Which activity is NOT performed by a transfer agent?

The activity that is not performed by a transfer agent is maintaining the issuer's ownership register. Transfer agents are primarily responsible for functions that facilitate the transfer of securities, such as handling lost, destroyed, or stolen certificates, acting as a proxy agent during shareholder meetings, and managing the distribution of dividends or interest payments.

While maintaining the issuer's ownership register is essential for the company itself, it is typically the issuer's role to keep this information accurate and updated. The transfer agent works closely with the issuer but is not in charge of keeping the ownership register in the same way the issuer does. This distinction clarifies the specific functions attributed to transfer agents versus those that remain the responsibility of the issuing company.