What does a stock transfer agent do?

A stock transfer agent maintains the corporate records of shareholders for corporations. The stock transfer agent also records the changes of ownership when shares are transferred to another party. Stock transfer agents for public companies are required to be registered with the Securities Exchange Commission. When a stock transfer agent receives a request to change ownership of the shares, they verify the request using a medallion guarantee.

Medallion Guarantees ensure that the stock transfer agent has received the transfer request from the actual shareholder.

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