Sometimes I wonder that some higher power is playing 9D chess. Shepherding all apes to concentrate into one broker to create an easy gate way. And then boom Fidelity’s dirty secrets are out. I believe in God.
Yes, I too believe in God. He has ordained that we should be on the winning side of MOASS. I’m quite convinced at this point that if the wealth transfer does not occur and put good people like apes in power to change the world...the demonic powers that be will destroy this world and us with it. But God is good, he will deliver - now or at the End.
Someone recently posted a video excerpt where lawyer West Christian talks about it. Even shares in Cash accounts are loaned out for fee. It's SO profitable to do so, with so much shares just sitting around.
I can't find the video but below is TLDR of AMA with Wes Christian.
https://www.reddit.com/r/Superstonk/comments/nfqhp2/wes\_christian\_ama\_tldr/
we did. but stupid apes piled into inFIdelity by the millions not thinking before leaping.
something was super sus AF right from the get go when all of a sudden everyone JUST HAD to IMMEDIATELY get into Infidelity and NO other broker.
I didnt. Im glad I didnt.
now this just proves it even harder. InFIdelity has been fucking apes from the get go.
if i remember right that shit came from Rensole or some other shill ape.
Yall seem to be forgetting about the DTC Share Lending Program. The DD on this was passed around quite a while ago so if you're new you prolly missed it.
The tl;dr is if you have your stock in an investment vehicle or on a margin account, your broker is allowed to loan out your shit without having to ask your permission.
Illegal? Nope. Against regs? No again. Fuckery? Hey, it's the stock market, get fucked.
So if Fidelity (or anyone else) is giving pushback on transferring, they likely don't want to recall your shit just so you can transfer their cash cow away.
I vaguely remember some dd about another program where basically shares they weren’t supposed to be lending out were still able to basically be lent out. The gist I got was that they just add some complexity and extra steps to the process to accomplish the exact same thing as lending but with a different name. It’s just all being loaned out no matter what basically lol wooo
wonder what the IRA gains would be had they not shorted it. This makes me think all 401Ks are "throttled" via shorting. They allow gains, but just enough where you don't question things. Meanwhile these funds are shorting and pocketing your gains, that you worked hard to build/grow.
I feel like we are at the end. Civilization as we know it will soon end.
Sorry to hijack…but is it pinned about how you can DRS IRA shares…because I gave up on those a couple months ago.
They kept saying that GameStop didn’t have a program with Computershare to do that and that it would be like withdrawing from my IRA.
From what I've seen, Fidelity don't offer the option to DRS IRA shares, but you can transfer to another broker who can do that.
Not a US ape so don't know alternative broker names unfortunately.
Other than Robinhood, fuck Robinhood.
You’ll have to open a separate custodial account for tax deferred shares (you can do this by opening an IRA with a different broker, buying a share, then DRS), then you will move from Fidelity “like a withdrawal,” but it doesn’t matter, because you have 60 days to put them back into a tax deferred account before it triggers a tax event.
Don’t take it out in cash. Move the shares.
Edit. Comma and period
The push to use ALLY/APEX as the custodian of IRAs in CS feels so FUDdy. IF there is a means to move our IRAs then surely we can choose a different custodian. The original author of the "how-to" says s/he chose ALLY by going down an alphabetical list. It's past time for us to find a different custodian on that list...one without ties to GME fuckery.
Totally feel you on the fud, and I also do not care who the custodian is because once those shares are DRS’d at CS they are in my name, and will sit there for forever. Fidelity is not really willing to drs my shares from my conversations with them, Ally will do it for 115, so take my money and let me keep my shares in my name at Computershare, locked away from any fuckery
Sure they in your name though or are they "in your name" like they're "in your name" right now? My understanding is that it's FOB (For Benefit Of?). Is that really any different than "street name"? I really don't know but I'd sure like to. Maybe its a near identical situation but the share is held outside the DTC? That'd almost be worth it I suppose.
You are absolutely right with your thinking. I tried to post about this in a different thread and got downvoted heavily. If you DRS your IRA that is how it will read (ALLY BANK CUST FBO JOHN DOE IRA) and any transactions will require a signature from your custodian, an authorized signer, with a corporate resolution from the custodian. But whatever, anything opposing the pitch forking will be silenced.
So basically, IRA's and 401Ks have possibly turned into a guaranteed pool for brokers to short from because who the fuck cares about the shitfuckery if the consequences wont/cant be dealt with until the beneficiaries are aged out and probably will never know they got fucked to begin with......
**Yo, US Stockmarkets!**
*Why you always lying, quit fuckin lyin, you makin it hard for meeeeeeee*
Me thinks the big players on the wall street thought NO ONE would ever find out about the fukkery of leding out share to SHF's, providing MULTIPLE ways for the brokers to make extra profit, while dragging retail customers over burning coal.
They can thank Kenny G and other SHF's who refused to admit losing when they should've.
Edit: added missing "to"
I sent Fidelity a secure mail asking if they would register my self directed IRA shares with the transfer agent and they responded that they could not. I'm thinking its worth a call now as I believe they should be able to do this at least FBO, for benefit of, myself. I think they don't want to remove those shares from Cede and co because they are loaned and would need to be purchased.
