Camper..
Seriously, no one gives certificates to the DTCC. No one.
The DTCC is an electronic ledger controlled by the brokerages grubby little fingers. The DTCC only sees what the brokerages ledge or report to the DTCC.
means anyone can give certs to the DTCC, and the DTCC will subsequently put those certs into the system.
Brokerages are who enter shares into the system once the T/A validates the shares.
The DTCC has to do the diligence to assure the certs it accepts are valid
No, the compliance officers at each brokerage handle the due diligence.
---why did the DTCC allow bad certs into the system----
Because, the brokerages reported those shares are cleared. So, Tom has to go back and legally prove the shares to be fraudulently issued.
The same reason Marco Glisson was dumping unregistered shares of CMKX long after CMKX was revoked. He had a scammy T/A authenticate the shares he was passing around.
Megas has already proven Mario and Pam were fraudulently dealing with improperly obtained shares. Now, Tom needs a court order...or court judgment showing the rest of the shares in the market were not properly issued. The judgment or order is what the DTCC takes as proof to show the rest of the shares are "bad" as you label them.
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