I am just guessing but are we in this line of thought forgetting a small detail which would be of importance by way of the differentiation between settled shares and unsettled shares at the time of the placement of the 'global lock' by the DTCC (?).
I had a thought that perhaps it is the case that some 'owners' of SFIO shares are able to transfer because maybe they have settled shares (did not buy OR sell within a three days prior to the lock) whereas the 'owners' of newly purchased shares on perhaps the historic volume day on the 'fateful' Friday of which I spoke perhaps own shares of unknown origin and any 'accounts' in the ether of which will eventually 'fail to deliver' real (registered) shares to their 'clients' and because the 'owner' bought or sold any shares during the time of the placement of the trade/trade restriction, those shares were and are still unsettled and therefore subject to the 'restriction'.
I am just guessing but maybe it is possible for the brokerages to transfer all assets of an entire account because since the brokerage not using DTCC like Fidelity would be able to still apply the trade/trade for the SFIO security within that portfolio during the transfer time in which each security actually for a time is owned by the brokerage/bank and then filed under your name (once the transfer is complete). Im not sure if the brokerages can buy each others liens out like that (account by account), but I imagine it could be possible which would somewhat explain the nature of what we have seen happen so far with a few owners of SFIO shares here and their experiences.
If any can do DD to find such details on SEC or other laws/etc Im sure the board would love to partake.
cheers
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