Sorry, nope. FINRA, SEC, and DTCC don't work with
Post# of 11039
Posted On: 05/14/2016 8:18:51 PM
Sorry, nope. FINRA, SEC, and DTCC don't work with Record Dates for payments, they work with Ex-Dates. And it is not what the company defines, it's what FINRA declares according to the market rules.
Even with a Standard Divy the investors who get it are the ones who had shares the day before the Ex-date, not on the Record Date. Example: The 3% of shares from CRGP were standard divy. Record date June 30. Ex-date is calculated T-2 working days, T-1 was Monday 29, T-2 was Friday 26. Ex-date is Friday 26 and the shareholders who received the divy were the ones who were invested end of trading day Thursday 25.
Also, CRGP said the cash divy was standard. But it is not what they say, it's the market rules. Because of the percent amount it qualified as a Special divy and was handled as a Spacial divy by FINRA and DTCC.
With the Spacial Divy, the rule changes and there's a long justification for this related to margins, time, account adjustments, etc.. Ex-date is the day after payment. CRGP said they paid Aug 17, FINRA declared Ex-Date Aug 19. One missing day. The explanation is CRGP's payment didn't clear until Aug 18. FINRA used Aug 18 as the day of payment and Ex-date became Aug 19. DTCC executed, any people with CRGP shares by end of trading day Aug 18 got the divy.
Which shares? All the shares in the market. There's no distinction and no way to differentiate between old and new shares; between COR, Alpine, or CRGP shares, between real, short, or air shares. Anything in the market on Aug 18 had to be paid a divy.
The famous due bills, that they were attached, that they were not attached, that it was a Signature mistake, or CRGP mistake, or Nobilis mistake. All that is just nonsense. The share is the share and it has nothing attached. If a sale is performed previous to the payment of the divy, then at that moment, a due bill is created in the account of the seller of those old or new shares. When they sell the shares, they are also surrendering their right to the divy. New shares dumped into the market were divy eligible. Due bills indicated they were sold by COR.
Even with a Standard Divy the investors who get it are the ones who had shares the day before the Ex-date, not on the Record Date. Example: The 3% of shares from CRGP were standard divy. Record date June 30. Ex-date is calculated T-2 working days, T-1 was Monday 29, T-2 was Friday 26. Ex-date is Friday 26 and the shareholders who received the divy were the ones who were invested end of trading day Thursday 25.
Also, CRGP said the cash divy was standard. But it is not what they say, it's the market rules. Because of the percent amount it qualified as a Special divy and was handled as a Spacial divy by FINRA and DTCC.
With the Spacial Divy, the rule changes and there's a long justification for this related to margins, time, account adjustments, etc.. Ex-date is the day after payment. CRGP said they paid Aug 17, FINRA declared Ex-Date Aug 19. One missing day. The explanation is CRGP's payment didn't clear until Aug 18. FINRA used Aug 18 as the day of payment and Ex-date became Aug 19. DTCC executed, any people with CRGP shares by end of trading day Aug 18 got the divy.
Which shares? All the shares in the market. There's no distinction and no way to differentiate between old and new shares; between COR, Alpine, or CRGP shares, between real, short, or air shares. Anything in the market on Aug 18 had to be paid a divy.
The famous due bills, that they were attached, that they were not attached, that it was a Signature mistake, or CRGP mistake, or Nobilis mistake. All that is just nonsense. The share is the share and it has nothing attached. If a sale is performed previous to the payment of the divy, then at that moment, a due bill is created in the account of the seller of those old or new shares. When they sell the shares, they are also surrendering their right to the divy. New shares dumped into the market were divy eligible. Due bills indicated they were sold by COR.
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IMHO
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.