TA-1, an interagency form, is used by entities wishing to act as a transfer agent to register before performing transfer agent functions and to amend registration information as necessary. The information collected includes the company name, all business addresses, and information about the registrant's proposed activities as a transfer agent.
Purpose: The Federal Reserve uses the information to act upon registration applications and to aid in performing supervisory duties. The Federal Reserve forwards copies of completed registration forms to the Securities and Exchange Commission, which maintains registration data to aid in its statutory mandate to develop rules and standards applicable to all registered transfer agents.
Section 17A(c) of the Securities Exchange Act of 1934, as amended in 1975, requires all transfer agents for securities registered under section 12 of the act to register "by filing with the appropriate regulatory agency...an application for registration in such form and containing such information and documents...as such appropriate regulatory agency may prescribe as necessary or appropriate in furtherance of the purposes of this section." The Board's Regulation H and Regulation Y implement the provisions of the act. The interagency reporting form was developed and implemented in 1975.
State member banks and their subsidiaries, bank holding companies, and certain nondeposit trust company subsidiaries of bank holding companies. Reporting is required.
The act requires supervised institutions to register prior to performing the functions of a transfer agent. Registration becomes effective forty-five days after receipt of an acceptable FR TA-1, unless the Federal Reserve takes action to accelerate, postpone, or deny registration. Registered agents must file amendments within sixty days of the date on which the information reported in previous filings has become inaccurate, incomplete, or misleading.
The registration statements and amendments are public filings. The information is not published.