Good morning all,
Hopefully today will be the continuation of the uptrend for AUM.
I was wondering if anyone has gone trought he process of registering shares in their name through TD Waterhouse. I was sent the email below when I inquired and don't know if the Direct Registration Service (DRS) they mention could be nefarious or not. ANy comments would be appreciated.
Have a good day.
Dear X,
Thank you for your e-mail.
TD Waterhouse Discount Brokerage no longer issues share certificates for
U.S. securities and most Canadian securities. Certificate requests are now
held through the Direct Registration Service (DRS). The DRS allows the
beneficial owner to be registered directly on the books of the transfer
agent without the need of a physical certificate to evidence the security’s
ownership. While the beneficial owner will not receive a physical
certificate, he or she will receive a statement of ownership and periodic
(at least yearly) account statements. Dividend or interest payments, proxy
materials, annual reports, etc., will be mailed from the issuer or its
transfer agent directly to the beneficial owner. The cost for requesting
that the shares be sent to the DRS is $50.00 plus GST/HST per request.
Please note that one the shares have been moved to DRS, they will no longer
be held in your TD Waterhouse account and we will not have access to these
shares. As such, you will not be able to sell the shares through WebBroker.
To request that the shares be removed from your account and be sent to the
DRS, please contact a TD Waterhouse Investment Representative at
1-800-465-5463 or 416- 982-7686. We are available 24 hours a day, 7 days a
week, to assist you.
Regards,