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Posted On: 04/09/2018 7:25:55 PM
Post# of 72443
Again using the post you linked, the shares don’t have to be in certificate forms. They can all be done electronically.
Quote:
He told me that the "name change" and the "CUSIP # change" starts with the company's Transfer Agent (TA) coordinating electronically with the CUSIP Service Bureau by linking the company's name and address. Then the CUSIP Service Bureau Coordinates with the Depository Trust Company (DTC).
The DTC will serve as the overseer to coordinate with the regulatory authorities and/or agencies whomever as deemed necessary. Sometimes the TA will coordinate with the DTC too for certain confirmations or transactions as deemed necessary. The DTC makes sure there is proper share accountability for proper dissemination into our brokerage accounts. This is all done electronically.
After accountability is confirmed by the DTC, the DTC then authorizes the brokerage companies to change all old CUSIP numbers to the new CUSIP numbers electronically within our brokerage accounts.
Because of the name change, it's important because it forces the DTC to play a more finite role by not only accounting for the old shares to equal the new shares electronically, but forces them to match a "new inventory" of shares that have been given to them from the CUSIP Service Bureau as the new official/approved inventory by way of the shares given from the company/TA.
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