Scottrade are still lying through their teeth
Reply Date: 12/6/2011 8:55:15 PM
Subject: RE: Scottrader Support XXXXXXXX
Dear XXXXXX:
We no longer offer physical stock certificates. This change was made in response to an initiative by the Depository Trust & Clearing Corporation (DTCC) to eliminate physical certificates.
DTCC discontinued the issuance of physical certificates for most securities on Jan. 9, 2009 and the remaining stocks were discontinued in July 2009. This is a Securities and Exchange Commission (SEC) approved, industry-wide change that will affect all investors regardless of the brokerage firm issuing the certificates.
If you still wish to receive a physical stock certificate, and the security is eligible to transfer through the Direct Registration System (DRS), you can have your shares transferred to an account with the company's transfer agent at no cost. You will need to complete an Direct Registration System Request - Outgoing form and submit it to your local Scottrade team for processing. This form is available online through our Forms Center. Please contact your local Scottrade team for assistance in determining whether your security is eligible for transfer through the DRS system.
Please keep in mind that not all securities are eligible to be issued by the transfer agent in physical certificate form. As such, you may want to contact the transfer agent of the company first to verify that a physical stock certificate can be issued and to determine the fee(s) they may charge.
Please let us know if we may be of further assistance.
Sincerely,
Zak M.
National Service Center | Scottrade, Inc.
Muppets- sorry Kermit
AI
