On March 22, the Securities and Exchange Commission announced that registered transfer agents and certain other persons would be provided with conditional relief from their regulatory obligations under federal securities laws through May 30, 2020. Among other conditions, persons that wish to avail themselves of the regulatory relief must provide written notice to the SEC that such person is taking advantage of the relief, a description of the specific regulatory obligations that the person is unable to comply with, and a statement of reasons explaining why the person is unable to comply with such obligations. However, transfer agents shall continue to be subject to the requirements of Securities Exchange Act of 1934 Rule 17Ad-12, which requires transfer agents to adequately safeguard securities and funds in their possession or custody.

The press release and SEC Order are available here.