2008.12.09 19:12 St. Louis: Gateway to the West
2008.05.29 19:17 Springfield, MO
2014.02.20 23:19 Where people just talk
2023.03.29 14:26 PhilipCMS Element79 (CSE: ELEM, OTC: ELMGF) Sitting Atop Tremendous Assets
![]() | submitted by PhilipCMS to marketpredictors [link] [comments] https://preview.redd.it/sko2lb6r8oqa1.png?width=972&format=png&auto=webp&s=3a9aea93e0a917da01e041aade27bd399bf219cb Imagine a machine that, upon inserting a quarter, out came a dollar. We’ve found a company building such a machine. Fellow Investors, Last time we found something this special, readers who acted quickly saw gains of over 500%.129 This time could be even bigger based on special circumstances at play. In this case, we’ve identified some of the most successful names in gold mining history and followed the trail to a junior upstart that has—without fanfare—quietly become one of the best plays available in the market today. In this article, we outline exactly why and back it up with our detailed research enclosed below. The most astounding element here, is the fact that this junior mining stock can be bought under $1.00/share right now—less than a single dollar per share of Element79 Gold (CSE:ELEM). We’ve seen comparable stocks in the space trade well over $5/share, sometimes over $8 or $9 per share. A review of recent Element79 Gold (CSE:ELEM) press releases and regulatory filings reveals a company sitting atop tremendous assets, focused on cash-flow, run by perhaps one of the most qualified teams imaginable. Here’s a list of key documents every investor should review to truly understand why Element79 Gold(CSE:ELEM) might quite possibly be the #1 purchase to make in today’s market environment. Quality of Management
Remember, last time we brought an opportunity like this to the attention of our readers, investors who completed their due diligence promptly saw the greatest return potential. Be the early bird. To profitable investing, ——————SPECIAL SITUATION REPORT—————— Top Reasons Why Element79 Gold Could Be The Next Big Winner From This Legendary Team 1. They’re Focused on Cash-Flow High-grade gold assets offers Element79 Gold (CSE:ELEM) the opportunity to harness new avenues for near-term cash-flow and take an accelerated path toward potentially operating multiple production-stage facilities. They’ve stated this gameplan directly in their press releases. 2. They’ve Got The Numbers Element79 Gold (CSE:ELEM) reported an Inferred Resource of over 3.7M ounces of gold equivalentat one property and has intersects of 174 g/t Ag over 9.14 meters at another. Recent sampling at Lucero returned up to 116.8 g/t Au Eq(78.7g/t Au and 2,856 g/t Ag). Numbers like this are extremely rare and indicate something truly special is here. 3. They’re Incredibly Undervalued Based on the current market, investors can gain upside exposure to Element79 Gold (CSE:ELEM) forbelow $1 per shareright now. Remember, this team has experience in steering former successes with a near identical share structure as Element79 Gold Corp. (CSE:ELEM) has today. Anyone can run the numbers and confirm the value here far exceeds the current price. 4. Insiders Have A Lot Of Skin In The Game The number of shares held closely by direct insiders at Element79 Gold Corp. (CSE:ELEM) speaks volumes to the situation here, with millions of shares directly and indirectly held by its board of directors and senior executive team.97 Given the facts laid out above, it’s no surprise why insiders are holding so much stock in Element79 Gold (CSE:ELEM). 5. Analysts Predict Gold Buyout Fever The very same companies circling Element79 Gold Corp. (CSE:ELEM) have a proven track record in taking over junior mining projects and bringing them into full production, often times acquiring projects and companies for hundreds of millions, and even billions of dollars. A growing list of buyouts from nearby majors:
6. Momentum Could Strike At Any Moment Pay close attention as drilling commences at Element79 Gold (CSE:ELEM), similar companies have returned +2,390% to early investors.102 Keep on reading to find out what company did this and why Element79 Gold Corp. (CSE:ELEM) is setting up in a similar fashion. Last time, investors who hesitated were chasing the company up the charts and with a very tightly held capital structure at only ~82M shares outstanding97, Element79 Gold Corp. (CSE:ELEM) is similarly primed for a powerful run in the event of a major catalyst being announced. Based on the track record of management and the public roadmap announced to date, we believe that catalyst could come sooner than later and investors may do well to consider positioning themselves ahead of time. Continue reading below for further details. Golden Opportunity The ‘Must-Own’ Company of The Year That’s why our #1 stock to own in 2023 is Element79 Gold Corp. (CSE:ELEM), a junior miner sitting atop one of the largest land packages in Nevada18 smack dab in the middle of the largest gold complex in the world.19 In today’s market, it’s more important than ever to have a firm foundation of solid research. That’s why when we conducted our due diligence… …and discovered senior management hailing from Barrick Gold, Eldorado Gold, and Skeena Resources… …including assets surrounded by some of the biggest gold mines in the world… …on the verge of near-term cash-flow and operating multiple production-stage facilities… …and yet trading at valuations a mere fraction of its neighbors… …we realized how big of a story we had uncovered with Element79 Gold (CSE:ELEM) and why it’s the perfect play in the new inflation age. Location, Location, Location Prime Locations in the World’s Top Mining Destinations Any single property can make an entire company’s legacy. Now consider Element79 Gold (CSE:ELEM), in the short time since its IPO, has already acquired a staggering 17+ properties in prime locations across the world’s top mining jurisdictions. Their newest Nevada asset includes 18,000 hectares—literally one of the largest land packages in Nevada,79 smack-dab in the middle of the gold region where Barrick and Newmont are operating a joint venture.106 ELEM’s properties stand out in the world’s #1 gold district. Perhaps more astounding is their Lucero mine which remains one of the highest-grade underground mines in Peru’s history at grades averaging 19.0 g/t Au Equivalent (“Au Eq”) (14.0 g/t gold and 373 g/t silver), and their Machacala Project which averaged production grades of 10.5 g/t Au Eq (6.0 g/t gold and 340 g/t silver). Recent sampling at Lucero returned up to 116.8 g/t Au Eq (78.7g/t Au and 2,856 g/t Ag), truly astounding numbers in today’s age. It’s hard to believe these properties are wrapped within a small unknown company trading at these current prices, but that’s the value of finding these situations before the crowd. One need look no further than the words of their CEO, stating in plain terms, “the acquisition of these high-grade Peruvian gold assets offers Element79 Gold (CSE:ELEM) the opportunity to harness new avenues for near-term cash-flow and take an accelerated path toward potentially operating multiple production-stage facilities,” commented James Tworek, President and CEO of Element79 Gold(CSE:ELEM). Unknown to most is that Peru has mining-friendly legislation that allows up to 350 tpd production. Once that target is achieved, targeted for the coming 12-24 months, additional production licenses can be obtained to expand production. Element79 Gold (CSE:ELEM) has stated that it intends to pursue the opportunities aggressively, and that could spell significant cash-flow for investors. Investors Win Big Drill Results Can Net Life-Changing Returns A few years ago, one of the most explosive stories in junior mining unfolded before our eyes,102 closing the trading day at just $0.72 on August 21st, 2018. The very next day, drill results were announced showing several stretches of high-grade gold82 and soon **that stock traded up to a high of $17.93.