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Ondo Asks SEC to Adapt Transfer-Agent Rules for Onchain Securities
Ondo urged the SEC to preserve direct and intermediated holding routes, recognize public-blockchain records and reduce repeated reviews for routine tokenized-security transfers.
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Ondo Finance submitted a November 3 comment letter on the SEC’s proposed transfer-agent rule overhaul. The filing supports modernization but asks the agency to preserve distinct issuer, intermediary and linked-security records, recognize authorized agents serving investors and provide predictable electronic connections to issuers’ transfer agents.
Ondo also argues that a transfer agent can control legally effective record changes without controlling a public blockchain’s consensus. It recommends protected offchain identity records for routine downstream activity, documented program-level legal reviews when material facts remain unchanged, and transaction-level escalation when facts or risks change.
The SEC proposal would amend transfer-agent rules and forms, add two rules and rescind one existing rule. Ondo’s letter is advocacy submitted during that rulemaking; it does not change current law or establish that the SEC will adopt the requested framework.
Sources
- Ondo Finance — SEC transfer-agent rules comment letter
- U.S. Securities and Exchange Commission — Transfer Agent Rules proposal
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Key takeaways
- //Ondo filed its comment on November 3 in the SEC's transfer-agent rulemaking.
- //The company wants reliable electronic access to both direct-registration and intermediated holding systems.
- //Ondo says record control on a public blockchain need not require control of network consensus.
- //The filing is a policy request, not an adopted SEC rule.
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