That's weird indeed. Here in Belgium, and the most part of Europe I think, online banks/brokers are getting more and more popular and trying to steal clients from more classic banks, where you sometimes had to wait several days before you saw the stock you purchased actually appear in your portfolio. Don't you have something similar there. For example Binck Bank is making huge publicity that they will even pay you back the transfercosts if you transfer your portfolio to them. Other publicity is that you get a 1000 euros of free transactions for becoming or recommending a client...
they are lying to you... tell them you will get a laywer if they dont move it...... and scare them.. Arsc is SEC registered and those shares can be moved anywhere....
talk directly to the manager and aay you will take legal action... i bet the next day the shares are moved...
They gave you wrong information and you don,t have to accept that. ARSC is DTC eligible, means can be transferred to any place. Your new broker just will have to tell them with which participant they want to have the shares. This is done electronically.(Maybe they are short, other than that, there is no explanation for such a reply.)
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