Securities Transfer between Accounts
How can the investor sell his securities through a broker if they were maintained by another one?
In such cases, the broker has to transfer the securities back to the Central Registry, then the other broker whom the investor wishes to deal with may transfer these securities from the Central Registry to an account maintained by him.
Can the investor transfer securities maintained in the account maintained by a broker to the Central Registry?
Yes, the investor can ask his broker to transfer securities maintained by him to the Central Registry account by requesting the broker to do so.
Why is it necessary to transfer securities between accounts?
Investors need to transfer securities from the SDC's central registry to an account maintained by a broker in order to sell their securities. The conditions that must be fulfilled to complete the transfer include the following:
- The investor status must be active.
- The account status must be active.
- The document status complete.
- The balance covers the transferred amount.
Can the broker access information regarding my position in the investor’s other accounts maintained in the Central Registry or with other brokers? Can they sell his securities based on that information?
No, the SDC's electronic system allows each broker to access information related to accounts maintained by him, therefore, brokers are not able to sell securities maintained in the Central Registry or by other brokers or obtain any information related.
