financial services

Custodians, Administrators and Transfer Agents

Negotiating complex regulatory and business factors involved in service provider arrangements

Dechert has one the world’s largest and most respected funds practices. We draw on this experience to handle challenges created by service provider arrangements, from meeting stringent regulatory requirements, to navigating complex compensation and business issues.

Clients rely on our team to form and preserve effective relationships with custodians, administrators and transfer agents. We negotiate service agreements and help to resolve a full range of business and regulatory challenges as well as compensation disputes.

Many of our lawyers gained invaluable experience in this arena while serving in senior positions at the U.S. Securities and Exchange Commission (SEC). They apply their knowledge to counsel corporate and mutual fund transfer agents, advise clients on corporate stock offerings and resales, and guide internal transfer agents in large mutual fund complexes. Our team provides guidance on U.S securities laws to foreign transfer agents involved in global offerings. We also counsel mutual fund clients on the use of foreign transfer agents and global custodians under the Investment Company Act of 1940.

Dechert lawyers often help clients review and establish compliance policies and procedures, as well as develop outsourcing strategies. Clients also look to us to prepare model opinion letters and representations to use when transferring restricted stock.

Counseling service providers

Transfer agents rely on us to help them comply with federal securities laws. We have represented transfer agents in regulatory enforcement actions, including obtaining no-action letters and exemptions from the SEC.

Service providers themselves also turn to Dechert to assist with meeting regulatory compliance requirements that apply to their fund service business. We also help them establish operations procedures and forms, as well as advise on effective recordkeeping.