As audits and escheatment become increasingly aggressive, EQ Unify proactively goes above and beyond SEC requirements to protect our issuers and their shareholders from risk.
Lost shareholders and dormant accounts create unnecessary expense and risk for your company and your shareholders. In response, EQ Unify, an affiliate of Equiniti, was formed. EQ Unify created a dedicated team of specialists who work to protect the issuer community and their shareholders from the potential impacts of escheatment, fraud, and costs associated with maintaining dormant accounts.
An ounce of prevention
We believe that prevention is the best way to protect issuers and shareholders against escheatment and potential fraud. Our dedicated team of experts casts a wide net to look at all types of accounts, and all possible criteria for escheatment. This includes deceased shareholders and dormant accounts, as well as corporate and foreign accounts exempt from SEC searches. Once the rightful owners are located, dedicated agents in our Milwaukee Customer Care Center are standing by to help them complete documentation to reunite them with their assets.
What is escheatment?
Escheatment is the process of identifying property, such as shares or cash, that are considered "abandoned." In accordance with state laws, the property is turned over to the shareholder's last state of residence or, if the state of residence can’t be identified or the shareholder is not a US resident, the state where the issuer is incorporated. The escheatment process is full of risk for shareholders, who stand to lose their assets, and issuers, who may face audits or stiff penalties for non-compliance.
Download our Escheatment 101 White Paper.
Our services
Lost Shareholder Searches
Lost Shareholder Searches are routine searches required of all transfer agents pursuant to SEC Rule 17Ad-17, and focus on accounts whose mail is returned undeliverable.
- Consists of conducting at least two database searches to locate shareholder
Enhanced Asset Location
Enhanced Asset Location services focuses on lost accounts not eligible for SEC search, and dormant accounts.
- Locates shareholders or rightful owners and reunites them with their assets
- Reduces risk and costs associated with escheatment and dormant accounts
- No cost to the issuer, shareholder paid contingent upon transfer or liquidation of asset
Unexchanged Shareholder Programs
Performed 6-9 months after a merger or acquisition, an Unexchanged Shareholder Program locates and aids investors in facilitating an exchange for cash or new shares as a result of the corporate action.
- Reduces risk of escheatment
- No cost to issuer
Oddlot Programs
An Oddlot Program is a voluntary program, offered to low volume shareholders as an affordable and convenient way to sell shares or increase holdings.
- Voluntary program offered to shareholders with under 100 shares
- Minimizes escheatment and maintenance costs
- Often leads to increased shareholder engagement
Why EQ Unify
Our team
The EQ Unify team has dedicated management, located in Pennsylvania, with more than 40 years of experience in unclaimed property, and dedicated agents in Wisconsin to assist rightful owners with asset recovery.
Proprietary system
EQ Unify's proprietary system was developed by our team of experts to meet the needs of our issuers. This single, in-house softward platform is used for all EQ Unify services.
- Direct integration with EQ systems to maximize data security
- Full-disclosure model educates and provides options for owners to act