zimmer biomet. A direct registration system drs is a method of recording shares of stock in bookentry form.
Bancorp is a participant in the direct registration system drs. Direct registration system drs dtcc securities processing. Transfer agents process all types of securities in book entry form, in whatever. Book entry ownership eliminates the risk that your stock certificates may be lost, stolen or destroyed and also makes it more convenient to transfer or sell your shares. Book entry securities eliminate the need to issue paper certificates of ownership. Bookentry registration is an easy and safe alternative to paper certificates. A periodic statement of account is provided to the holder of book entry shares, reflecting the number of shares registered in your name and held by computershare. Registered shareholders receive dividends, proxies and other communications directly from the corporation via the transfer agent or the corporation directly. If you would like to take advantage of the convenience of having all shares held in drs book entry form, you can mail your certificates to. Your broker will then electronically initiate the transfer of your book entry shares based on your instructions. Please refer to page two of the legal transfer form for additional document requirements based on your stock transferring situation.
Also referred to as direct registration or drs, bookentry allows dowduponts transfer agent, computershare, to maintain your shares on the books of the company electronically. You are a foreign investor if you do not have a uscanadian social security number or tax id associated with your account, and if you hold your ncr common stock directly in certificated from or in book entry form through ncrs transfer agent. If you hold shares in drs book entry no certificate, please follow the steps below. Stockholders wishing to view future annual reports and proxy statements over the internet rather than receiving copies in the mail should complete the online consent form at s. Jun 04, 20 registered bonds are also issued as engraved certificates, but the issuer maintains a record of who owns each bond. Common stock held in bookentry form at computershare.
1633 1222 963 1070 1174 1212 545 817 1098 990 755 190 220 237 959 1044 1604 1233 1253 1399 479 600 1041 1281 1121 587 112 1123 624 881 1475