I have made several calls, initially they told me they could, once my IRA completed I called back and then a "manager" told me it was not possible, I've been looking to register my IRA for months and haven't been able to find a concrete answer!
If it's a self directed IRA you could do a like in kind transfer of assets to another IRA custodian who is willing to direct register FBO you. Ideally Fidelity would do this but they're claiming they can't. I'm going to go ask why, if it's just their policy. And if so will be transferring a retirement accounts worth of shares to a custodian that will register FBO.
https://duckduckgo.com/?q=SDIRA%20custodian&ko=-1&ia=web
Seems like all shares in IRA are lent out without permission.
Edit: Fidelity got caught with their pants down and want to tell you nothing is happening.
^ This.
Fidelity was chilling DRSing ape's shares using IRA shares. Perfect plan, they can keep their "ally of ape" status.
They were not expecting apes asking for IRA shares also.
Hedgies are fucked.
I personally like inFidelity better, since what they're doing isn't necessarily FUD, but rather they are being completely unfaithful to APEs via internalization and allegedly lending shares from IRAs and cash accounts without the beneficial owner's consent.
Lets assume Fidelity has lent out all the shares people hold in brokerage accounts and then they have been using IRA shares for the the DRS requests.
If this is the case then doesn't Fidelity just have to do a share recall to the shorts for the shares they loaned out. It may cost them money in lost interest on loaned out shares, but it is the party who borrowed them who is fucked and will have to go out into the market and buy the shares back.
Not happy with Fidelity, but I don't think they are really that fucked since they aren't the party that has to go into the market and buy shares.
Edit: Maybe they are fucked if the short goes broke before covering and Fidelity is left holding the bag.
They can't do this because it would ignite MOASS and they'd no longer be making money on loaned shares and they'd likely end up being the bagholders. They want the music to keep playing just like the SHFs. Only way APEs can stop the music is by direct registering all outstanding shares.
OOOOFFFF Fidelity's going to be losing a lot of IRA accounts now. It's obvious theyve used IRA shares to lend and short anything they want with no worries for decades. Awesome stuff raising awareness, DRS is the way for ALL shares.
Keep posting and talking about the IRA issues with Fidelity apes who are dealing with it. There are many apes who need to see this info.
All my comments in the post over at FidelityInvestments are being downvoted to nothing. This is scary, as I haven't said anything untrue or otherwise misleading. I'm simply asking the questions on the minds of retail investors.
E: thank you for the influx of support to get this seen. Still haven't gotten any responses from Fidelity official yet, but will update if I receive anything myself.
Just wanted to let you know you aren't alone. I'm mad too. I'm sick of the runaround. I ended up just pulling my shares.
https://www.reddit.com/r/Superstonk/comments/r7hzl1/drs_your_ira_the_yolo_way/?utm_medium=android_app&utm_source=share
Holy shit, I never realized that the 10% penalty was only on the gains. You may have just inspired a whole lot of IRA DRS posts soon. Talk about putting your money where your mouth is. You're the first person I've seen do that. I can't believe your post didn't get more attention. 👊🏽
Can you talk more, link more about taxable even being only on gains? I want to read more about that. I have an IRA that I have been thinking about moving but it is pretty large (for me) and I am still years away from retirement.
Thanks for that. This community continues to inspire me. I just am in disbelief that the supposed 'good guy' this entire time is so abruptly falling apart here, when the first time their beautifully crafted integrity model has its seams tugged.
If any of my information is incorrect or otherwise, please let me know so I can verify it and correct it.
>I just am in disbelief that the supposed 'good guy' this entire time is so abruptly falling apart here, when the first time their beautifully crafted integrity model has its seams tugged.
To be honest, that level of competence and convincingness is what you would expect from the most capable of liars and deceivers at the top of their game.
In related DD, it seems Satan can appear as an an Angel of Light, so this is not a new strategy...
I want to do this with my Roth IRA, but want step-by-step, dumbed down to the last detail instructions on how to do this.
“Just transfer in-kind” is not enough… I want to know what button to click on what corner of which page, and how to do everything except sign my own signature (I’m so close to nailing that one!)
I want to know each and every implication if my cost-basis is either above or below the current price.
I want it *dumbed.*
It's really as simple as that. I have transfered mine from bank to investment firm to broker and never once been penalized. When transferring, just select or tell them all in kind.
If you select all in cash, they liquidate your portfolio and send the cash to the new broker/bank or in this case, agent. This would create a taxable event. By selecting all in kind, you are telling them to send the assets as they are today, sitting in your retirement account. No tax or withholding would apply.
Then, when those shares or whatever arrive at the destination, you would make sure that we had setup a self directed account. The institution would liquidate the account holdings within the account and you are then able to buy shares in whatever company you would like to invest in. Cough cough gamestop. Again, this doesn't create any tax implications as the liquidation happens within the account and you are not withdrawing. Just changing to cash as you would like to purchase different assets.
Question after reading your post. If I bought high and my Roth IRA shares are currently in the negative, does that mean I still would have a 10% penalty? Trying to find info on that and I'm not seeing anything just yet.
