Preventing brokers from loaning your ELTP shares and start thinking about how to fight back....
GME traders are gearing up to take out the shorts (especially those that are naked). Search the boards for Roaring Kitty DFV and read about what they are working on to battle the street and the worst of the short traders.
Understanding Direct Registration
If an issuer offers direct registration for its securities, you can choose to be registered directly on the books of the issuer (maintained by its transfer agent) even if you bought your securities through a broker-dealer.
Direct registration allows you to have your securities registered in your name—rather than in the name of a brokerage firm—without the need for a physical certificate, which could be lost or stolen, to serve as evidence of your ownership. While you won’t receive a certificate, you will receive transaction advice detailing any transactions, as well as periodic account statements, dividends, annual reports, proxies and other communications directly from the issuer or its transfer agent.
Issuers or transfer agents typically don’t charge fees for direct registration. However, you might be charged for transferring securities from one form of ownership to another. Always ask your broker-dealer and the issuer about potential costs if you’re considering transferring securities to a different form of ownership, such as from street name to direct registration.
Here are some factors to keep in mind if you’re considering buying or selling direct registered securities:
Purchases:
Purchases made through the issuer (or its transfer agent) of securities you intend to hold in direct registration are usually executed under the guidelines of the issuer’s stock purchase plan. You’ll need to instruct the transfer agent to move the securities to the DRS.
Issuers’ transfer agents typically don’t maintain cash accounts for investors. When you make a purchase, you’ll need to send the transfer agent the necessary funds.
Purchases through issuer plans are typically processed on a “batch processing” basis, so there may be a time lag before the order is executed. In rapidly changing markets, this could result in receiving a different price than you intended.
