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July 12, 2023 SEC Investor Bulletin: Holding Your Securities. When the SEC publicly states exactly what to do with stock purchase plan shares to make them DRS
(lemmy.whynotdrs.org)
July 12, 2023 Investor Bulletin: Holding Your Securities on the SEC website: https://www.sec.gov/about/reports-publications/investor-publications/holding-your-securities-get-the-facts
Considerations for holding securities through direct registration include: Purchases made through the issuer (or its transfer agent) of securities you intend to hold in DRS are usually executed under the guidelines of an issuer’s stock purchase plan, which uses a broker-dealer to execute the orders. Thus, to hold in DRS once the securities are acquired, you would need to instruct the transfer agent to move the securities from the issuer plan to DRS.
Major props to @[email protected]! Just saw their comment in a superstonk post:
"This packet was written by DRS advocates (like myself) for Gary Gensler by request." https://www.whydrs.org/the-whydrs-information-packet
When normal, retail investors have to educate the head of the SEC about DRS... I dunno, Gary feigning ignorance about DRS months back in that one interview...
So many layers to the corrupt system.