Yup, they're partial shareholders. Exchanges and banks hold a larger percentage of ownership. Surely, you don't think they held a shareholder meeting to vote on what happened to BCIT.
Just like we don't have a say in the ongoing operations of a company whose stock we own, they don't either. It falls on the shoulders of the officers and elected BoD. Most, or even all of them, work in the industry. For BCIT, the decision may have been handled at a lower level.
the fact is that etrades responses are inconsistent...
Yeah, that's typical. Discount brokers don't seem to put sharp people on their customer service desks. It could be that they're just inexperienced. At mine, reps handle routine stuff okay but run to someone else whenever it's more complicated.
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"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
-- Warren Buffett
