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Regulation S-P in practice for transfer agents

Exhibits binder sits on the witness table
Photo: Brooks Kraft LLC/Corbis via Getty Images

The Division of Examinations outlined the rule’s historical foundations, the practical approach exam teams will take, and the heightened expectations around vendor oversight and recordkeeping.

Regulation S-P has evolved from a narrow privacy framework into a core regulatory obligation for transfer agents, many of whom are now subject to safeguard requirements for the first time.

While the rule has existed for more than two decades, its recent amendments represent a fundamental shift in how transfer