Any of you guys ever here of Reg FD? It requires Full Disclosure. Basically, Harris can't tell you guys something without telling the whole world.
Secondly, brokerages don't hold physical securities. THey are all held book entry at DTC (Depository Trust Company). That is one of the reasons that the industry was able to switch to T+3 a few years back. In fact, the regulators want to go to T+1, but the industry worries there'd be more extensions they'd have to file.
Lastly, if there's a merger taking place, they've got to do an S-4.
