Partner Merrill B. Stone participated in a panel discussion on legal developments concerning transfer agents at the Securities Transfer Association's Annual Conference on October 21, 2010. The conference was held in Naples, Florida. Mr. Stone discussed recent amendments to the New York statutes affecting powers-of-attorney, issues relating to requests to transfer securities under Article 8 of the Uniform Commercial Code where the certificates were not presented and the need to obtain indemnity bonds. Mr. Stone is a member of the Legal Committee of the Securities Transfer Association.