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Re: None

Thursday, 02/16/2012 7:45:10 PM

Thursday, February 16, 2012 7:45:10 PM

Post# of 1782
So can I get my physical certs or transfer them to another account when my security is Chilled or in a Global Lock?

Not likely, in fact a “chill” you may find a few willing brokers to take on your certs, but it is getting more difficult. If however your security is in a Global Lock, it is down to one or two at this point, I think Schwab is about it at this point. If you think you could demand the physical certs.. think again.. here is a case in which a customer of Scottrade filed a complaint to FINRA because Scottrade refused to deliver her certs from her IRA account.

http://ww1.prweb.com/prfiles/2012/02/15/9193532/finra%20dispute%2011-00018%20kimball%20summary.pdf

As you can see they told her to pack sand, as there is nothing legally wrong with the situation and that she knowingly purchased risky shares on a less than stellar security and she willingly accepted such risk.
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