The document discusses a webinar on the NICSA 2019 Transfer Agent Compliance Guide, featuring insights on regulatory requirements such as GDPR, customer due diligence, and 30e-3 objectives. It highlights the collaboration of various organizations since 1995 to create a comprehensive resource for transfer agent managers and compliance teams. Additionally, it provides information on accessing the guide, which serves as a training tool and reference for operational regulations.

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New Challenges on the TA
Compliance Landscape
May 29, 2019
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Presenters
Tim Johnson
Partner
Reed Smith LLP
Bridget Ireland
Compliance Officer
FIS Investor Services
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James Kramer
Vice President
Northern Trust Company
Moderator

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A guided tour of the NICSA 2019 Transfer Agent Compliance Guide
The latest insights on GDPR regulations, Customer due diligence and
30e-3
Objectives
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A Collaborative Effort of the Mutual Fund Industry
Activities began in 1995
Involved experts from multiple organization representing various disciplines
Audit firms - Coopers & Lybrand, Price Waterhouse
Service providers - Firstar, Mutual Fund Service Company, BFDS, DST Systems. TSSG, SunGard
Fund Managers - AIM, Colonial, MFS, Federated. T Rowe, Keystone, TSSG, Oppenheimer, Calvert, USAA,
Twentieth Century & several others
Objective: Identify and summarize all transfer agent regulatory requirements within a reference manual or
user document to be useful as a tool for middle level transfer agent mangers. This document can be used
as a training tool, for audit assistance, as a daily reference resources, etc. in order to consistently apply
industry operational regulations
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NICSA Transfer Agency Compliance Guide
Championed by the NICSA Compliance and Transfer Agency Committees
Compliance Sub-Committee members;
 Engaged with industry on most important areas to cover
 Diligently met regularly, reviewed and established milestones to progress the guide
 Assumed responsibility for different sections
 Completed work incrementally
 Published Compliance Tutorial in 1996
Initial areas addressed;
 Administrative
 TA transaction processing
 Tax issues
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What’s In It?
- Transfer Agent Registration Requirements
- Fingerprinting
- Pay to Play
- Compliance Programs
- Business Continuity
- Sarbanes-Oxley Certifications
- Annual Study and Evaluation of Internal
Accounting Control
- Money Laundering and Fraud
- Privacy and Data Protection
- Blue Sky
- Transactions in Fund Shares
- Signatures and Paperless Legals
- Rule 22c-1 and As-of Transactions
- Rule 22c-2 and Intermediary Oversight
- Rule 2a-7; Money Market Funds
- ACH Rules
- Confirmations and Shareholder
Document Delivery
- Lost Securityholders and Unresponsive
Payees
- Record Retentions
- Responding to Written Inquiries and
Requests
- Safekeeping of Assets
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What’s In It? (Cont’d)
- Backup Withholding
- Non-Resident Alien (“NRA” Withholding
- FATCA Information Reporting and Withholding
- Taxpayer Identification Number (TIN)
Compliance
- Tax Information Reporting
- Cost Basis Reporting
- Traditional IRA Distributions, RMDs, Excess
Contributions
- Transfer of Assets and Rollovers
- Roth IRAs
- SEP IRAs
- SIMPLE IRAs
- Coverdell Education Savings
Accounts
- 529 Plans
- ABLE Accounts
- Retention Requirements (Appendix)
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Use of Guide
 One stop (regulatory reference) shopping
 Resource for Operations, Compliance & Legal teams
 Good reference for auditor, regulatory and client inquiries
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How Can I Gain Access to the Guide?
Printed Reference Guide
 Available to NICSA members at discounted price:
(To order, visit the “Store” on NICSA's member portal)
 $175 for NICSA members
*Plus a one time shipping and handling fee.
Digital Version
Annual updates are posted on the NICSA website on June 1! Available to NICSA members via
subscription on the member portal.
Sponsored by:
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10. Q&AQUESTIONS & ANSWERS SESSION
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