registrar and transfer agent

registrar and transfer agent
USA
An agent, usually a commercial bank, appointed by a company to maintain records of security owners. A transfer agent's principal functions are to issue and cancel certificates to reflect changes in ownership of the securities of an entity and to act as an intermediary for the company. A registrar's function is to maintain the register of the issuer for each issue of securities. The registrar records the name, address and tax identification or social security number of each individual and entity that owns the securities of a company. It is rare that the transfer agent and registrar are not the same entity. While this is not a requirement, generally companies want to retain only one entity to provide both services because it is more time-effective and cost-effective.
Related terms

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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