**102 Investors who bought early, before the drill results were announced, turned a modest $40,000 stock purchase into nearly a $1 million dollar windfall at its peak. Returns like that can be life-changing and it didn’t take a lifetime of saving, it was buying the right stock before the crowd. That’s why it’s important to subscribe to updates, this company is moving fast and our dedicated research team follows it closely. Subscribe to investor updates. The Midas Touch Element79 Gold (CSE:ELEM)’s Assets Within Nevada With 18,000 hectares—nearly 70 square miles—this is an unusually large land package for a junior miner sitting in a precious-metals hotspot among elephants like Newmont and Barrick. Here’s what’s most stunning: with tremendous assets and only 82 million shares outstanding,97 Element79 Gold (CSE:ELEM)’s current share price is a bargain compared to peers. Maverick Springs: Gold at Value Prices Element79 Gold (CSE:ELEM)’s latest acquisition, Maverick Springs, is located within the legendary Carlin Trend gold belt92, home of the famed Carlin Mine, the world’s second largest gold mine83 which reported a staggering **1.7 million ounces of gold production in 2020.**91 In fact, this highly-distinguished gold belt has produced over 90 million ounces of gold to date.90 At present gold prices, **that’s in excess of $150 TRILLION dollars worth pulled out of the area.**107 It’s clear as day, Element79 Gold’s claims are in the right place. In fact, just recently news was released revealing millions of gold equivalent ounces in the ground already. Read the full press release here for details. Battle Mountain: Upside, Upside, Upside The Battle Mountain portfolio includes 15 highly prospective properties just to the west, with several early-stage drill holes revealing promising intercepts and high-grade finds. The majority of the Battle Mountain Projects are located within the Battle Mountain Trend (see figure below), with several Projects in close proximity to world-renowned gold deposits including Nevada Gold’s Cortez Mine, the third largest gold mine in North America93 and the sixth largest in the world, which reported 2020 gold production at 799,000 ounces.91 The same belt of deposits also contains the recently discovered Goldrush complex that, as of 2016, carries measured and indicated resources of 25.2 million tonnes grading 10.6 g/t, representing**8.6 million ounces of gold in the ground.**94 The area is also home to SSR Mining Inc.’s Marigold Mine, which is expected to produce approximately 2.37 million ounces of gold between 2018 and 2028.95 ELEM’s projects highlighted in yellow stars within the legendary belt. The northernmost Projects in the Battle Mountain Portfolio, the Golconda and Clover Projects, lie just south of the Getchell Gold Belt, which bridges the northwestern ends of the Carlin and Battle Mountain Trends, and contains Nevada Gold’s Turquoise Ridge Mine, the third largest gold mine in the U.S. **with 537,000 oz of gold production reported in 2020.**91 The Brock and Stargo Projects are situated on the southern end of the Austin-Lovelock Trend, southwest of Eureka and northeast from Kinross Gold Corporation’s Round Mountain Mine, which placed as **the fourth largest gold mine in the U.S.**91 and, in November of 2018, poured its 15 millionth ounce of gold since beginning operations in 1978.96 The Fraser Institute just ranked this area as the top jurisdiction in the world for investment based on the Investment Attractiveness Index.55 The Buyout Scenario Major Players Seeking New Acquisitions Most major mining companies focus on their expertise, acquiring and bringing new mines online. They leave the exploration of high potential properties to the junior mining companies. That’s why Element79 Gold (CSE:ELEM)’s proximity to so many majors is such a unique opportunity. In fact, Barrick Gold has directly stated this in their 2020 annual report, *“The Carlin Trend remains a target rich environment. The 2019 program focused on merging massive datasets in support of geological modeling. Drilling was initiated to test highly ranked target concepts as well as establish a geological framework in priority areas lacking drill information. Looking forward, the Carlin Trend will become the most active exploration area in Barrick’s portfolio.“*117 On their own map, you can literally see Barrick and Newmont’s land holdings surrounding Element79 Gold (CSE:ELEM)’s Battle Mountain portfolio. M&A Hungry Neighbors With Deep Pockets
Element79 Gold (CSE:ELEM) will undoubtedly be watched closely by all those in the surrounding area and positive drill results could quickly drive Element79 Gold to the top of every major producer’s M&A wish-list. |
2023.03.29 14:24 PhilipCMS Element79 (CSE: ELEM, OTC: ELMGF) Sitting Atop Tremendous Assets
![]() | submitted by PhilipCMS to 10xPennyStocks [link] [comments] https://preview.redd.it/g8enyi2j8oqa1.png?width=972&format=png&auto=webp&s=551d0d8f4273f69eef55429b51805413ab32a698 Imagine a machine that, upon inserting a quarter, out came a dollar. We’ve found a company building such a machine. Fellow Investors, Last time we found something this special, readers who acted quickly saw gains of over 500%.129 This time could be even bigger based on special circumstances at play. In this case, we’ve identified some of the most successful names in gold mining history and followed the trail to a junior upstart that has—without fanfare—quietly become one of the best plays available in the market today. In this article, we outline exactly why and back it up with our detailed research enclosed below. The most astounding element here, is the fact that this junior mining stock can be bought under $1.00/share right now—less than a single dollar per share of Element79 Gold (CSE:ELEM). We’ve seen comparable stocks in the space trade well over $5/share, sometimes over $8 or $9 per share. A review of recent Element79 Gold (CSE:ELEM) press releases and regulatory filings reveals a company sitting atop tremendous assets, focused on cash-flow, run by perhaps one of the most qualified teams imaginable. Here’s a list of key documents every investor should review to truly understand why Element79 Gold(CSE:ELEM) might quite possibly be the #1 purchase to make in today’s market environment. Quality of Management
Remember, last time we brought an opportunity like this to the attention of our readers, investors who completed their due diligence promptly saw the greatest return potential. Be the early bird. To profitable investing, ——————SPECIAL SITUATION REPORT—————— Top Reasons Why Element79 Gold Could Be The Next Big Winner From This Legendary Team 1. They’re Focused on Cash-Flow High-grade gold assets offers Element79 Gold (CSE:ELEM) the opportunity to harness new avenues for near-term cash-flow and take an accelerated path toward potentially operating multiple production-stage facilities. They’ve stated this gameplan directly in their press releases. 2. They’ve Got The Numbers Element79 Gold (CSE:ELEM) reported an Inferred Resource of over 3.7M ounces of gold equivalentat one property and has intersects of 174 g/t Ag over 9.14 meters at another. Recent sampling at Lucero returned up to 116.8 g/t Au Eq(78.7g/t Au and 2,856 g/t Ag). Numbers like this are extremely rare and indicate something truly special is here. 3. They’re Incredibly Undervalued Based on the current market, investors can gain upside exposure to Element79 Gold (CSE:ELEM) forbelow $1 per shareright now. Remember, this team has experience in steering former successes with a near identical share structure as Element79 Gold Corp. (CSE:ELEM) has today. Anyone can run the numbers and confirm the value here far exceeds the current price. 4. Insiders Have A Lot Of Skin In The Game The number of shares held closely by direct insiders at Element79 Gold Corp. (CSE:ELEM) speaks volumes to the situation here, with millions of shares directly and indirectly held by its board of directors and senior executive team.97 Given the facts laid out above, it’s no surprise why insiders are holding so much stock in Element79 Gold (CSE:ELEM). 5. Analysts Predict Gold Buyout Fever The very same companies circling Element79 Gold Corp. (CSE:ELEM) have a proven track record in taking over junior mining projects and bringing them into full production, often times acquiring projects and companies for hundreds of millions, and even billions of dollars. A growing list of buyouts from nearby majors:
