Congress directed the establishment of the Lost and Stolen Securities Program (LSSP) to curtail trafficking in lost, stolen, missing, and counterfeit securities certificates. Rule 17f-1 under the Exchange Act governs LSSP operations. The LSSP consists mainly of a database for securities that have been reported lost, stolen, missing, or counterfeit. The LSSP has two essential parts: “reports” and “inquiries.” Most financial institutions (including exchanges, banks, brokers, clearing agencies, and transfer agents) are required to report any certificates that they discover to be lost, stolen, missing, or counterfeit. These institutions also must inquire of the LSSP about any securities certificate valued at more than $10,000 that comes into their “possession or keeping.” These financial institutions also may voluntarily report or inquire about other certificates.
World Investor Week - Investing Quiz (October 2021)
Test your knowledge on common investing terms and strategies and current investing topics.
U.S.-Listed Companies Operating Chinese Businesses Through a VIE Structure
Learn about investing risks in certain companies that provide exposure to China-based businesses.
Taking Stock in Teen Trading
Read our latest Director’s Take article which discusses teen trading accounts, social media influence, apps, and more!