Misuse of Treasury Form PD 1832, "Special Form of Detached Assignment for United States Registered Securities"

The NASD recently has been advised by the Department of the Treasury, Bureau of the Public Debt, of the reported misuse of federal government Form PD 1832, "Special Form of Detached Assignment for United States Registered Securities."

Form PD 1832 is used to certify assignments of registered physical Treasury securities. It should be used only at the discretion of the Bureau of the Public Debt or a Federal Reserve Bank, acting as Treasury's fiscal agent, in one or more of the following circumstances:

• To correct a defective assignment already made on the back of a registered physical security.
  
  
• To accommodate owners required to sign a large number of securities.
  
  
• To obtain the assignment of two or more geographically separated assignors.

Several incidents have been reported to the Bureau of the Public Debt whereby Form PD 1832 was erroneously being used to represent, convey interest in, or prove ownership of a security. The form is not intended for use without an accompanying registered physical Treasury security. As such, it should not be used to assign or establish an interest in book-entry or agency securities.

Form PD 1832 does not by itself convey any interest nor does it imply any ownership in securities described on its face. Even when properly certified and accompanied by registered physical securities, this form is not to be used unless authorized by the Bureau of the Public Debt or a Federal Reserve Bank.

Report any attempted misuse of Form PD 1832 or direct any questions regarding the form to Walter Childs, Director, Division of Securities Accounts, Bureau of the Public Debt, at (202) 287-4040.