All broker/dealers and non-bank transfer agents have notified the SEC that their systems are ready for the date change on Jan. 1, the SEC has announced.
Twenty-three broker/dealers and one non-bank transfer agent certified in SEC filings that they were ready for the year 2000 date change, according to the SEC. The firms faced a Nov. 15 deadline to certify their readiness or face possible SEC legal action which could have led to the shutting down of the firms prior to Jan. 1. By Aug. 31, all other broker/dealers and non-bank transfer agents had notified the SEC that they were Y2K compliant. There are 8,300 broker/dealers and 1,210 non-bank transfer agents registered with the SEC.