In case you missed it. Etrade lost 60% of it’s market cap today due to subprime.

[4plexowner]

g2006 – as long as you withdraw before they declare bankruptcy you will be OK

feeling lucky?

[4plexowner]

g2006 – as long as you withdraw before they declare bankruptcy you will be OK

feeling lucky?

[4plexowner]

“SIPC can only perform as long as only a few call upon it,and then only up to $100,000. SIPC will in my opinion be looking for a rescue, which it will get paying you in some form of non transferable paper maturing in 3 to 5 years when the financial community all falls down.”

This ‘non transferable paper’ is what I was referring to as a ‘chit’ or ‘voucher’

If you wanted access to the money prior to maturity you would only get a portion of your money – 70 cents on the dollar? who knows …

[4plexowner]

“SIPC can only perform as long as only a few call upon it,and then only up to $100,000. SIPC will in my opinion be looking for a rescue, which it will get paying you in some form of non transferable paper maturing in 3 to 5 years when the financial community all falls down.”

This ‘non transferable paper’ is what I was referring to as a ‘chit’ or ‘voucher’

If you wanted access to the money prior to maturity you would only get a portion of your money – 70 cents on the dollar? who knows …

[4plexowner]

“SIPC can only perform as long as only a few call upon it,and then only up to $100,000. SIPC will in my opinion be looking for a rescue, which it will get paying you in some form of non transferable paper maturing in 3 to 5 years when the financial community all falls down.”

This ‘non transferable paper’ is what I was referring to as a ‘chit’ or ‘voucher’

If you wanted access to the money prior to maturity you would only get a portion of your money – 70 cents on the dollar? who knows …

[4plexowner]

“SIPC can only perform as long as only a few call upon it,and then only up to $100,000. SIPC will in my opinion be looking for a rescue, which it will get paying you in some form of non transferable paper maturing in 3 to 5 years when the financial community all falls down.”

This ‘non transferable paper’ is what I was referring to as a ‘chit’ or ‘voucher’

If you wanted access to the money prior to maturity you would only get a portion of your money – 70 cents on the dollar? who knows …

[Coronita]

http://www.sec.gov/investor/pubs/holdsec.htm

 

Holding Your Securities—
Get the Facts

As an individual investor, you have up to three choices when it comes to holding your securities:

	Physical Certificate — The security is registered in your name on the issuer's books, and you receive an actual, hard copy stock or bond certificate representing your ownership of the security.
	"Street Name" Registration — The security is registered in the name of your brokerage firm on the issuer's books, and your brokerage firm holds the security for you in "book-entry" form. "Book-entry" simply means that you do not receive a certificate. Instead, your broker keeps a record in its books that you own that particular security.
	"Direct" Registration — The security is registered in your name on the issuer's books, and either the company or its transfer agent holds the security for you in book-entry form. The "Direct Registration System" (also known as "DRS") allows investors to transfer securities held this way. For more information about DRS, please see our Frequently Asked Questions below.

 

[Coronita]

http://www.sec.gov/investor/pubs/holdsec.htm

 

Holding Your Securities—
Get the Facts

As an individual investor, you have up to three choices when it comes to holding your securities:

	Physical Certificate — The security is registered in your name on the issuer's books, and you receive an actual, hard copy stock or bond certificate representing your ownership of the security.
	"Street Name" Registration — The security is registered in the name of your brokerage firm on the issuer's books, and your brokerage firm holds the security for you in "book-entry" form. "Book-entry" simply means that you do not receive a certificate. Instead, your broker keeps a record in its books that you own that particular security.
	"Direct" Registration — The security is registered in your name on the issuer's books, and either the company or its transfer agent holds the security for you in book-entry form. The "Direct Registration System" (also known as "DRS") allows investors to transfer securities held this way. For more information about DRS, please see our Frequently Asked Questions below.

 

[Coronita]

http://www.sec.gov/investor/pubs/holdsec.htm

 

Holding Your Securities—
Get the Facts

As an individual investor, you have up to three choices when it comes to holding your securities:

	Physical Certificate — The security is registered in your name on the issuer's books, and you receive an actual, hard copy stock or bond certificate representing your ownership of the security.
	"Street Name" Registration — The security is registered in the name of your brokerage firm on the issuer's books, and your brokerage firm holds the security for you in "book-entry" form. "Book-entry" simply means that you do not receive a certificate. Instead, your broker keeps a record in its books that you own that particular security.
	"Direct" Registration — The security is registered in your name on the issuer's books, and either the company or its transfer agent holds the security for you in book-entry form. The "Direct Registration System" (also known as "DRS") allows investors to transfer securities held this way. For more information about DRS, please see our Frequently Asked Questions below.

