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Trying to deposit your stock but you can’t find a Brokerage Firm to accept your certificate
Posted on 2/28/2012 @ 1:28 PM
Depositing stock certificates has become somewhat of a challenge these days. It isn’t like going to a bank and depositing your check from your job if you make minimum wage. No these days if your stock isn’t trading on an exchange that a brokerage firm deems reliable they simply won’t take your certificate for deposit.
Where does that leave you? Maybe you bought shares in a company that has been de-listed off of an exchange where the share price use to be what some broker dealers may claim respectable.But really what do you care you have shares in a stock and you want to be able to do what you want with them when you want but it isn’t so easy anymore.
With broker dealers taking more of a hands off approach to accepting stock certificates in low price stocks that may trade on the OTCBB or Pink Sheets these companies are often pushed to the side making it difficult to locate a firm that will accept your certificates and eventually get them cleared for you through their clearing firm.
Seems that only a few