Share Cert Form & TDA.
Today I called TDA Customer Service and asked if a local TDA broker could provide Medallion Signature on Share Cert Form. I was transferred to “Reorganization and Safekeeping Department.” Spoke to nice woman who was not familiar with such a form. She asked her supervisor, who likewise was not familiar, but told her they are not sure they offer the service. She asked me to fax the form, which I did along with a cover letter, asking that they fill it out and return it to me by mail. If they could not do this I asked them to suggest an alternative method to certify that I owned PYPR as of 12/20/06.
Initially they said I could take it to any bank and have it signed, which would be a medallion guarantee of my signature, but would not certify the number of shares. This would not be what PNMS is requesting. The form specifically asked for the “Medallion Signature of Broker” who would be the one certifying the number of shares.
My understanding of the Medallion Signature Guarantee is that the signer guarantees your signature when transferring securities. TDA said that they were not familiar with the use of the Medallion Signature as requested by PNMS since there is no place on the Share Certification Form for the signature of the owner of the stocks.
They seem to have a point. Are we sure PNMS is using the “Medallion Signature Guarantee appropriately? See definition below:
WHAT IS A "MEDALLION SIGNATURE GUARANTEE"
A Medallion Signature Guarantee is a stamp provided by a financial institution that verifies your signature. You endorse the certificate on the back and have the signature(s) guaranteed by an eligible guarantor institution such as a commercial bank, trust company, security broker or dealer, credit union, or a savings association participating in the Medallion Signature Guarantee Program approved by the Securities Transfer Association, Inc.
I have asked TDA to call me back with an answer as to what they will do. I will provide more info when I get it.
Any experience or assistance from anyone dealing with TDA and or other brokers would be appreciated.
