Non-Restricted
or Free Trading Securities
Are there any fees associated
with clearing a free trading security?
Yes. There are muliple fees associated with clearing any
physical certificate. The clearing firm charges an intitial
certificate deposit fee of $75. If there are multiple
certificates deposited at the same time, then only one deposit fee is
charged. The Transfer Agent and DTC also have their own fees
for transfer.
How long does it take to clear
shares from a physical certificate and have them available for sale?
After the clearing firm delivers the shares out for transfer, you will
be waiting at a minimum 7-10 business days before the shares are
available for sale.
I want to deposit some free trading
certificates issued to me? What is the next step?
You will first need to
make contact with a broker here and discuss the details of your
transaction. The broker will have you complete an Equity
Deposit Questionnaire or the Quick Facts Questionnaire. You will
need to send in a copy of your certificate front and back. See
Guidelines for Depositing OTC Securities. Once our compliance
department has approved your transaction you can then open an account,
or if you have one already open, you can proceed to send in the
certificate.
You may also be interested in:
