March 29, 2010
File number SR-DTC-2010-04
This comment is submitted on behalf of Wells Fargo Bank, N.A. (Wells Fargo), a registered transfer agent. Wells Fargo is not opposed to the proposed change to Rule 17Ad-16 limiting notifications under the rule to delivery by e-mail. However, Wells Fargo requests clarification as to whether, for purposes of the rule, assumption of transfer agent services on behalf of an issuer includes only those securities issues which are moved between agents or includes also those newly-issued securities (primarily debt securities) for which a transfer agent is serving as the issuer's agent for the first time.