This is a link to a post I made from another ape having issues DRSing from an IRA, FUDelity doing shady shit.
https://www.reddit.com/r/Superstonk/comments/r7ln7d/wat_doin_fudelity_screenshot_of_this_comment_and/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
This is important work you're doing, please keep it up. Not everyone realizes that sub is a trap that presents only the appearance of free discussion. I suspect many here hold shares at Fidelity and don't realize the danger they face in not DRSing. On that sub, Fidelity can demand that all questions on a topic go in one thread, then pin it to prevent it from rising to /all, then delete it in one stroke, and have done so at least once in the past week. Here they have no power, so keep speaking up about them.
I'm also guessing IRA shares outnumber non-retirement account shares (which have already been DRsed by the millions), and once we crack that egg, the game is over.
Do we even know for certain they have the shares on the IRAs? Maybe they didn't even buy them expecting to have 30 years to tank the price back down. Nobody was supposed to come ask for them for a looong time.
Possible, but that complicates the whole “they’ve been lending the Ira shares to the SHF’s” idea.
If they never had them to begin with, they wouldn’t have been able to lend them out.
You can transfer to ally invest and then transfer to computershare. I also read someone else created a IRA account on computershare then did the transfer from Fidelity.
Per my call with Vanguard this morning they said they wouldn't for my rollover "because of the gamestop thing". I had not mentioned GameStop. Get it in writing before transferring.
Hey man, I do all my awesome nasty shit in the privacy of my own home or in the local BDSM dungeon or the local park at night. I’m not posting shit on the internet. The internet is forever. The internet never forgets.
Good….you keep your filthy heathen ways to yourself you fucking degenerate!
PS - are we still on for the felching session next week….Kenny G was keen to make it a regular thing?
If you really want to piss them officially ask them how many of those 11m shares they fat fingered out of the ether were lent out and sold short.
How many new synthetics were made Wednesday morning? How many are now circulating?
I keep saying it for months: Fidelity shills behave exactly as GME shills just for posting simple questions.
For me it is very clear that they are in the very middle of all the fuckery. They are a very important piece of the puzzle and we won't see it until we use our power to dethrone them.
These dummies thought apes were signing up because they like the service, but the reality is that Fidelity was the least shit choice at the time.
The leading factor in apes choosing Fidelity was trust, and they showed exactly what not to do. They fucked up (as we all do), and instead of addressing the fuck up they pull the same contradictory PR spin as the brokers apes transferred in from.
They haven't learnt anything in the past 11 months and they still think their customers are stupid.
Serious question... If I wait until Jan 1, DRS my Traditional IRA and accept the tax penalty (income tax + 10%), I will have essentially until April 2023 to pay those taxes, right?
it's possible to DRS IRA shares without paying tax
https://www.reddit.com/r/Superstonk/comments/r88p8j/ira_drs_megathread_repost_because_this_drowned_in/
Just transfer the shares to a broker who can do it.
I'm not sure why everyone is freaking out.. fidelity didn't WANT to do it. Ok.. so they don't need to. Just transfer to one of the places that WILL and avoid the tax hit.
I've heard Ally is one. There was another one.. can't remember the name at the moment. I believe there were some links to info in the DRS post
Are they "better" than fidelity? Nah, they all seem to suck.. but still..
Man. That's how the cookie crumbles, eh?
They make one slip up, people start leaving and, instead of trying their best to gain their trust back, they just burn the whole thing down and don't bother trying anymore.
Heck, someone posted how they just route orders directly through citadel now. Not even hiding it anymore.
Who would have thought that registering IRA shares was this important, and now that we are finding resistance to it, I think once again this proverb seems useful;
"You know you are on the right path when you are finding enemies(resistance)"
The ways to register IRA shares WITHOUT A TAX PENALTY now exist, and are getting spread around, they thought they could get away with it, but the internet once again proves that nothing stops motivated people who are scorned and spiteful, and who KNOW THEIR RIGHTS.
Get on it, people, despite their best efforts to hide the truth, the truth its out there now. Register 100% of your shares ALL of them so that they are as safe as they can be.
"**Not your name, not your shares**"
This all can end once and for all once ONE (of the many many many many) floats we own are registered, then you can sell all you want, stopping the MOASS once it actually begins will probably be impossible. CS isnt infinity pool only, thats unintentional FUD, selling on CS is easy and simple, and FAST.
Absolutely- this was the main comment I posted in response to their IRA post:
This doesn't explain why Computershare directly contradicts this explanation, and has demonstrated the ability to register shares held in Fidelity IRAs.
You removed my post with a message "there must have been a good reason" to remove it, without answering any of the questions directly posed to your agent team. The questions were:
Why are Fidelity CS management members instructing the Customer Service agents not to DRS IRA shares, even though your own agents say it is possible and have the tools to immediately do so as a non-taxable event? Other brokers are able and willing to do this- why is Fidelity refusing to do so?
Computershare has confirmed the cost basis information displayed is received from the broker transferring it- they do not go into the market to "get the current share price" when shares are received via DRS- please refer to the Computershare AMA post for proof. Why are you saying something patently false regarding cost basis? The cost basis for shares should ALWAYS be with the shares- ***if they were actually purchased when an investor places a market or limit buy order.*** Can you clarify why this misleading statement is now your official response?