6. Momentum Could Strike At Any Moment Pay close attention as drilling commences at Element79 Gold (CSE:ELEM), similar companies have returned +2,390% to early investors.102 Keep on reading to find out what company did this and why Element79 Gold Corp. (CSE:ELEM) is setting up in a similar fashion. Last time, investors who hesitated were chasing the company up the charts and with a very tightly held capital structure at only ~82M shares outstanding97, Element79 Gold Corp. (CSE:ELEM) is similarly primed for a powerful run in the event of a major catalyst being announced. Based on the track record of management and the public roadmap announced to date, we believe that catalyst could come sooner than later and investors may do well to consider positioning themselves ahead of time. Continue reading below for further details. Golden Opportunity The ‘Must-Own’ Company of The Year That’s why our #1 stock to own in 2023 is Element79 Gold Corp. (CSE:ELEM), a junior miner sitting atop one of the largest land packages in Nevada18 smack dab in the middle of the largest gold complex in the world.19 In today’s market, it’s more important than ever to have a firm foundation of solid research. That’s why when we conducted our due diligence… …and discovered senior management hailing from Barrick Gold, Eldorado Gold, and Skeena Resources… …including assets surrounded by some of the biggest gold mines in the world… …on the verge of near-term cash-flow and operating multiple production-stage facilities… …and yet trading at valuations a mere fraction of its neighbors… …we realized how big of a story we had uncovered with Element79 Gold (CSE:ELEM) and why it’s the perfect play in the new inflation age. Location, Location, Location Prime Locations in the World’s Top Mining Destinations Any single property can make an entire company’s legacy. Now consider Element79 Gold (CSE:ELEM), in the short time since its IPO, has already acquired a staggering 17+ properties in prime locations across the world’s top mining jurisdictions. Their newest Nevada asset includes 18,000 hectares—literally one of the largest land packages in Nevada,79 smack-dab in the middle of the gold region where Barrick and Newmont are operating a joint venture.106 ELEM’s properties stand out in the world’s #1 gold district. Perhaps more astounding is their Lucero mine which remains one of the highest-grade underground mines in Peru’s history at grades averaging 19.0 g/t Au Equivalent (“Au Eq”) (14.0 g/t gold and 373 g/t silver), and their Machacala Project which averaged production grades of 10.5 g/t Au Eq (6.0 g/t gold and 340 g/t silver). Recent sampling at Lucero returned up to 116.8 g/t Au Eq (78.7g/t Au and 2,856 g/t Ag), truly astounding numbers in today’s age. It’s hard to believe these properties are wrapped within a small unknown company trading at these current prices, but that’s the value of finding these situations before the crowd. One need look no further than the words of their CEO, stating in plain terms, “the acquisition of these high-grade Peruvian gold assets offers Element79 Gold (CSE:ELEM) the opportunity to harness new avenues for near-term cash-flow and take an accelerated path toward potentially operating multiple production-stage facilities,” commented James Tworek, President and CEO of Element79 Gold(CSE:ELEM). Unknown to most is that Peru has mining-friendly legislation that allows up to 350 tpd production. Once that target is achieved, targeted for the coming 12-24 months, additional production licenses can be obtained to expand production. Element79 Gold (CSE:ELEM) has stated that it intends to pursue the opportunities aggressively, and that could spell significant cash-flow for investors. Investors Win Big Drill Results Can Net Life-Changing Returns A few years ago, one of the most explosive stories in junior mining unfolded before our eyes,102 closing the trading day at just $0.72 on August 21st, 2018. The very next day, drill results were announced showing several stretches of high-grade gold82 and soon **that stock traded up to a high of $17.93.**102 Investors who bought early, before the drill results were announced, turned a modest $40,000 stock purchase into nearly a $1 million dollar windfall at its peak. Returns like that can be life-changing and it didn’t take a lifetime of saving, it was buying the right stock before the crowd. That’s why it’s important to subscribe to updates, this company is moving fast and our dedicated research team follows it closely. Subscribe to investor updates. The Midas Touch Element79 Gold (CSE:ELEM)’s Assets Within Nevada With 18,000 hectares—nearly 70 square miles—this is an unusually large land package for a junior miner sitting in a precious-metals hotspot among elephants like Newmont and Barrick. Here’s what’s most stunning: with tremendous assets and only 82 million shares outstanding,97 Element79 Gold (CSE:ELEM)’s current share price is a bargain compared to peers. Maverick Springs: Gold at Value Prices Element79 Gold (CSE:ELEM)’s latest acquisition, Maverick Springs, is located within the legendary Carlin Trend gold belt92, home of the famed Carlin Mine, the world’s second largest gold mine83 which reported a staggering **1.7 million ounces of gold production in 2020.**91 In fact, this highly-distinguished gold belt has produced over 90 million ounces of gold to date.90 At present gold prices, **that’s in excess of $150 TRILLION dollars worth pulled out of the area.**107 It’s clear as day, Element79 Gold’s claims are in the right place. In fact, just recently news was released revealing millions of gold equivalent ounces in the ground already. Read the full press release here for details. Battle Mountain: Upside, Upside, Upside The Battle Mountain portfolio includes 15 highly prospective properties just to the west, with several early-stage drill holes revealing promising intercepts and high-grade finds. The majority of the Battle Mountain Projects are located within the Battle Mountain Trend (see figure below), with several Projects in close proximity to world-renowned gold deposits including Nevada Gold’s Cortez Mine, the third largest gold mine in North America93 and the sixth largest in the world, which reported 2020 gold production at 799,000 ounces.91 The same belt of deposits also contains the recently discovered Goldrush complex that, as of 2016, carries measured and indicated resources of 25.2 million tonnes grading 10.6 g/t, representing**8.6 million ounces of gold in the ground.