STA Update

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Welcome to The Securities Transfer
Associations 97th Anniversary and 2008 Annual
Meeting
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Securities Transfer Association
Board Members
Director Robert M. Carney, Sr. BNY Mellon
Shareowner Services Director Mary
Corcoran Invesco Aim Investment
Services Director Salli A. Marinov First
American Stock Transfer Director Todd J.
May Wells Fargo Shareowner Services
Director Jonathan E. Miller StockTrans,
Inc. Director Yehuda L. Neuberger American Stock
Transfer Trust Co. Director William J.
Speirs CIBC Mellon Trust Company Executive
Director Cynthia Jones The Securities Transfer
Association, Inc.
President Charles Rossi Computershare Vice
President Assistant Secretary Thomas L.
Montrone Registrar and Transfer
Company Treasurer Debra H. Hacka National City
Bank Secretary Steven Nelson Continental Stock
Transfer Trust Co.
Executive Committee Members
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Securities Transfer Association
Operations Committee Members (formally Processing
Committee) Co-Chairs John Ulla Mary Rose
Cascaes

• Carmen Buonomo Robert Kristanko
• Kevin Burns Herb Lemmer
• Gregory Caddell Maurice Lynch
• Armando DiBiase Douglas Reed
• Nick Giancaspro Kathryn Sevcik
• Don Gress John Torres
• Craig Keller Karl Wagner Bob
  Winterle

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Legal and Regulatory Committee MembersCo-Chairs
Steven Nelson Stephen J. Dolmatch
Securities Transfer Association
Stephen Cesso Barbara Lubitz Gordon
Glaza Andrea Manning Mark Harmon Mario
Passudetti William Harris Laura S.
Pruitt Blanche Hurt Susanne Schaming Herb
Lemmer Merrill B. Stone Ronald
Logan Catherine Wexler
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Securities Transfer Association
Other Committees

• Fraud Prevention Committee
• Membership Committee
• Unclaimed Property Committee
• Proxy Committee
• Small Agents Committee

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SEC Update New Commissioners
Securities Transfer Association

• Chairman Cox (R)
• Kathleen Casey (R)
• Elisse Walter (D) replaced Nazareth left
  January 2008
• Luis Aguilar (D) replaced Campos left in Fall
  2007
• Troy Parades (R) replaced Atkins term expired

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Securities Transfer Association
STA Year in Review

• SEC Activities
• Met with the Chairman 10/07, commissioners
  Annette Nazareth and Paul Atkins on 12/07,
  met with Chairmans office on 9/08, and with
  Luis Aguilar and Troy Parades
• Proxy Reform
• DTCCs Rule Filing
• Transfer Agent Rules
• SEC Rulemaking
• Met with trading and markets on 10/2
• Processing
• Insurance
• Disclosure
• Contracts
• Communications
• Separation of Shareholder Funds

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Securities Transfer Association
STA Year in Review

• DTCC Rule Filing
• Status of DTCs proposed DRS/FAST requirements
  for transfer agents
• Fourth version published in May, with comments
  solicited
• Few changes from earlier versions
• DTCs authority to implement such rules continues
  to be questioned
• STA has held meetings with the SEC Chairman,
  staff and commissioners to voice concerns,
  including DTCs authority to impose, requirements
  in excess of normal business practices, and
  additional costs to issuers and agents

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Securities Transfer Association
STA Year in Review

• NYSE Proxy Working Committee
• Review of proxy fees, specifically managed
  accounts
• Issuers paying for the suppression and processing
  of managed accounts
• Broadridge Notice Access pricing
• NYSE to establish a committee to review pricing
• Over-Voting not completely resolved
• Significantly fewer instances of over-voting than
  in the past
• Discussion focused now on Pre - versus Post
  reconcilement methods

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STA Year in Review
Securities Transfer Association

• Cost Basis Recordkeeping
• Through the STA we met with various committees to
  educate them about our industry and obstacles to
  implementation
• House Ways Means
• Senate Finance
• Treasury
• DSPP DRP treatment
• Will increase compliance with IRS capital gains
  reporting to drive a 4.1 6.67 billion increase
  in tax revenue over 10 years passed as part of
  the rescue bill on October 3rd

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Securities Transfer Association
STA Year in Review

• Shareholder Communications Coalition
• Includes Business Roundtable, Securities Transfer
  Association, National Association of Corporate
  Directors, National Investor Relations Institute,
  Society of Corporate Secretaries and Governance
  Professionals
• Dedicated to improved shareholder voting and
  communication
• Have petitioned the SEC for rule-making regarding
  shareholder communications
• Suggest that proxy reform items be considered in
  one bundle
• Direct, inexpensive issuer access to registered
  and beneficial shareholders for communications,
  shareholder access to management proxy, Rule 452
  discretionary voting

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STA Year in Review
Securities Transfer Association

• Dematerialization
• Move all, sell fractions.Agents getting paid for
  doing the developmental software changes. Of the
  7,500 listed companies 20 have not opted in
• DRS Education Committee

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Securities Transfer Association
Thank you for attending the conference.
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