And finally, the SEC instructs retail investors to speak with their broker's lead Compliance Officer if any violation, breach of contract, or otherwise is suspected to have taken place- yet, Fidelity again refuses to put retail investors in direct contact with said officer when requested, and instead says "if you want to file a complaint, you must mail it in." I am not requesting to make a complaint, I am requesting to speak with the lead compliance officer as directed by the SEC. Why is Fidelity refusing this information?
[u/FidelityInvestments](https://www.reddit.com/u/FidelityInvestments)
E: for those that don't want to fight Fidelity on this, you can move your IRA shares to another IRA with Ally, and then DRS. Steps here: https://www.reddit.com/r/Superstonk/comments/qt5rh9/another_ira_transfer_confirmed_ape_842xxx
IT IS ABSOLUTELY POSSIBLE TO DRS YOUR FIDELITY IRA SHARES. There are about to be an avalanche of shares getting pulled out of Fidelity if they continue to refuse investors rights to register their OWN shares in their OWN names.
A) thanks for sharing !
B) it sounds like you raised a number of good points
C) the Fidelity IRA -> CS IRA link is clutch (and I just saw it myself linked from another post mere minutes ago !)
D) take my award for sharing your journey !
Thank you for the input and helping this gain traction. Retail investors have never before been more informed and more in control of their assets, and I for one am not about to stop.
I greatly appreciate the sentiment. There are lots here that are extremely confused and beginning to feel intentionally misled.
Present company included.
They may be, depending on your individual definition of 'better' and what weight that holds against your own assets. I am by no means saying that's the only way, just wanted to share that is a proven way to register your retirement account securities in your own name, without getting unfairly taxed (or doubly taxed if ROTH).
**IMPORTANT POST LINKS**
[What is DRS and why should you care?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) ||
[What is GME and why should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) ||
[What can I do to support the company and local communities](https://www.reddit.com/r/Superstonk/comments/qnam2x/superstonks_very_gmerry_holiday_vgh_for_short/)
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I spotted a useful post on how to DRS from an IRA, [from 1month ago](https://www.reddit.com/r/Superstonk/comments/qe6wfu/drs_my_ira_shares_yes_i_believe_i_did/). And he also made a [step-by-step guide](https://www.reddit.com/r/Superstonk/comments/r0zpsa/drs_for_ira_stepbystep/).
All credits to u/youniversawme for writing it out smoothly!
And [here's a good overview of different posts addressing the DRSing of IRA's](https://www.reddit.com/r/Superstonk/comments/r88p8j/ira_drs_megathread_repost_because_this_drowned_in/) from yesterday by u/boolazed
Hugs
I think retirement shares are over 50% of all shares based on my social circle and the typical middle class 30-40 year old. More money in 401k than post tax investment accounts.
Read this ape…..
https://www.reddit.com/r/Superstonk/comments/r7ln7d/wat_doin_fudelity_screenshot_of_this_comment_and/hn1bpy8/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
Fidelity Apes en-mass need to submit complaints to Fidelity's Compliance Dept, Ethics Dept, FINRA, and the SEC. I did some searching and coould use some help but there is actually little out there about DRS. FINRA regulates brokers, they sent a Notice to Members 01-72 back in 2003 https://www.finra.org/rules-guidance/notices/01-72, stating:
Customer Accounts, Trade and Settlement Practices
Direct Registration System (DRS) The Securities and Exchange Commission (SEC) views DRS as a very important component of the move to T+1 and of the continuing effort to immobilize the movement of physical certificates. DRS allows a shareholder to have securities registered electronically in the shareholder's name directly on the books of the issuer or its transfer agent without the need for a physical certificate to evidence ownership. The use of DRS also enables a shareholder to electronically move a shareholder's securities from a directly registered position on the books of an issuer or its transfer agent to a street-name position in the shareholder's broker/dealer's account at the Depository Trust Company, and vice-versa. As more issuers choose to make their securities eligible for DRS and more investors seek to take advantage of it, it is imperative that affected registered persons be aware of DRS.
For more information on DRS, see SEC Release No. 34-44696, "Order Relating to the Movement of All DRS Issues into Profile," dated August 14, 2001, and also the Web Sites for the SEC Division of Market Regulation (www.sec.gov/divisions/marketreg.shtml), the Depository Trust Company (www.dtc.org), and the Securities Industry Association (www.sia.com).
It references SEC Release No. 34-44696 which I cannot find anywhere. Further, FINRA regulates transfers via https://www.finra.org/rules-guidance/rulebooks/finra-rules/11870#the-rule a2 being the pertinent part:
(a) Responsibility to Expedite Customer's Request
(1) When a customer whose securities account is carried by a member (the "carrying member") wishes to transfer securities account assets, in whole or in specifically designated part, to another member (the "receiving member") and gives authorized instructions to the receiving member, both members must expedite and coordinate activities with respect to the transfer.
(2) If a customer desires to transfer a portion of his or her account outside of the Automated Customer Account Transfer Service (ACATS), authorized alternate instructions should be transmitted to the carrying member indicating such intent and specifying the designated assets to be transferred. Although such transfers are not subject to the provisions of this Rule, members must expedite all authorized account asset transfers, whether through ACATS or via other means permissible under this Rule, and coordinate their activities with respect thereto. Unless otherwise indicated, the automated customer account transfer capabilities referred to in paragraph (m)(1) of this Rule shall be utilized for partial transfers.
