diff --git a/contracts/protocol/tokenization/IncentivizedERC20.sol b/contracts/protocol/tokenization/IncentivizedERC20.sol
index ffa090c74..b10df4b0a 100644
--- a/contracts/protocol/tokenization/IncentivizedERC20.sol
+++ b/contracts/protocol/tokenization/IncentivizedERC20.sol
@@ -67,6 +67,7 @@ abstract contract IncentivizedERC20 is Context, IERC20, IERC20Detailed {
   /// @inheritdoc IERC20
   function transfer(address recipient, uint256 amount) public virtual override returns (bool) {
     _transfer(_msgSender(), recipient, amount);
+    emit Transfer(_msgSender(), recipient, amount);
     return true;
   }
 
@@ -95,6 +96,7 @@ abstract contract IncentivizedERC20 is Context, IERC20, IERC20Detailed {
   ) public virtual override returns (bool) {
     _transfer(sender, recipient, amount);
     _approve(sender, _msgSender(), _allowances[sender][_msgSender()] - amount);
+    emit Transfer(sender, recipient, amount);
     return true;
   }
 
@@ -142,7 +144,6 @@ abstract contract IncentivizedERC20 is Context, IERC20, IERC20Detailed {
         incentivesControllerLocal.handleAction(recipient, currentTotalSupply, oldRecipientBalance);
       }
     }
-    emit Transfer(sender, recipient, amount);
   }
 
   function _mint(address account, uint256 amount) internal virtual {