 

[Coronita]

http://www.sec.gov/investor/pubs/holdsec.htm

 

Holding Your Securities—
Get the Facts

As an individual investor, you have up to three choices when it comes to holding your securities:

	Physical Certificate — The security is registered in your name on the issuer's books, and you receive an actual, hard copy stock or bond certificate representing your ownership of the security.
	"Street Name" Registration — The security is registered in the name of your brokerage firm on the issuer's books, and your brokerage firm holds the security for you in "book-entry" form. "Book-entry" simply means that you do not receive a certificate. Instead, your broker keeps a record in its books that you own that particular security.
	"Direct" Registration — The security is registered in your name on the issuer's books, and either the company or its transfer agent holds the security for you in book-entry form. The "Direct Registration System" (also known as "DRS") allows investors to transfer securities held this way. For more information about DRS, please see our Frequently Asked Questions below.

 

[bsrsharma]

DTCing all me and my wife's stock from stock options, espp shares, private investments, etc into other brokerage accounts

 

FLU – Can you please explain this in some detail. I too may like to do this.

[bsrsharma]

DTCing all me and my wife's stock from stock options, espp shares, private investments, etc into other brokerage accounts

 

FLU – Can you please explain this in some detail. I too may like to do this.

[bsrsharma]

DTCing all me and my wife's stock from stock options, espp shares, private investments, etc into other brokerage accounts

 

FLU – Can you please explain this in some detail. I too may like to do this.

[bsrsharma]

DTCing all me and my wife's stock from stock options, espp shares, private investments, etc into other brokerage accounts

 

FLU – Can you please explain this in some detail. I too may like to do this.

[Coronita]

DTCing all me and my wife's stock from stock options, espp shares, private investments, etc into other brokerage accounts

 

FLU – Can you please explain this in some detail. I too may like to do this.

 

Simple.

 

1) I transferred (or in the process of transfering) all stock electronically to other brokerage firms I have. There are two types of transfer. One is called a DTC, the other is called an ACAT. On typically is charged using one or the other. Typically DTC is free, ACAT isn't. DTC is a request from the "FROM" brokerage and pushed to the "TO brokerage". As far as cash, I have a bank checking account linked to etrade, so I wired all cash held in money markets out to the savings.

2) I'm trying to get the other brokerage firm (schwab and ameritrade) to register the stock in my name. I believe brokerage firms usually don't register in your name, but street name. However, this might not happen.

 

3) #2 doesn't work, I'm going to ask my brokerage to send me the actually stock certificates for stock that I plan on holding for a long time.

 

4) There's nothing you can really do about stock options. Typically your company only designates 1 stock option administrator. But, it's not really an issue because the stock options aren't worth anything until you exercise, and the company you work for should have records of that.

5)ESPP shares are similar to normal stock, except for a handful of anal companies…. you can't move the shares out unless you terminate the company.. You can sell the shares and move money out, but not physically move the shares). The reason being is when you sell espp shares (ie shares purchased with an employee stock purchase plan which gave you a discount off the purchase price), part of the profits needs to be reported on W-2 as income and part is short or long term gains. To simplify paperwork, some companies put restrictions require you to trade in the designated brokerage firm so that the brokerage firm can adequetely report back to the company when you sell those shares so that your company can properly send you a w2. However, most companies don't do this..They basically let you do whatever you want, and you are responsible for reporting ESPP sold shares appropriately as income and/or cap gains. Last time i checked, companies like Qualcomm, Yahoo, Symantec don't have this issue. W2 reporting for ESPP transactions is all your responsibility, so there aren't restrictions on DTC or ACAT transfers.

 

6) Some stock are restricted stock (particular if you just ipoed or private equity stock). For that, call etrade for details. Fortunately, I found out that life restricted stock at Schwab and not etrade so I don't have that issue (yet).

 

[Author]

Posts