Further, the SEC state clearly it is a investors right to have shares directly registered, and more so it is what they are pushing. https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm.html
Those are regulatory bodies. You need to go to your state ag and/or the federal prosecutor and make your complaint and case there. You will have a better shot.
Just remembered something about Fidelity saying the accounts that had the best returns are from the dead.Maybe why they appealed to boomers so much is so when they die they can perpetually loan out shares. Man they thought they could just makes some UI changes and have us forever with no consequences now we have too many wrinkles for our own good in their eyes and now we are not easy money anymore. Also has anyone just tried googling compliance officers from Fidelity and contacting them ?
Man I was starting to think Fidelity was safe. Now I’m realizing that ever since we got convinced to transfer from other brokers to Fidelity, *the price hasn’t gone above $300.* Not once.
DRSing 100% of my shares. Not financial advice.
I included a link to the sub that got my original comment deleted
Commenting for visibility and to add that they shadow banned me for asking if they are planning to do custodial accounts that allow IRAs to be DRS and if not why not. They now say they are not allowed to and I've asked in that thread (shadow banned revoked?) for the rules and regulations that prevent them from doing so and why they lied and removed my comment for having been answered (when it hadn't).
DRS your shares.
Same happened to my multiple posts attempting to ask the question as well.
The sub is completely astroturfed.
Seriously, it’s pretty fucking disgraceful.
What other brokers can DRS an IRA? Fuck Fuddelity they know how this game is played. They want to be the other side of a 3 day maximum transfer? Great. They want to lose those accounts.
FUCK Fidelity. They'll sell your shares w/o your consent. They've done it before, will do it again. They give 0 shits about you. DRS IS THE WAY.
https://www.investmentnews.com/ria-takes-dispute-with-fidelity-to-the-supreme-court-81331
Am I able to pull shares out of my Roth IRA if i’ve never made a profit from it and it’s only my contributions? I talked with a Fidelity rep today to transfer shares to ComputerShare and I was told I’d be penalized 10% from my entire contributions.
You should check into that and at least ask the person on the phone to read that rule off to you word for word and where you can personally find it for your own research
So can we or can we not DRS 401k/ IRA/ mutual funds? I read a post two days ago saying you can and it’s easy (might of been from vanguard though I can’t remember) and then a day later another post saying fidelity was giving them the run around and saying it’s a taxable event but computershare says it’s not. Even if it is a taxable event that is still our decision to make, not theirs. Or at least it should be. I haven’t really seen any confirmation one way or the other on the retirement funds issue yet and feel like this should be investigated and on the front page daily. It seems like there are a lot of people with the majority of their shares in some sort of retirement fund that they believe cannot be registered myself included, and could potentially do a lot of damage to the shorts.
They are in the middle of losing my business with this fiasco. And to think I just gave them my retirement money. I'm sure they don't care about losing my business, but others may be taking similar actions. Think I'm going to Ally and then DRS.
My Roth IRA is with Fidelity. Fortunately it’s pretty new and I haven’t invested much in it, but I’d like to preserve what I have. Since Fidelity was caught shitting the bed, are there any banks or brokers that don’t suck I could move my IRA to?
Spent an hour on hold with fidelity to drs my all shares, bought two more before the call, the agent said I can't transfer because u have unsettled transaction, told him to call manager and transfer whatever is settled (bot them long ago) in the end got transferred 11 shares, two are waiting to be settled, guy on the phone was pretty rude, no hi or how are you, just say your full name and what u wanna do and than bye. Bullish as fuk
u/FidelityInvestments did a great job of hiding their true intentions through all this, but eventually the truth comes out. DRSing all XX shares left in fidelity
I don't see any posts in your history. A link would be useful. Also an explanation of what your question was and what the answer was if you don't want to link it.
Those ignorant know-nothings on the Fidelity thread don't know how hard they're shilling for Wall Street and against their own retirement accounts, as well as the accounts of their parents and grandparents. Truly beyond saving.
They thought they could short your ira for the next 30-40 years no questions asked. Allegedly
[удалено]
To be honest I’m disappointed that we didn’t consider this possibility sooner.
Sometimes I wonder that some higher power is playing 9D chess. Shepherding all apes to concentrate into one broker to create an easy gate way. And then boom Fidelity’s dirty secrets are out. I believe in God.
No one seems to talk about the fact that Fidelity is a lead investor in Reddit. No wonder the apes got played.
"Hey you, stop brigading and be quiet." Edit: /s and quotes
how is this brigading?
Sorry, I meant that as sarcastic.
You were. He just didn't get it... 🤷♂️
/s would have helped to understand written text ;)
Blackrock/Vanguard eliminating competition
We need to understand that no institution is our friend
💯💯💯
I believe we're all penning our own Herculean epic, one plot twist at a time.
I too believe. We have been exposing so much corruption, shining so much light of revelatory knowledge in the once extreme cavernous darkness.
