Lost securityholders pose a challenge to companies in two important ways:
- Many times a securityholder is not aware that he or she has lost shares, causing frustration and anger when his or her assets have been turned over to the province as unclaimed property.
- Companies are legally responsible for performing due diligence to try and locate missing securityholders.
No one wins when a securityholder’s assets go unclaimed. The securityholder risks having legally owned property turned over to the province. The issuing corporation faces the time-consuming and costly process of complying with provincial unclaimed property laws. This is why AST’s lost securityholder search service plays an invaluable role in helping locate securityholders and reuniting them with their lost shares, creating a positive outcome for the securityholder and the company.
Lost securityholder planning begins long before our services are actually needed. When you enlist AST for its asset recovery services, our professionals will work directly with your company to create a customized strategy to address your business’s needs with securityholder identification serving as an important component of the strategy. That way, we are ready should an issue arise.
Our experience and scope of resources have earned us recognition for being a leading lost securityholder service provider, and when you partner with us, you can expect fast results and meticulous recordkeeping. First, our access to multiple databases and tremendous research capabilities greatly expedite the search process. Once an individual is located, our first-class mailing operation will generate timely, personalized correspondence. We track all correspondence sent to newly located securityholders and follow up until we receive a response. Plus, by carefully documenting our processes, we meet unclaimed property statutory requirements and provide a clear paper trail of all securityholder correspondence. Finally, our highly secure technology platform enables seamless transmission of this data to appropriate government agencies.
AST’s Asset Recovery Services offer value to your business in several key ways:
- Highly cost-efficient, streamlined services
- Assumed responsibility for all administrative and day-to-day operations. Your company’s direct involvement is minimal
- Improved securityholder registry and records management
- Enhanced communication to securityholders, including customized correspondence
- Facilitated transmission of data to all applicable government agencies
- Compliance with all statutory, documentation, and recordkeeping requirements
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