this post was submitted on 16 Jul 2023
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DRS Your GME

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July 12, 2023 Investor Bulletin: Holding Your Securities on the SEC website: https://www.sec.gov/about/reports-publications/investor-publications/holding-your-securities-get-the-facts

Considerations for holding securities through direct registration include: Purchases made through the issuer (or its transfer agent) of securities you intend to hold in DRS are usually executed under the guidelines of an issuer’s stock purchase plan, which uses a broker-dealer to execute the orders. Thus, to hold in DRS once the securities are acquired, you would need to instruct the transfer agent to move the securities from the issuer plan to DRS.

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[–] [email protected] 19 points 1 year ago (1 children)

Major update to this page! I'd read the earlier version from March 2003 several times (archived link here).

Interesting that they would update this article from 20 years ago.

These pages are formatted pretty differently but most of the individual questions are the same.

Looking through, almost all sections are greatly expanded and provide more helpful information. They spent much more time talking about exactly what the 3 main types of holding are, from just twoish sentences each to whole paragraphs. The selling section is roughly the same, but the section on what DRS is has added a lot of detail and rephrased the question to make DRS sound more appealing or like an equally valid option.

The latter sections are also mostly unchanged. There are a few more sentences talking about benefits of street name near the end, and a new addendum involving crypto which of course was not on the OG.

[–] [email protected] 4 points 1 year ago

^^ this guy due diligences

[–] [email protected] 13 points 1 year ago (1 children)

Major props to @[email protected]! Just saw their comment in a superstonk post:

"This packet was written by DRS advocates (like myself) for Gary Gensler by request." https://www.whydrs.org/the-whydrs-information-packet

When normal, retail investors have to educate the head of the SEC about DRS... I dunno, Gary feigning ignorance about DRS months back in that one interview...

[–] [email protected] 7 points 1 year ago

So many layers to the corrupt system.

[–] [email protected] 9 points 1 year ago

I wish we could give awards in Lemmy. Information like this from the horse's mouth is essential.

[–] [email protected] 8 points 1 year ago

awesome! Sharing this with friends and family should help highlight DRS. The fact that it’s on sec.gov will help