**94 The area is also home to SSR Mining Inc.’s Marigold Mine, which is expected to produce approximately 2.37 million ounces of gold between 2018 and 2028.95 ELEM’s projects highlighted in yellow stars within the legendary belt. The northernmost Projects in the Battle Mountain Portfolio, the Golconda and Clover Projects, lie just south of the Getchell Gold Belt, which bridges the northwestern ends of the Carlin and Battle Mountain Trends, and contains Nevada Gold’s Turquoise Ridge Mine, the third largest gold mine in the U.S. **with 537,000 oz of gold production reported in 2020.**91 The Brock and Stargo Projects are situated on the southern end of the Austin-Lovelock Trend, southwest of Eureka and northeast from Kinross Gold Corporation’s Round Mountain Mine, which placed as **the fourth largest gold mine in the U.S.**91 and, in November of 2018, poured its 15 millionth ounce of gold since beginning operations in 1978.96 The Fraser Institute just ranked this area as the top jurisdiction in the world for investment based on the Investment Attractiveness Index.55 The Buyout Scenario Major Players Seeking New Acquisitions Most major mining companies focus on their expertise, acquiring and bringing new mines online. They leave the exploration of high potential properties to the junior mining companies. That’s why Element79 Gold (CSE:ELEM)’s proximity to so many majors is such a unique opportunity. In fact, Barrick Gold has directly stated this in their 2020 annual report, *“The Carlin Trend remains a target rich environment. The 2019 program focused on merging massive datasets in support of geological modeling. Drilling was initiated to test highly ranked target concepts as well as establish a geological framework in priority areas lacking drill information. Looking forward, the Carlin Trend will become the most active exploration area in Barrick’s portfolio.“*117 On their own map, you can literally see Barrick and Newmont’s land holdings surrounding Element79 Gold (CSE:ELEM)’s Battle Mountain portfolio. M&A Hungry Neighbors With Deep Pockets
Element79 Gold (CSE:ELEM) will undoubtedly be watched closely by all those in the surrounding area and positive drill results could quickly drive Element79 Gold to the top of every major producer’s M&A wish-list. |
2023.03.29 14:23 PhilipCMS Element79 (CSE: ELEM, OTC: ELMGF) Sitting Atop Tremendous Assets
2023.03.29 14:22 ourpseudonym As Interest Rates Rose, Banks Did a Balance-Sheet Switcheroo (Available For Sale -> Held To Maturity)
As the Federal Reserve’s interest-rate hikes sent bond prices plunging last year, some of the country’s largest banks used a simple accounting maneuver to help keep billions of dollars of losses from piling up on their books.
They declared that they intended to hold on to large portions of their money-losing bonds until they matured rather than selling them, and they then changed the bonds’ accounting labels accordingly. From then on, the bonds would be frozen in time, no matter how far their values fell in the market.
The Wall Street Journal identified six large U.S. banks including Charles Schwab Corp. SCHW -1.84%decrease; and PNC Financial Services Group Inc. PNC 1.47%increase; that together switched the classifications on more than $500 billion of their bond investments last year. For some banks, excluding the unrealized losses from their balance sheets allowed them to report robust levels of capital when in reality their assets were worth much less.
The collapse of Silicon Valley Bank has drawn fresh attention to a decades-old debate over the accounting rules. Current rules often let companies show vastly different values for the same assets, depending on what they claim they intend to do with them. In addition, the rules often let companies change their stated intentions midstream, which can have outsize impacts on how healthy their balance sheets look.
The six banks were able to flatter their balance sheets with a flick of the accounting ledger. Banks can hold assets as “available for sale,” which means they are valued using market prices. Another option is to call them “held to maturity,” meaning they won’t be sold. These bonds are held at the banks’ cost. The logic is that daily market prices aren’t relevant to assets that banks wouldn’t sell.
The banks’ held-to-maturity bonds had a combined $1.14 trillion balance-sheet value as of Dec. 31, up from $681 billion a year earlier. The increase was mainly due to the reclassifications.
The $1.14 trillion figure was $118 billion, or 12%, higher than the bonds’ fair-market values, disclosed in footnotes to the banks’ financial statements. The $118 billion was equivalent to 18% of the banks’ total equity, which is the difference between assets and liabilities.
A year earlier, the difference between the held-to-maturity bonds’ market value and balance-sheet value was negligible. Most of the securities were backed by the U.S. government. The amounts of the reclassifications were disclosed in the companies’ financial reports. The Journal found the six banks using data compiled by S&P Global.
The large gap between the stated values and actual values of banks’ assets has fueled growing concern about whether a significant portion of many banks’ capital is illusory. Capital is roughly synonymous with equity, and refers to the financial cushion a company has available to absorb future losses. Institutions including Charles Schwab changed the classifications of bond investments last year.Photo: Claudio Papapietro for The Wall Street Journal
The six banks’ reclassifications were part of an industrywide shift last year as bond prices fell. About 48% of securities held by U.S. banks were classified as held-to-maturity at the end of 2022, up from 34% a year earlier, according to Federal Deposit Insurance Corp. data. Unrealized losses on securities were $620 billion, of which $341 billion were on bonds dubbed held-to-maturity. The six banks’ unrealized losses on held-to-maturity securities accounted for 35% of the industry total.
The biggest such reclassification was by Charles Schwab, which is structured as a savings and loan holding company and regulated by the Fed. It transferred $188.6 billion of securities to the held-to-maturity category from available-for-sale. Schwab wasn’t labeling any of its bonds as held-to-maturity at the end of 2021.
PNC transferred $82.7 billion of bonds to held-to-maturity from available-for-sale. JPMorgan Chase JPM & Co. transferred $78.3 billion. Truist Financial Corp., TFC; Wells Fargo WFC & Co. and U.S. Bancorp USB; transferred $59.4 billion, $50.1 billion and $45.1 billion, respectively.
“This is an artificial accounting construct, not an economic measure of the value of the assets,” said Sandy Peters, head of financial reporting policy for the CFA Institute, which certifies chartered financial analysts. “The value of a bond doesn’t change based upon how management decides to classify it. It’s worth what it’s worth.”
Silicon Valley Bank’s parent, SVB Financial Group, didn’t reclassify any securities last year, and most of its bonds were labeled held-to-maturity from the get-go. That meant SVB had locked itself into a long-term bet that interest rates would stay low. The unrealized losses on those bonds at year-end were almost as large as SVB’s $16.3 billion of total equity. It couldn’t sell the bonds without booking losses and taking hits to capital.
By the end of last year, the fair-market value of Schwab’s held-to-maturity bonds was $14.1 billion less than their balance-sheet value. The unrealized losses were equivalent to 39% of Schwab’s total equity. The unrealized losses exceeded Schwab’s $6.2 billion of tangible common equity, which is a bare-bones capital metric that excludes preferred stock and intangible assets.