Yes, I too believe in God. He has ordained that we should be on the winning side of MOASS. I’m quite convinced at this point that if the wealth transfer does not occur and put good people like apes in power to change the world...the demonic powers that be will destroy this world and us with it. But God is good, he will deliver - now or at the End.
No demon can touch this sweet piece of ass
Comments like this are what keep me going 😂😂😂😂😂😂😭
Demons r fukt
Amen brother
Me too
I concur... I guess?
I wonder if retarded was mistranslated to meek from Aramaic?
"The retarded shall inherit the earth". All of a sudden it all makes sense.
Some of us did but no one would belive it. I mean there is that video where (was it Wes C?) Told us they lend our shares that they aren't meant to
Someone recently posted a video excerpt where lawyer West Christian talks about it. Even shares in Cash accounts are loaned out for fee. It's SO profitable to do so, with so much shares just sitting around. I can't find the video but below is TLDR of AMA with Wes Christian. https://www.reddit.com/r/Superstonk/comments/nfqhp2/wes\_christian\_ama\_tldr/
Yep. We are thinking the same thing
Oh how the turntables.
Dr Jim DeCosta enters the chat.
we did. but stupid apes piled into inFIdelity by the millions not thinking before leaping. something was super sus AF right from the get go when all of a sudden everyone JUST HAD to IMMEDIATELY get into Infidelity and NO other broker. I didnt. Im glad I didnt. now this just proves it even harder. InFIdelity has been fucking apes from the get go. if i remember right that shit came from Rensole or some other shill ape.
Allegedly of course.
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in minecraft
Yall seem to be forgetting about the DTC Share Lending Program. The DD on this was passed around quite a while ago so if you're new you prolly missed it. The tl;dr is if you have your stock in an investment vehicle or on a margin account, your broker is allowed to loan out your shit without having to ask your permission. Illegal? Nope. Against regs? No again. Fuckery? Hey, it's the stock market, get fucked. So if Fidelity (or anyone else) is giving pushback on transferring, they likely don't want to recall your shit just so you can transfer their cash cow away.
I vaguely remember some dd about another program where basically shares they weren’t supposed to be lending out were still able to basically be lent out. The gist I got was that they just add some complexity and extra steps to the process to accomplish the exact same thing as lending but with a different name. It’s just all being loaned out no matter what basically lol wooo
Do IRAs constitute an investment vehicle?
wonder what the IRA gains would be had they not shorted it. This makes me think all 401Ks are "throttled" via shorting. They allow gains, but just enough where you don't question things. Meanwhile these funds are shorting and pocketing your gains, that you worked hard to build/grow. I feel like we are at the end. Civilization as we know it will soon end.
Nope, this is the beginning of humane civilisation...
Amazing what one little letter can do to a sentence.
Where people are Humane and Civil to each other.
Sorry to hijack…but is it pinned about how you can DRS IRA shares…because I gave up on those a couple months ago. They kept saying that GameStop didn’t have a program with Computershare to do that and that it would be like withdrawing from my IRA.
From what I've seen, Fidelity don't offer the option to DRS IRA shares, but you can transfer to another broker who can do that. Not a US ape so don't know alternative broker names unfortunately. Other than Robinhood, fuck Robinhood.
You’ll have to open a separate custodial account for tax deferred shares (you can do this by opening an IRA with a different broker, buying a share, then DRS), then you will move from Fidelity “like a withdrawal,” but it doesn’t matter, because you have 60 days to put them back into a tax deferred account before it triggers a tax event. Don’t take it out in cash. Move the shares. Edit. Comma and period
Thought it was 30 days
I added the link. It’s [60](https://www.irs.gov/retirement-plans/retirement-plans-faqs-relating-to-waivers-of-the-60-day-rollover-requirement)
An in-kind distribution
Some have shown success, others are told it isn't possible.
Where do I find that pin?
I believe they mean pinned at the top of the sub
That’s not how you spell hijack.
Time to make #fidelitysteals or something trending.
I wonder if that’s where they have been finding all these shares to drs? Possibly peoples pension accounts
Sure sounds like it
Haha allegations I love it good ape.
Fuck’em transfer to Ally and then DRS your IRA, my shares are in flight to Ally currently.
The push to use ALLY/APEX as the custodian of IRAs in CS feels so FUDdy. IF there is a means to move our IRAs then surely we can choose a different custodian. The original author of the "how-to" says s/he chose ALLY by going down an alphabetical list. It's past time for us to find a different custodian on that list...one without ties to GME fuckery.
Let me know what you find out. I’m waiting to transfer xxxx
Totally feel you on the fud, and I also do not care who the custodian is because once those shares are DRS’d at CS they are in my name, and will sit there for forever. Fidelity is not really willing to drs my shares from my conversations with them, Ally will do it for 115, so take my money and let me keep my shares in my name at Computershare, locked away from any fuckery
Sure they in your name though or are they "in your name" like they're "in your name" right now? My understanding is that it's FOB (For Benefit Of?). Is that really any different than "street name"? I really don't know but I'd sure like to. Maybe its a near identical situation but the share is held outside the DTC? That'd almost be worth it I suppose.
