Legal Notice System

DTC’s Legal Notice System (LENS) service offers access to a comprehensive online library of notices concerning DTC-eligible securities that are published and furnished by third-party agents, courts and security issuers.

About

The LENS service, developed for DTC participants, enables users to search for notices by CUSIP, keyword, notice type or LENS document number. Once the user locates the desired notice, it may view, download or e-mail it. Users can also do bulk downloads of all recently posted notices.

Who Can Use the Service

DTC participants can use the service. Non-participants may also be eligible to use the service by special agreement and fee schedule; email lensweb@dtcc.com for details.

Benefits

As a centralized information service, LENS is an efficient, cost-effective and customizable data resource for users.

How the Service Works

Prospective users must register for the LENS service. Once approved for LENS web service access, users can search for notices by CUSIP, keyword (such as company name), notice type or LENS document number. Once the system locates the desired notice, a user can view, download or email it. Users can also do bulk downloads of all recently posted notices.

To keep abreast of particular notices of interest, users may register to get free email alerts customized to their business needs. By setting appropriate filters, users receive email alerts either daily or weekly when notices meeting their criteria are posted to LENS. Alerts can be set for specific notice categories or particular CUSIPs.

Informational notices received by DTC as holder of record on depository-eligible securities via its nominee CEDE & Co. are posted to LENS for reference purposes.

The LENS library contains notices categorized as follows:

Legal (LG)

  • Notice to Security Holders
  • Bankruptcies
  • Litigation / Class Actions
  • Defaults
  • Letter of Credit Substitution
  • Cost Basis
  • Dissent
  • Conversions
  • Other

Transfer Agent (TA)

  • Notification under Rule 17Ad – 16 of the SEC Act of 1934

Tax Information (TX)

  • Domestic (U.S. Securities); including Section 19 Notices
  • Foreign (Non – U.S. Securities) Transfer Agent

While email alerts are free of charge, a per-notice fee is assessed if a user chooses to view, download, or email a notice from the LENS service. DTC member firms wishing to access LENS notices on a frequent, ongoing basis may find it more cost effective to become a monthly LENS subscriber; please refer to LENS Pricing information for subscription pricing details.

LENS Pricing for DTC Participants

DTC participants can elect to access notices on a per-notice or subscription basis. A subscription offers unlimited viewing and downloading of notices for a fixed fee.

Service Level Description Rate
Access a Notice Viewing or downloading of a notice during a single user's online session. $21 per notice
On a Pay As You Go Basis E-mail a notice to one or more recipients. $21 per recipient
Subscription Unlimited viewing and/or downloading of notice(s) by multiple users. E-mail a notice to one or more recipients. $2,000 a month per Participant number $21 per recipient


For More Information

Please contact Client Support at 1-212-855-5191 or lensweb@dtcc.com

dtccdotcom