Friday, April 28, 2023 8:39:22 AM
THE DEPOSITORY TRUST COMPANY (DTC)
DTCC's subsidiary, The Depository Trust Company (DTC), established in 1973, was created to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making "book-entry" changes to ownership of the securities.
In other words, DTC holds all shares and only changes the owner names when bought or sold.
JT long ago said he would not register NSAV shares, (costs money) and so they remain unregistered. Etrade doesn't have that rule, and I've been trading with NSAV since 2008. Never a problem until new SEC rules about trading delinquent company shares, or caveat emptor. So, it is brokerages that have different rules.
NSAV will never be able to uplist until their shares are properly registered. That includes the 'dividend' shares that we've had for 6 years now. I still have a half million of those.
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