A Schwab spokeswoman pointed to a March 23 open letter by the company’s co-chairmen, Charles Schwab and Walt Bettinger. “Focusing attention on ‘unrealized losses’ in our held-to-maturity (HTM) portfolio is very misleading,” they said, adding that “there is a near-zero chance we’d need to sell any of our HTM portfolio before maturity.”
At Wells Fargo, unrealized losses on held-to-maturity securities were $41.5 billion, equivalent to 23% of total equity. At U.S. Bancorp, they were $10.9 billion, or 21% of total equity. At Truist, they were $9.9 billion, or 16% of total equity. The percentages at JPMorgan and PNC were 13% and 11%, respectively.
In their annual reports, most of the banks said they did the transfers to keep the fair-value changes out of their equity and capital metrics. In its annual report, PNC said it changed its intent for the securities “to reduce the impact of price volatility” on equity and capital. Truist said it made the transfers as the company “continues to execute upon its asset-liability management strategies.”
Wells Fargo said it made the transfers “to reposition the overall portfolio for capital management purposes.” JPMorgan cited “capital management purposes.”
Jeffrey Shelman, a U.S. Bancorp spokesman, said: “We are always making decisions to manage our balance sheet to ensure appropriate liquidity, balanced by the desire to mitigate the volatility that is associated with interest-rate movements.” Spokesmen for PNC, JPMorgan and Truist and a Wells Fargo spokeswoman declined to comment.
2023.03.29 14:22 Darkhoof The 10-K report states point-blank that the DTCC is MISREPORTING the number of shares it holds. This is big.
Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. As of March 22, 2023, there were 197,058 record holders of our Class A Common Stock. Excluding the approximately 228.7 million shares of our Class A Common Stock held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares), approximately 76.0 million shares of our Class A Common Stock were held by record holders as of March 22, 2023 (or approximately 25% of our outstanding shares).Lets compare this with previous DRS number statements as per the 10-Q forms in Gamestop's investor relations website:
As of October 29, 2022 and October 30, 2021 there were 7.3 million and 4.4 million, respectively, of unvested restricted stock and restricted stock units. As of October 29, 2022 and October 30, 2021 there were 311.6 million and 308.0 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of October 29, 2022, 71.8 million shares of our Class A common stock were directly registered with our transfer agent.Q2 2022
As of July 30, 2022 and July 31, 2021 there were 5.5 million and 3.6 million, respectively, of unvested restricted stock and restricted stock units. As of July 30, 2022 and July 31, 2021 there were 309.5 million and 306.0 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of July 30, 2022, 71.3 million shares of our Class A common stock were directly registered with our transfer agent.Q1 2022
As of April 30, 2022 and May 1, 2021 there were 1.4 million and 2.6 million, respectively, of unvested restricted stock and restricted stock units. As of April 30, 2022 and May 1, 2021 there were 77.3 million and 71.9 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of April 30, 2022, 12.7 million shares of our Class A common stock were directly registered with our transfer agent.The wording in the 10-K is very interesting. First, they provide us with a precise number of record holders: 197,058. Then, they provide us with the (claimed) approximate number of shares held by Cede & Co on behalf of the DTCC: 228.7M. Finally, the approximate number of shares held by record holders.
What is a registered shareholder? Registered shareholders, also known as "shareholders of record," are people or entities that hold shares directly in their own name on the company register. The issuer (or more usually its transfer agent, such as Computershare) keeps the records of ownership for the registered shareholders and provides services such as transferring shares, paying dividends, coordinating shareholder communications and more. Shares can be held in both electronic (book entry) through the Direct Registration System (DRS) or certificated form (when permitted by the issuer company).From previous DD we know this includes not only household investors with directly registered shares, but also insiders that hold them with the transfer agent.
My Question: Hi, I've been looking all over the place for an answer to this question and can't seem to find a definitive answer. When ETFs purchase shares, are they registered in their own name at the transfer agent, or does it go through Cede & Co like regular brokers? Also, is it the same for other institutions, such as pension funds, mutual funds, index funds, etc..? Thanks! SEC Answer: Dear ----: Thank you for contacting the U.S. Securities and Exchange Commission (SEC). You ask whether shares purchased by ETFs, pension funds, mutual funds, and index funds are registered in their own name at the transfer agent or if they go through Cede & Co. Mutual funds (including index funds) are not DTC-eligible (Depository Trust Company). They are purchased and redeemed (no secondary market) between brokers and mutual fund entities (technically transfer agents, often part of the fund organization, or a third-party processor). The National Securities Clearing Corporation (NSCC) has a platform called Fund/SERV and a related service called Networking that connect brokers placing and settling mutual fund orders with fund transfer agents.Cede & Co is the nominee name for the DTC but Mutual Funds are not DTC-eligible. What does this mean?
Cede & Co. Nominee name for The Depository Trust Company, a large clearing house that holds shares in its name for banks, brokers and institutions in order to expedite the sale and transfer of stock.https://www.lexology.com/library/detail.aspx?g=ad927cbb-3afa-4df2-820b-53c7e687b4f2
Companies that regularly engage with securities are likely to interact with the Depository Trust Company (DTC). The DTC is the world’s largest central securities depository. Based in New York City, the the company is responsible for electronic record-keeping of securities balances. It also acts as a clearinghouse for securities trade settlements. The Basics Founded in 1973, the DTC’s goal is to improve efficiencies and reduce risks in the securities market. Most banks and broker-dealers are DTC participants. The Depository Trust and Clearing Company (DTCC), a holding company, owns the DTC. The company manages book entry securities transfers. It also provides custody services for stock certificates. Book-entry refers to uncertificated securities. Users employ an electronic tracking system for purchasing, holding, and transferring book-entry securities. This contrasts with certificated securities, which have physical stock certificates associated with them. Most investors who use a broker hold securities in book-entry form. The two major U.S. stock exchanges, NYSE and NASDAQ, require all listed equity securities to be eligible for a direct registration system (DRS), an electronic book-entry system for recording securities ownership. Cede & Company is the main custodial nominee that the DTC designates to be the holder of record of the securities it manages that are in its custody. Cede & Co. is a specialized financial institution. Securities will be deposited with or on behalf of DTC and registered in the name of Cede & Co., as the nominee of the company.From the previous quarter where we know that 71.8 million shares were registered by household investors, we know that 32,875,174 are held by mutual funds according to computershared.net and Insiders hold at least 38,513,981. We can assume that some of the insiders hold them with the transfer agent, we just don't know who does. WE KNOW, PER THE SEC's OWN WORDS, THAT MUTUAL FUNDS SHARES AREN'T HELD BY THE DTC UNDER ITS CUSTODIAL NOMINEE CEDE & CO. THEY ARE NOT DTC-ELIGIBLE.
