Does anyone here have them in their possession? Stellaconcepts posted a link attached to his "Diversification is Key" video essay...the link goes to one of David Morgan's 'partners' Tako DaSilva and his own "Bulletproof Shares" article in which he writes about a little known fact that you can by-pass stock brokers and Transfer agents (AND THEIR ASSOCIATED FEES) and buy stocks directly and take physical possesion of the stock certificates...thereby limiting the risk of brokerage house bankruptcy. For instance, in the case of MF Global, the cerificates held for customers become the property of the liquidators. By bypassing the brokers and taking physical possession of your certificates you avoid the risk of loosing your wealth if/when the broker goes bankrupt. Does anyone know how this is possible? DaSilva talks about the cheek of brokers charging fees, then goes and makes his essay a subscription deal (after it was formerly free ) [youtube]http://www.youtube.com/watch?v=vBXj8nM0s0A[/youtube]
When CHESS was brought in it replaced to issuing of stock cert's to stock holder's. http://en.wikipedia.org/wiki/Australian_Securities_Exchange Read the settlement paragraph and that will answer your question.
You can transfer shares without a broker. I've only done it with issuer sponsored shares, not broker issued, you just download a form from the register for the share in question and fill it in. edit These days the ATO will be notified of the transfer.
Thanks Lads, Seems you still need to have a relationship with a CHESS registered sponsor !? Certificates must still be a US thing.
Issuer sponsored aren't in the CHESS system but yes we don't have certificates any more. I still have a few old ones floating around but they aren't valid any more.
Just a quick update from the ASX CHESS Booklet http://www.nsxa.com.au/documents/chess/ASX CHESS Booklet.pdf page 3 says ... bummer!
That's not right. I've actually done a transfer without using a broker and just having the company's register do the transfer. The key word would be "trade" I guess. Really the ASX and broker just facilitates finding a buyer or seller. edit And puts some guaranty on the trade as well.
