The FDIC released a Financial Institution Letter reminding financial institutions about a recent SEC rule, which implements a Dodd-Frank requirement regarding notifications of lost securityholders. The SEC rule applies to “any issuer” of stock (including financial institutions) and other parties that pay stock dividends or interest on debt securities by check. If a payee fails to negotiate the check, the rule requires a one-time notification of the nonresponsive payee. Notifiation must be sent when the next check is sent or after six months since the check was sent to the payee, whichever is earlier. The rule went into effect on January 23, 2014.