LOST SECURITYHOLDERS
The SEC rule 17Ad-17 governs the maintenance and preservation of records within the securities industry. Odyssey, as a transfer agent and registrar for many corporations and other issuers of securities, is required to exercise reasonable care to ascertain the correct address of securityholder accounts by conducting searches to locate lost securityholders. For various reasons, Odyssey may have outdated or incorrect addresses for some securityholders and as a result, those holders may not have received dividend and/or interest payments to which they are entitled.
In an effort to update securityholder accounts, thereby ensuring the accuracy of financial information and safeguarding the rights of property owners, Odyssey conducts semi-annual searches and mails notices to security holders who have been deemed as lost.
In the context of SEC rule 17AD-17, a “lost security holder” refers to an individual or entity whose securities’ records cannot be located when a correspondence is sent to the securityholder at an address on our file and that item is returned to Odyssey as undeliverable. If the item of correspondence is re-sent successfully within one month of being returned as undeliverable, or Odyssey receives information regarding the security holder’s new address, the securityholder is deemed as “found” and is no longer lost.
Odyssey is committed to protecting your personal information and preventing fraud. You may need to provide proof of your identity and/or ownership of the property that you are claiming.
If you have received an SEC Lost Securityholder Search notice, complete the form, and return it by mail, or via the online instructions below.
If you have not received a letter from us with the titled “SEC Lost Securityholder Search” and you are the rightful owner of the securities and have questions about updating your account, or to update your account, please contact us by one of the following options:
- Mail: Odyssey Trust Company
702-67 Yonge Street
Toronto ON M5E 1J8 - Online – Please contact us on our website at odysseytrust.com and select “I am a Shareholder or the holder of other securities” and then select “Submit a claim for my property that has been designated as unclaimed”, ensuring you attach the Account Update Form.
- Phone –Monday to Friday between 7:30 a.m. and 4:30 p.m. MT at 1 (888) 290-1175.
A third-party company was used to search publicly available databases. This company provided Odyssey with the address where the Notice was sent.
However, the obligation to conduct database searches does not apply when:
- Odyssey received documentation that the securityholder is deceased.
- The total value of assets in the securityholder’s account is less than $25.
- The securityholder is not a natural person.
No, Odyssey must receive a duly completed SEC Lost Holder Search Notice or an Account Update Form. Alternatively, your identity and/or ownership of the property can be verified online, via phone, or email before the address on your account(s) can be updated.
After updating your address, Odyssey will release any unissued securities and replace any outstanding payments, as applicable.
No, you will not be charged to update your account.
- Make sure that we have your current address on file; please notify us if you have moved to a new address
- Be sure to read all your mail and email correspondence sent by Odyssey as these contain important information
- Make sure that you cash your cheques, even cheques containing a small balance
- Complete and respond to the SEC Lost Security Holder Search letter.
- Login to your online account
Yes, if you are a legal representative acting on behalf of the accountholder, you must also provide legal documentation to demonstrate your authority to act on their behalf:
General Power of Attorney | A certified copy* of the General Power of Attorney dated within six months. If not dated within six months, the appointed attorney is requested to certify and date on the document that “the document is still in full force and effect and the grantor is still alive” |
Probated Estate | A certified copy of the accountholder’s Letters Probate, Letters Testamentary or Letters of Administration |
Non-probated Estate | A certified copy* of the accountholder’s Last Will and Testament and Death Certificate |
Corporation | A certified copy* of the Corporate or Board Resolution which lists the names and titles of the individuals authorized to sign on behalf of the company. The document must include sample signatures of the authorized individuals. |
Trust | A certified copy* of the Trust Agreement |
Partnership | A certified copy* of the Partnership Agreement |
Minor or Custodian (UGMA) | A certified copy* of the accountholder’s Birth Certificate |
Name Change | A certified copy* of a Marriage Certificate, Divorce Decree or other legal document verifying the name change |
* “Certified copy” refers to a photocopy that has been notarized, court certified, Canadian charter bank certified, or Medallion Signature Guaranteed.