2023.03.29 14:21 Darkhoof The 10-K report states point-blank that the DTCC is MISREPORTING the number of shares it holds. This is big. This is the kill shot.
Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. As of March 22, 2023, there were 197,058 record holders of our Class A Common Stock. Excluding the approximately 228.7 million shares of our Class A Common Stock held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares), approximately 76.0 million shares of our Class A Common Stock were held by record holders as of March 22, 2023 (or approximately 25% of our outstanding shares).Lets compare this with previous DRS number statements as per the 10-Q forms in Gamestop's investor relations website:
As of October 29, 2022 and October 30, 2021 there were 7.3 million and 4.4 million, respectively, of unvested restricted stock and restricted stock units. As of October 29, 2022 and October 30, 2021 there were 311.6 million and 308.0 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of October 29, 2022, 71.8 million shares of our Class A common stock were directly registered with our transfer agent.Q2 2022
As of July 30, 2022 and July 31, 2021 there were 5.5 million and 3.6 million, respectively, of unvested restricted stock and restricted stock units. As of July 30, 2022 and July 31, 2021 there were 309.5 million and 306.0 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of July 30, 2022, 71.3 million shares of our Class A common stock were directly registered with our transfer agent.Q1 2022
As of April 30, 2022 and May 1, 2021 there were 1.4 million and 2.6 million, respectively, of unvested restricted stock and restricted stock units. As of April 30, 2022 and May 1, 2021 there were 77.3 million and 71.9 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of April 30, 2022, 12.7 million shares of our Class A common stock were directly registered with our transfer agent.The wording in the 10-K is very interesting. First, they provide us with a precise number of record holders: 197,058. Then, they provide us with the (claimed) approximate number of shares held by Cede & Co on behalf of the DTCC: 228.7M. Finally, the approximate number of shares held by record holders.
What is a registered shareholder? Registered shareholders, also known as "shareholders of record," are people or entities that hold shares directly in their own name on the company register. The issuer (or more usually its transfer agent, such as Computershare) keeps the records of ownership for the registered shareholders and provides services such as transferring shares, paying dividends, coordinating shareholder communications and more. Shares can be held in both electronic (book entry) through the Direct Registration System (DRS) or certificated form (when permitted by the issuer company).From previous DD we know this includes not only household investors with directly registered shares, but also insiders that hold them with the transfer agent.
My Question: Hi, I've been looking all over the place for an answer to this question and can't seem to find a definitive answer. When ETFs purchase shares, are they registered in their own name at the transfer agent, or does it go through Cede & Co like regular brokers? Also, is it the same for other institutions, such as pension funds, mutual funds, index funds, etc..? Thanks! SEC Answer: Dear ----: Thank you for contacting the U.S. Securities and Exchange Commission (SEC). You ask whether shares purchased by ETFs, pension funds, mutual funds, and index funds are registered in their own name at the transfer agent or if they go through Cede & Co. Mutual funds (including index funds) are not DTC-eligible (Depository Trust Company). They are purchased and redeemed (no secondary market) between brokers and mutual fund entities (technically transfer agents, often part of the fund organization, or a third-party processor). The National Securities Clearing Corporation (NSCC) has a platform called Fund/SERV and a related service called Networking that connect brokers placing and settling mutual fund orders with fund transfer agents.Cede & Co is the nominee name for the DTC but Mutual Funds are not DTC-eligible. What does this mean?
Cede & Co. Nominee name for The Depository Trust Company, a large clearing house that holds shares in its name for banks, brokers and institutions in order to expedite the sale and transfer of stock.https://www.lexology.com/library/detail.aspx?g=ad927cbb-3afa-4df2-820b-53c7e687b4f2
Companies that regularly engage with securities are likely to interact with the Depository Trust Company (DTC). The DTC is the world’s largest central securities depository. Based in New York City, the the company is responsible for electronic record-keeping of securities balances. It also acts as a clearinghouse for securities trade settlements. The Basics Founded in 1973, the DTC’s goal is to improve efficiencies and reduce risks in the securities market. Most banks and broker-dealers are DTC participants. The Depository Trust and Clearing Company (DTCC), a holding company, owns the DTC. The company manages book entry securities transfers. It also provides custody services for stock certificates. Book-entry refers to uncertificated securities. Users employ an electronic tracking system for purchasing, holding, and transferring book-entry securities. This contrasts with certificated securities, which have physical stock certificates associated with them. Most investors who use a broker hold securities in book-entry form. The two major U.S. stock exchanges, NYSE and NASDAQ, require all listed equity securities to be eligible for a direct registration system (DRS), an electronic book-entry system for recording securities ownership. Cede & Company is the main custodial nominee that the DTC designates to be the holder of record of the securities it manages that are in its custody. Cede & Co. is a specialized financial institution. Securities will be deposited with or on behalf of DTC and registered in the name of Cede & Co., as the nominee of the company.From the previous quarter where we know that 71.8 million shares were registered by household investors, we know that 32,875,174 are held by mutual funds according to computershared.net and Insiders hold at least 38,513,981. We can assume that some of the insiders hold them with the transfer agent, we just don't know who does. WE KNOW, PER THE SEC's OWN WORDS, THAT MUTUAL FUNDS SHARES AREN'T HELD BY THE DTC UNDER ITS CUSTODIAL NOMINEE CEDE & CO. THEY ARE NOT DTC-ELIGIBLE.
2023.03.29 14:18 Working_Ad_2918 WWYD?
2023.03.29 14:16 Darkhoof The 10-K report states point-blank that the DTCC is MISREPORTING the number of shares it holds. This is big. This is the kill shot.
Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. As of March 22, 2023, there were 197,058 record holders of our Class A Common Stock. Excluding the approximately 228.7 million shares of our Class A Common Stock held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares), approximately 76.0 million shares of our Class A Common Stock were held by record holders as of March 22, 2023 (or approximately 25% of our outstanding shares).Lets compare this with previous DRS number statements as per the 10-Q forms in Gamestop's investor relations website:
As of October 29, 2022 and October 30, 2021 there were 7.3 million and 4.4 million, respectively, of unvested restricted stock and restricted stock units. As of October 29, 2022 and October 30, 2021 there were 311.6 million and 308.0 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of October 29, 2022, 71.8 million shares of our Class A common stock were directly registered with our transfer agent.Q2 2022
As of July 30, 2022 and July 31, 2021 there were 5.5 million and 3.6 million, respectively, of unvested restricted stock and restricted stock units. As of July 30, 2022 and July 31, 2021 there were 309.5 million and 306.0 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of July 30, 2022, 71.3 million shares of our Class A common stock were directly registered with our transfer agent.Q1 2022
As of April 30, 2022 and May 1, 2021 there were 1.4 million and 2.6 million, respectively, of unvested restricted stock and restricted stock units. As of April 30, 2022 and May 1, 2021 there were 77.3 million and 71.9 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of April 30, 2022, 12.7 million shares of our Class A common stock were directly registered with our transfer agent.The wording in the 10-K is very interesting. First, they provide us with a precise number of record holders: 197,058. Then, they provide us with the (claimed) approximate number of shares held by Cede & Co on behalf of the DTCC: 228.7M. Finally, the approximate number of shares held by record holders.
