[23743]
August 31, 2009
TO: TRANSFER AGENT ADVISORY COMMITTEE No. 64-09 RE: ACTION ITEM RECAP - TAAC MEETING JULY 21-22, 2009
The following action items were discussed during the Transfer Agent Advisory Committee meeting held on July 21-22, 2009 in Washington, D.C.
- ToRA Task Force – The ToRA Task Force will be developing a ToRA webinar this fall or winter, once the following occurs:
ToRA Business Guide & Systems Guide receives approval from DTCC’s legal staff
DTCC Important Notice with remaining ToRA enhancements is issued
- Cost Basis Reporting (CBR) Task Force – The TAAC meeting participants were asked to provide comments on the attached draft Fund CBR checklist, which is being developed as a resource for funds to use as they implement cost basis reporting. Comments on the checklist can be submitted to Diane Butler at butler@ici.org. The CBR Task Force will continue to meet. In the next phase of the project the TF will identify any CBR considerations for each transaction type.
- Abandoned Property Task Force – The Task Force, which began meeting in June, is discussing a number of issues with states’ current escheatment guidelines. The TF will do further research on current practices for escheatment of fund shares from omnibus accounts and other assets by broker-dealers. Once the group reaches a consensus on their current list of escheatment issues, the Task Force will work with NAUPA, the National Association of Unclaimed Property Administrators, in an effort to bring about positive change.
- Future Projects/Meeting Presentations – The TAAC has a full slate of projects at this time, but when we are able to take on a new one we will consider member recommendations including an update the Customer Authentication Survey that was conducted in 2006 and a review of TA processing changes to support the Signature Validation Program (“SVP”). One presentation idea was offered for the October meeting – an educational session with vendors in the summary prospectus space.
- 2010 Meetings/Operations & Technology Conference – Meeting participants were in favor of holding the spring TAAC meeting on May 4-5 in Washington D.C., in conjunction with the 2010 Operations & Technology Conference. The Operations & Technology Conference will be co-located with the General Membership Meeting and the Compliance Conference, and will take place at the Marriott Wardman Park Hotel May 5-7, 2010.
The final agenda for the meeting is attached for your information. Please contact me at 202-326-5850 or butler@ici.org if you have any questions.
Diane M. Butler
Director - Transfer Agency & International Operations