You know the 4-6 weeks time frame is just bullshit time to buy them MORE time to blow YOU off – so you don’t start asking the right questions?
The shares don’t exist and if they did it should settle before a 3-day window – however they have fraud at their front door that they are trying to not admit.
I bought shares back months ago and it took not even a full 24 hours to transfer. You’re being fed excuses. They’re not actually locating any shares as real shares that exist with institutions are not wanting to let go of them – so you’re being pushed aside for 4-6 weeks while they figure it out; [speculation] which is probably when the crash is scheduled [/speculation].
This is what needs to be brought to attention immediately – not to Reddit – but this is literally the ignition switch that brokerages are trying to hide right now – BY BLOWING YOU OFF WITH TIME FRAME WINDOWS!!
If they cannot furnish your shares then this becomes immediate securities fraud if the asset cannot be located / purchased from the remaining institution holders.
Do not give them more time to find it! Create noise; start demanding answers! It does not take weeks to make an electronic name change!
TD Canada is saying it’s now 15-25days and they assured me that they can locate the shares. Hmmmm ??
They just admitted that they do not own the security that you paid for. That is fraud.
Your security should already be settled in your account – but because you have beneficiary rights to it through a Wall Street broker – they can legally lend them out anyway and make more money off of your asset; whether you’re margin or cash account.
This is the fraud that is Wall Street. This is why DTCC is a competitor to Direct Registration of Shares (ComputerShare). For as long as you use Wall Street brokerage firms; you are consenting (without knowing) this fact – that your shares will be used (and abused) for naked shorting as they see fit – to enable (or disable) companies from existing as THEY see fit.
Wall Street and its brokerages are SILENT! They DO NOT want this knowledge getting out and known publicly.
Edit #2 : Funny how 4-6 weeks puts finalization of transfer just after final approval of the NSCC regulation permitting SHFs to use long stocks as collateral for margin call loans