Quote:...they MUST credit you with the shares if you buy at the ask. They then need to ensure that they have those shares on their books. If they don't, then they will need to obtain them...at whatever the current price is.
Maybe there should be a rule that every SHAREHOLDER MUST SELL above the ASK....HAHAHAHA
Just having some fun to help the time go by!
And Why is JS deleting your post Jesep?
Im going to restore it...that is some bullshit...its not off topic. JS didnt like that you were telling the truth.
Quote:Removed By: janice shell Reason: Off-Topic | Send PM To jseps0036 Previous | Next
Posted by: jseps0036
In reply to: janice shell who wrote msg# 51354 Date:8/31/2021 5:50:21 PM
Post #51356 of 51356
Oh you again.
Except when a shareholder requests certificates, the broker MUST provide them (usually for a fee), but it is not uncommon for the broker to not even have them in their inventory and then need to actually acquire the stock at market price. The "easier and better" ways you are referring to are the practices of letting customers buy and sell shares electronically, but HOPING that those customers never actually try to claim ownership of those shares via stock certificates.
And if there is an inventory check, it would be no different than a certificate check. The TA and lawyers will want to know that a broker that credited 500K of shares to a client actually has those shares on their books. As I've stated before, the majority of brokers will NOT hold their own inventory of shares for OTC tickers, but they MUST credit you with the shares if you buy at the ask. They then need to ensure that they have those shares on their books. If they don't, then they will need to obtain them...at whatever the current price is. They are HOPING that clients sell the same amount of shares that they bought before they might be asked to actually deliver because then their books are cleared.
$13
$CRGP
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"The Preamble
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America."
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Quote:If the broker-dealer fails to deliver for 13 days, the regulation imposes a “close out” duty to purchase and deliver securities “of like kind and quantity.”
https://www.bloomberg.com/opinion/articles/20...ify%20wall
https://www.scotusblog.com/case-files/cases/m...v-manning/