What is a registered shareholder? Registered shareholders, also known as "shareholders of record," are people or entities that hold shares directly in their own name on the company register. The issuer (or more usually its transfer agent, such as Computershare) keeps the records of ownership for the registered shareholders and provides services such as transferring shares, paying dividends, coordinating shareholder communications and more. Shares can be held in both electronic (book entry) through the Direct Registration System (DRS) or certificated form (when permitted by the issuer company).From previous DD we know this includes not only household investors with directly registered shares, but also insiders that hold them with the transfer agent.
My Question: Hi, I've been looking all over the place for an answer to this question and can't seem to find a definitive answer. When ETFs purchase shares, are they registered in their own name at the transfer agent, or does it go through Cede & Co like regular brokers? Also, is it the same for other institutions, such as pension funds, mutual funds, index funds, etc..? Thanks! SEC Answer: Dear ----: Thank you for contacting the U.S. Securities and Exchange Commission (SEC). You ask whether shares purchased by ETFs, pension funds, mutual funds, and index funds are registered in their own name at the transfer agent or if they go through Cede & Co. Mutual funds (including index funds) are not DTC-eligible (Depository Trust Company). They are purchased and redeemed (no secondary market) between brokers and mutual fund entities (technically transfer agents, often part of the fund organization, or a third-party processor). The National Securities Clearing Corporation (NSCC) has a platform called Fund/SERV and a related service called Networking that connect brokers placing and settling mutual fund orders with fund transfer agents.Cede & Co is the nominee name for the DTC but Mutual Funds are not DTC-eligible. What does this mean?
Cede & Co. Nominee name for The Depository Trust Company, a large clearing house that holds shares in its name for banks, brokers and institutions in order to expedite the sale and transfer of stock.https://www.lexology.com/library/detail.aspx?g=ad927cbb-3afa-4df2-820b-53c7e687b4f2
Companies that regularly engage with securities are likely to interact with the Depository Trust Company (DTC). The DTC is the world’s largest central securities depository. Based in New York City, the the company is responsible for electronic record-keeping of securities balances. It also acts as a clearinghouse for securities trade settlements. The Basics Founded in 1973, the DTC’s goal is to improve efficiencies and reduce risks in the securities market. Most banks and broker-dealers are DTC participants. The Depository Trust and Clearing Company (DTCC), a holding company, owns the DTC. The company manages book entry securities transfers. It also provides custody services for stock certificates. Book-entry refers to uncertificated securities. Users employ an electronic tracking system for purchasing, holding, and transferring book-entry securities. This contrasts with certificated securities, which have physical stock certificates associated with them. Most investors who use a broker hold securities in book-entry form. The two major U.S. stock exchanges, NYSE and NASDAQ, require all listed equity securities to be eligible for a direct registration system (DRS), an electronic book-entry system for recording securities ownership. Cede & Company is the main custodial nominee that the DTC designates to be the holder of record of the securities it manages that are in its custody. Cede & Co. is a specialized financial institution. Securities will be deposited with or on behalf of DTC and registered in the name of Cede & Co., as the nominee of the company.From the previous quarter where we know that 71.8 million shares were registered by household investors, we know that 32,875,174 are held by mutual funds according to computershared.net and Insiders hold at least 38,513,981. We can assume that some of the insiders hold them with the transfer agent, we just don't know who does. WE KNOW, PER THE SEC's OWN WORDS, THAT MUTUAL FUNDS SHARES AREN'T HELD BY THE DTC UNDER ITS CUSTODIAL NOMINEE CEDE & CO. THEY ARE NOT DTC-ELIGIBLE.
2023.03.29 14:16 RKConsultants On March 29, 2023 SiO2 Medical Products, Inc. filed for chapter 11 protection in the District of Delaware (Case No. 23-10366). The Debtor reports Assets of $100M-$500M and Liabilities of $500M-$1B. The Petition states funds will be available to Unsecured Creditors.
![]() | submitted by RKConsultants to Ch11Bankruptcy [link] [comments] |
2023.03.29 14:15 StepwiseUndrape574 A few questions before buying a mod menu
2023.03.29 14:15 RSurvivorMods Survivor 44 Episode 5 Predictions
2023.03.29 14:14 moonshot_69 The 10-K report states point-blank that the DTCC is MISREPORTING the number of shares it holds. This is big. This is the kill shot.
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2023.03.29 14:11 Ravenjournal Mystical land of Ohio
2023.03.29 14:10 Mclosing-it Have you ever made a complaint about another employee?
2023.03.29 14:10 Square-Foundation-87 UEFN Crash bug (Randomly happening)
2023.03.29 14:08 qmo767gh Gwyneth Paltrow’s Daughter Said Mom in ‘State of Shock’ After Crash – Rolling Stone
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2023.03.29 14:08 qmo767gh Gwyneth Paltrow’s Daughter Said Mom in ‘State of Shock’ After Crash – Rolling Stone
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2023.03.29 14:08 HasonKenji Kizana Elimination Concept
2023.03.29 14:04 88Adison22 Update on my economic plan. What are the key infrastructure areas and public sectors I would focus on . Post #2
2023.03.29 14:04 Darkhoof The 10-K report states point-blank that the DTCC is MISREPORTING the number of shares it holds. This is big. This is the kill shot.
Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. As of March 22, 2023, there were 197,058 record holders of our Class A Common Stock. Excluding the approximately 228.7 million shares of our Class A Common Stock held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares), approximately 76.0 million shares of our Class A Common Stock were held by record holders as of March 22, 2023 (or approximately 25% of our outstanding shares).Lets compare this with previous DRS number statements as per the 10-Q forms in Gamestop's investor relations website:
As of October 29, 2022 and October 30, 2021 there were 7.3 million and 4.4 million, respectively, of unvested restricted stock and restricted stock units. As of October 29, 2022 and October 30, 2021 there were 311.6 million and 308.0 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of October 29, 2022, 71.8 million shares of our Class A common stock were directly registered with our transfer agent.Q2 2022
As of July 30, 2022 and July 31, 2021 there were 5.5 million and 3.6 million, respectively, of unvested restricted stock and restricted stock units. As of July 30, 2022 and July 31, 2021 there were 309.5 million and 306.0 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of July 30, 2022, 71.3 million shares of our Class A common stock were directly registered with our transfer agent.Q1 2022
As of April 30, 2022 and May 1, 2021 there were 1.4 million and 2.6 million, respectively, of unvested restricted stock and restricted stock units. As of April 30, 2022 and May 1, 2021 there were 77.3 million and 71.9 million, respectively, of shares of Class A common stock that are legally issued and outstanding or are unvested restricted share units that represent a right to one share of Class A Common Stock. As of April 30, 2022, 12.7 million shares of our Class A common stock were directly registered with our transfer agent.The wording in the 10-K is very interesting. First, they provide us with a precise number of record holders: 197,058. Then, they provide us with the (claimed) approximate number of shares held by Cede & Co on behalf of the DTCC: 228.7M. Finally, the approximate number of shares held by record holders.
