[Federal Register Volume 64, Number 98 (Friday, May 21, 1999)]
[Notices]
[Pages 27840-27841]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-12933]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-41391]
Notice of Intention To Cancel Registrations of Certain Transfer
Agents
May 12, 1999.
Notice is given that the Securities and Exchange Commission
(``Commission'')
[[Page 27841]]
intends to issue an order, pursuant to section 17A(c)(4)(B) of the
Securities Exchange Act of 1934 (Exchange Act),\1\ canceling the
registrations of the transfer agents whose names appear in the attached
Appendix.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78q-1(c)(4)(B).
FOR FURTHER INFORMATION CONTACT: Jerry W. Carpenter, Assistant
Director, or Gregory J. Dumark, Staff Attorney, at 202/942-4187,
Division of Market Regulation, Securities and Exchange Commission, 450
Fifth Street, NW., Washington, DC 20549-1001.
Background
On August 12, 1998, the Commission adopted Rule 17Ad-18 under
Sections 17(a) of the Exchange Act, which requires non-bank transfer
agents to file Form TA-Y2K with the Commission.\2\ Under Rule 17Ad-18,
every transfer agent was required to complete and file by August 31,
1998, Part I of Form TA-Y2K reflecting its Year 2000 compliance effort
as of July 15, 1998. Certain larger transfer agents were also required
to complete Part II of Form TA-Y2K.
---------------------------------------------------------------------------
\2\ Release No. 34-40163 (July 2, 1998), 63 FR 37688 (July 13,
1998) (``Adopting Release''). See also Release No. 34-39726 (March
5, 1998), 63 FR 12062 (March 12, 1998) (``Proposing Release''). Rule
17Ad-18 specifically applies to non-bank transfer agents. The term
``non-bank transfer agent'' means a transfer agent whose regulatory
agency is the Commission and who also is not a savings association
regulated by the Office of Thrift Supervision. 17 C.F.R.
Sec. 240.17Ad-18(e).
---------------------------------------------------------------------------
In August 1998, the Commission mailed copies of Form TA-Y2K to all
non-bank transfer agents then registered with the Commission.\3\ In
September 1998, the Commission mailed letters to the transfer agents,
including the transfer agents listed in the Appendix, that had not
filed Form TA-Y2K warning them of the possibility of the institution of
an administrative proceeding by the Commission. Subsequently, the
Commission made additional efforts to locate and determine the status
of transfer agents, including the transfer agents listed in the
Appendix, that did not file Form TA-Y2K. In some cases the Commission
was unable to locate the transfer agent and in other cases the
Commission received notification that the transfer agent was no longer
in existence or had ceased doing business.
---------------------------------------------------------------------------
\3\ The Commission mailed the Form TA-Y2K to the address
provided by each non-bank transfer agent on their Form TA-1. These
addresses should be current, as non-bank transfer agents are
required to update Form TA-1 promptly for any address changes.
---------------------------------------------------------------------------
To date, the 14 registered transfer agents listed in the Appendix
have neither filed Form TA-Y2K nor responded to Commission inquiries.
Based on the facts it has, the Commission believes that these transfer
agents are no longer in existence or have ceased doing business as a
transfer agent. Section 17A(c)(4)(B) of the Exchange Act provides that
if the Commission finds that any transfer agent registered with the
Commission is no longer in existence or has ceased to do business as a
transfer agent, the Commission shall be order cancel that transfer
agent's registration. Accordingly, at any time after June 21, 1999, the
Commission intends to issue an order cancelling the registrations of
any or all of the transfer agents listed in the Appendix.
Any transfer agent listed in the Appendix that believes its name
has been included in the Appendix in error must notify the Commission
in writing prior to June 21, 1999 objecting to the cancellation of its
registration. Written notifications must be mailed to: Gregory J.
Dumark, Division of Market Regulation, Securities and Exchange
Commission, 450 Fifth Street, NW., Washington, DC 20549-1001, or be
sent via facsimile to (202) 942-9695, Attention: Gregory J. Dumark.
For the Commission by the Division of Market Regulation,
pursuant to delegated authority.\4\
---------------------------------------------------------------------------
\4\ 17 CFR 200.30-3(a)(22).
---------------------------------------------------------------------------
Margaret H. McFarland,
Deputy Secretary.
Appendix--Registration Number and Name
84-1758, Corporate Strategic Services, Inc.
84-1997, DC Trading & Development Corp.
84-5406, First Federal Savings Bank Byran Texas
84-1945, Hawthorne Shareholder Services, Inc.
84-5553, The Herman Group, Inc.
84-5522, Keller Financial Services, Inc.
84-1766, Kinlaw Energy Partners Corp.
84-5615, NRG Incorporated
84-5560, Partnership Services, Inc.
84-0047, Penn Square Management Corporation
84-5412, Schuster, Jill Lauren
84-998, Silver Crescent, Inc.
84-5614, Wisconsin Real Estate Investment Trust
84-1566, Yreka United, Inc.
[FR Doc. 99-12933 Filed 5-20-99; 8:45 am]
BILLING CODE 8010-01-M