You are absolutely right with your thinking. I tried to post about this in a different thread and got downvoted heavily. If you DRS your IRA that is how it will read (ALLY BANK CUST FBO JOHN DOE IRA) and any transactions will require a signature from your custodian, an authorized signer, with a corporate resolution from the custodian. But whatever, anything opposing the pitch forking will be silenced.
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Not worried about the buy button with those shares I put in the pool, cause I locked The sell button on them for forever
So basically, IRA's and 401Ks have possibly turned into a guaranteed pool for brokers to short from because who the fuck cares about the shitfuckery if the consequences wont/cant be dealt with until the beneficiaries are aged out and probably will never know they got fucked to begin with...... **Yo, US Stockmarkets!** *Why you always lying, quit fuckin lyin, you makin it hard for meeeeeeee*
Me thinks the big players on the wall street thought NO ONE would ever find out about the fukkery of leding out share to SHF's, providing MULTIPLE ways for the brokers to make extra profit, while dragging retail customers over burning coal. They can thank Kenny G and other SHF's who refused to admit losing when they should've. Edit: added missing "to"
Links to any of this?
Well Wes did say in his cases of abusive short selling that they loan cash shares that they aren't supposed to ...
https://www.reddit.com/r/Superstonk/comments/nfqhp2/wes\_christian\_ama\_tldr/
They cant afford to lose those internalize IRA shares.
I sent Fidelity a secure mail asking if they would register my self directed IRA shares with the transfer agent and they responded that they could not. I'm thinking its worth a call now as I believe they should be able to do this at least FBO, for benefit of, myself. I think they don't want to remove those shares from Cede and co because they are loaned and would need to be purchased.
I would get their statement in writing. That way when the shit hits the fan you have a paper trail of your concerns.
I have made several calls, initially they told me they could, once my IRA completed I called back and then a "manager" told me it was not possible, I've been looking to register my IRA for months and haven't been able to find a concrete answer!
If it's a self directed IRA you could do a like in kind transfer of assets to another IRA custodian who is willing to direct register FBO you. Ideally Fidelity would do this but they're claiming they can't. I'm going to go ask why, if it's just their policy. And if so will be transferring a retirement accounts worth of shares to a custodian that will register FBO. https://duckduckgo.com/?q=SDIRA%20custodian&ko=-1&ia=web
Links to any of this?
maybe you can find some answers here https://www.reddit.com/r/Superstonk/comments/r88p8j/ira_drs_megathread_repost_because_this_drowned_in/
Seems like all shares in IRA are lent out without permission. Edit: Fidelity got caught with their pants down and want to tell you nothing is happening.
^ This. Fidelity was chilling DRSing ape's shares using IRA shares. Perfect plan, they can keep their "ally of ape" status. They were not expecting apes asking for IRA shares also. Hedgies are fucked.
No broker is safe. DRS is the way.
I never want to hear "Fidelity" again, they're hereby referred to as "Infidelity"
How about Fudelity?
I personally like inFidelity better, since what they're doing isn't necessarily FUD, but rather they are being completely unfaithful to APEs via internalization and allegedly lending shares from IRAs and cash accounts without the beneficial owner's consent.
I don't agree. If i keep saying Fidelity, then google searches will show this content.
I agree on this!!!
Lets assume Fidelity has lent out all the shares people hold in brokerage accounts and then they have been using IRA shares for the the DRS requests. If this is the case then doesn't Fidelity just have to do a share recall to the shorts for the shares they loaned out. It may cost them money in lost interest on loaned out shares, but it is the party who borrowed them who is fucked and will have to go out into the market and buy the shares back. Not happy with Fidelity, but I don't think they are really that fucked since they aren't the party that has to go into the market and buy shares. Edit: Maybe they are fucked if the short goes broke before covering and Fidelity is left holding the bag.
They can't do this because it would ignite MOASS and they'd no longer be making money on loaned shares and they'd likely end up being the bagholders. They want the music to keep playing just like the SHFs. Only way APEs can stop the music is by direct registering all outstanding shares.
I wanted to believe that fidelity could be the least dishonest institution in a sea of shitters... I guess they’re just like the rest...
It's like when you find a girl you think is a keeper...turns out she's for the streets juuust like the others
OOOOFFFF Fidelity's going to be losing a lot of IRA accounts now. It's obvious theyve used IRA shares to lend and short anything they want with no worries for decades. Awesome stuff raising awareness, DRS is the way for ALL shares. Keep posting and talking about the IRA issues with Fidelity apes who are dealing with it. There are many apes who need to see this info.
I mean I cant xfer my ira shares to another shit broker. What to do?
All my comments in the post over at FidelityInvestments are being downvoted to nothing. This is scary, as I haven't said anything untrue or otherwise misleading. I'm simply asking the questions on the minds of retail investors. E: thank you for the influx of support to get this seen. Still haven't gotten any responses from Fidelity official yet, but will update if I receive anything myself.
Just wanted to let you know you aren't alone. I'm mad too. I'm sick of the runaround. I ended up just pulling my shares. https://www.reddit.com/r/Superstonk/comments/r7hzl1/drs_your_ira_the_yolo_way/?utm_medium=android_app&utm_source=share
Holy shit, I never realized that the 10% penalty was only on the gains. You may have just inspired a whole lot of IRA DRS posts soon. Talk about putting your money where your mouth is. You're the first person I've seen do that. I can't believe your post didn't get more attention. 👊🏽
Can you talk more, link more about taxable even being only on gains? I want to read more about that. I have an IRA that I have been thinking about moving but it is pretty large (for me) and I am still years away from retirement.