What is a registered shareholder?From previous DD we know this includes not only household investors with directly registered shares, but also insiders that hold them with the transfer agent.
Registered shareholders, also known as "shareholders of record," are people or entities that hold shares directly in their own name on the company register. The issuer (or more usually its transfer agent, such as Computershare) keeps the records of ownership for the registered shareholders and provides services such as transferring shares, paying dividends, coordinating shareholder communications and more. Shares can be held in both electronic (book entry) through the Direct Registration System (DRS) or certificated form (when permitted by the issuer company).
My Question:Cede & Co is the nominee name for the DTC but Mutual Funds are not DTC-eligible. What does this mean?
Hi, I've been looking all over the place for an answer to this question and can't seem to find a definitive answer. When ETFs purchase shares, are they registered in their own name at the transfer agent, or does it go through Cede & Co like regular brokers? Also, is it the same for other institutions, such as pension funds, mutual funds, index funds, etc..? Thanks!
SEC Answer:
Dear ----:
Thank you for contacting the U.S. Securities and Exchange Commission (SEC).
You ask whether shares purchased by ETFs, pension funds, mutual funds, and index funds are registered in their own name at the transfer agent or if they go through Cede & Co.
Mutual funds (including index funds) are not DTC-eligible (Depository Trust Company). They are purchased and redeemed (no secondary market) between brokers and mutual fund entities (technically transfer agents, often part of the fund organization, or a third-party processor). The National Securities Clearing Corporation (NSCC) has a platform called Fund/SERV and a related service called Networking that connect brokers placing and settling mutual fund orders with fund transfer agents.
Cede & Co. Nominee name for The Depository Trust Company, a large clearing house that holds shares in its name for banks, brokers and institutions in order to expedite the sale and transfer of stock.https://www.lexology.com/library/detail.aspx?g=ad927cbb-3afa-4df2-820b-53c7e687b4f2
Companies that regularly engage with securities are likely to interact with the Depository Trust Company (DTC). The DTC is the world’s largest central securities depository. Based in New York City, the the company is responsible for electronic record-keeping of securities balances. It also acts as a clearinghouse for securities trade settlements.From the previous quarter where we know that 71.8 million shares were registered by household investors, we know that 32,875,174 are held by mutual funds according to computershared.net and Insiders hold at least 38,513,981. We can assume that some of the insiders hold them with the transfer agent, we just don't know who does. WE KNOW, PER THE SEC's OWN WORDS, THAT MUTUAL FUNDS SHARES AREN'T HELD BY THE DTC UNDER ITS CUSTODIAL NOMINEE CEDE & CO. THEY ARE NOT DTC-ELIGIBLE.
The Basics
Founded in 1973, the DTC’s goal is to improve efficiencies and reduce risks in the securities market. Most banks and broker-dealers are DTC participants. The Depository Trust and Clearing Company (DTCC), a holding company, owns the DTC.
The company manages book entry securities transfers. It also provides custody services for stock certificates. Book-entry refers to uncertificated securities. Users employ an electronic tracking system for purchasing, holding, and transferring book-entry securities. This contrasts with certificated securities, which have physical stock certificates associated with them. Most investors who use a broker hold securities in book-entry form. The two major U.S. stock exchanges, NYSE and NASDAQ, require all listed equity securities to be eligible for a direct registration system (DRS), an electronic book-entry system for recording securities ownership.
Cede & Company is the main custodial nominee that the DTC designates to be the holder of record of the securities it manages that are in its custody. Cede & Co. is a specialized financial institution. Securities will be deposited with or on behalf of DTC and registered in the name of Cede & Co., as the nominee of the company.
2023.03.29 14:03 cheatingpartnersseo How to Hire a Professional Private Investigator
![]() | Need to hire a professional private investigator? When you need to find out the truth quickly and accurately, hiring a qualified investigator can be the best solution. Learn more here. submitted by cheatingpartnersseo to u/cheatingpartnersseo [link] [comments] When you need to find out information fast, hiring a professional private investigator can be the best solution. Knowledgeable and experienced investigators can provide accurate information and help guide your decision-making process with the utmost discretion. Discover more about the fundamentals of private investigation and what to look for in a qualified investigator. private investigator Research Accreditation and Reputation. Before hiring an investigator it’s important to do your research. Not all investigators have the same experience and qualifications, so it pays to find a reputable professional with the necessary accreditation. Look for a private investigator who has up-to-date professional memberships and comprehensive training on investigative techniques. Additionally, check out customer reviews of the investigator or agency you’re considering in order to ensure they will offer quality services. Check References of the Private Investigator. Once you’ve narrowed down your list to a few potential private investigators, the next step is to check their references. Ask for a list of clients that have received similar services from the investigator you’re considering, and contact them for honest feedback about their experience. You should also request evidence of successful cases the investigator has handled in the past, such as police reports or court documents. By taking these steps you can ensure you will hire an ethical and experienced professional private investigator. Verify License, Insurance and Experience. Before you hire a private investigator, make sure they have the necessary licenses and insurance in your state. You should also verify they take the appropriate continuing education courses to maintain their license and stay up-to-date with industry best practices. Additionally, you may want to inquire about any special training or certification that proves their level of experience in the type of investigation services you need. Establish Fee Structure for Services Rendered. Before beginning any work, you and the private investigator should agree upon a fee structure up front. This should include an hourly rate, per diem expenses, and any other applicable fees such as travel expenses or technology costs if applicable. Some investigators may also have additional charges for services like authentication and authentication of court-admissible documents, so make sure all these details are sorted out early on. Set a Timeline and Define Clear Goals and Expectations. Before hiring a private investigator, it’s important to set clear expectations. Make sure you and the investigator both agree on a timeline for the investigation, as well as a clear list of goals and outcomes that you expect from the investigation. This helps ensure your expectations are met and that you get the most out of your hired investigator. |
2023.03.29 13:59 dreftzg [Daily News] Watches and Wonders Is Slowing Down; IWC Shows A Great Blue Ceramic Pilot; Grand Seiko Goes Pink Dial On Pink Gold and Patek Has A Different Grand Complication