Reposted because mods removed this for some reason.
TL;DR: US securities laws require that brokers give you the name of the person that they bought your shares from, and
They must give you the name of the broker that they bought your shares from, and
They must tell you the exchange that they bought your shares on, and
They must tell you if they acted as agent or principal (internalized trade, or not)
All you have to do is ask them! (email template below)
Find out once and for all if you own a GME IOU or a real share. It is important to find out before moon (or a RICO case against the criminals), so that brokers cannot simply unwind or delete your GME shares. Almost all Apes in any country can do this.
Caution: if you do this, your broker’s head might explode!
I have PublicFreakout worthy recordings of various managers, traders, and other reps at my broker when I probe their sensitive bits. Although doing this by phone is endlessly amusing, it is common sense not to piss your broker off too much before you deliver the death blow. For this reason, I have provided a template below. I am not a lawyer and this is definitely not legal or financial advice. Use anything in this post at your own risk.
Note: DRS is still the way.
US securities laws are well defined and have various safe guards in place to protect investors from securities counterfeiting and specifically allow Apes to get this counter party info for that reason. You will find some of these legal protections in
Most countries’ security regulators have a very similar set of rules for their markets. For example, trades on Canadian markets are regulated by IIROC and so you can demand most of this same info under IIROC Rule 3816 when you buy securities on Canadian markets.
All you need to do to get this info is to request it in writing.
Just modify the template below with your shitty broker’s name and your account info. Where it says “Ape”, change that to your name. Then email it to your shitty broker.
If they refuse just email the letter to their complaint resolution team and make an SEC complaint at the same time. Remember that brokers may be violating securities laws each and every time they refuse, so document everything and pass it on to the SEC and your own country’s security regulator. Make some noise you filthy Apes!
When client regulatory complaints on any topic surpass a threshold, the SEC is required to review the nature of the complaints and seek resolutions. Apes can easily bring this matter to Gary’s attention.
You may or may not want to request all of this info about your GME buys. Brokers are required to provide all the info, but the less you ask for the more difficult it is for them to justify refusing. Take out anything that you don’t care about. Conversely, you can usually also demand more info than this if you poke around on your trade confirmations and TOS and find something like this to add to the template:
Additionally, I request the name of the dealer and market for these transactions as prescribed under the “Important Information” section of my online trade confirmations from \[BROKER NAME\].
Here is a sample template for your copy pasta pleasure:
Attention: BROKER NAME
I am hereby making a written request for trade confirmation data, specifically in regard to the trades where BROKER NAME has purchased GME for me in my ACCOUNT TYPE – ACCOUNT NUMBER while acting as agent in those trades upon a US market. BROKER NAME has indicated in my online trade confirmation statements that they acted as agent in all of my GME purchases.
Specifically I am requesting that BROKER NAME, in regard to these GME purchases provide me with, at a minimum, the following information in writing within fifteen days as per BROKER NAME‘s regulatory obligations to me under US Code of Federal Regulations Title 17 § 240.10b-10 – Confirmation of transactions:
-The date and time of each transaction and the identity, price, and number of shares or units (or principal amount) of GME purchased.
-The name of the person from whom the GME security was purchased.
-The amount of any remuneration received or to be received by the broker from me in connection with the transaction unless remuneration paid by me was determined pursuant to written agreement with me, otherwise than on a transaction basis.
-A statement whether payment for order flow is received by the broker or dealer for transactions in such securities.
-The source and amount of any other remuneration received or to be received by the broker in connection with the transaction.
BROKER NAME has substantive regulatory obligations regarding fair dealing with clients. If BROKER NAME finds cause to reject my request, then I further request that BROKER NAME provide such statements rejecting my request to me in writing, within fifteen days, referencing the specific statutes, laws, and/or rules that BROKER NAME believes are sufficient to outweigh my rights as a customer of a regulated broker that is making trades on my behalf upon a regulated market. If, as a retail investor, I am misinformed about which specific regulatory authority or laws are governing the aforementioned transactions, then I will rely on BROKER NAME to act in good faith and provide me with a list of the regulatory entities and governing laws and/or rules whose protections I am entitled to.
Please confirm that you have received my written request and that it will be forwarded to the appropriate department or individual for resolution. Thank you in advance for your assistance in successfully resolving this matter.
TL;DR: DRS. ? ? ?
Not legal or financial advice. Do your own research and come to your own conclusions. Seek professional advice from qualified legal and financial experts. Be excellent to each other.
Please cross post this wherever you want.