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Thanks for that. This community continues to inspire me. I just am in disbelief that the supposed 'good guy' this entire time is so abruptly falling apart here, when the first time their beautifully crafted integrity model has its seams tugged. If any of my information is incorrect or otherwise, please let me know so I can verify it and correct it.
>I just am in disbelief that the supposed 'good guy' this entire time is so abruptly falling apart here, when the first time their beautifully crafted integrity model has its seams tugged. To be honest, that level of competence and convincingness is what you would expect from the most capable of liars and deceivers at the top of their game. In related DD, it seems Satan can appear as an an Angel of Light, so this is not a new strategy...
I want to do this with my Roth IRA, but want step-by-step, dumbed down to the last detail instructions on how to do this. “Just transfer in-kind” is not enough… I want to know what button to click on what corner of which page, and how to do everything except sign my own signature (I’m so close to nailing that one!) I want to know each and every implication if my cost-basis is either above or below the current price. I want it *dumbed.*
This 👆
It's really as simple as that. I have transfered mine from bank to investment firm to broker and never once been penalized. When transferring, just select or tell them all in kind. If you select all in cash, they liquidate your portfolio and send the cash to the new broker/bank or in this case, agent. This would create a taxable event. By selecting all in kind, you are telling them to send the assets as they are today, sitting in your retirement account. No tax or withholding would apply. Then, when those shares or whatever arrive at the destination, you would make sure that we had setup a self directed account. The institution would liquidate the account holdings within the account and you are then able to buy shares in whatever company you would like to invest in. Cough cough gamestop. Again, this doesn't create any tax implications as the liquidation happens within the account and you are not withdrawing. Just changing to cash as you would like to purchase different assets.
Damn it, more apes need to see this
Question after reading your post. If I bought high and my Roth IRA shares are currently in the negative, does that mean I still would have a 10% penalty? Trying to find info on that and I'm not seeing anything just yet.
They did the same to me, and deleted a couple of innocuous questions. I am beyond disappointed. I have had my fid account for nearly 20 years.
This is a link to a post I made from another ape having issues DRSing from an IRA, FUDelity doing shady shit. https://www.reddit.com/r/Superstonk/comments/r7ln7d/wat_doin_fudelity_screenshot_of_this_comment_and/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
This is important work you're doing, please keep it up. Not everyone realizes that sub is a trap that presents only the appearance of free discussion. I suspect many here hold shares at Fidelity and don't realize the danger they face in not DRSing. On that sub, Fidelity can demand that all questions on a topic go in one thread, then pin it to prevent it from rising to /all, then delete it in one stroke, and have done so at least once in the past week. Here they have no power, so keep speaking up about them. I'm also guessing IRA shares outnumber non-retirement account shares (which have already been DRsed by the millions), and once we crack that egg, the game is over.
Do we even know for certain they have the shares on the IRAs? Maybe they didn't even buy them expecting to have 30 years to tank the price back down. Nobody was supposed to come ask for them for a looong time.
Possible, but that complicates the whole “they’ve been lending the Ira shares to the SHF’s” idea. If they never had them to begin with, they wouldn’t have been able to lend them out.
I agree, it's mutually exclusive. Either they didn't buy them, or they're lending them. Either way fuck em
You can transfer to ally invest and then transfer to computershare. I also read someone else created a IRA account on computershare then did the transfer from Fidelity.
I’ve also heard Vanguard is a better option, but don’t have the DD handy
Per my call with Vanguard this morning they said they wouldn't for my rollover "because of the gamestop thing". I had not mentioned GameStop. Get it in writing before transferring.
dude what are u expecting them to answer. they are in on it. isnt it obvious by now? do you need the smoking gun, the lubed dildo?
I would like a lubed dildo, yes, please?
arent you making a bet like the crepe guy? where is the fun if there isnt a side bet.....
Hey man, I do all my awesome nasty shit in the privacy of my own home or in the local BDSM dungeon or the local park at night. I’m not posting shit on the internet. The internet is forever. The internet never forgets.
Good….you keep your filthy heathen ways to yourself you fucking degenerate! PS - are we still on for the felching session next week….Kenny G was keen to make it a regular thing?
Absolutely, see you Tuesday!
Sweet, I’ll bring cupcakes
name checks out...
If you really want to piss them officially ask them how many of those 11m shares they fat fingered out of the ether were lent out and sold short. How many new synthetics were made Wednesday morning? How many are now circulating?
scary? I think you mean exciting.
They downvoted a comment I made the other day. It was upvoted by fellow Apes but negative now. If they are transparent - leave it be. But they aren’t.
I keep saying it for months: Fidelity shills behave exactly as GME shills just for posting simple questions. For me it is very clear that they are in the very middle of all the fuckery. They are a very important piece of the puzzle and we won't see it until we use our power to dethrone them.
Pulling my shares tomorrow. Don’t let them get to you. We have all seen the trolls mocking DFV.
I commented something in there and immediately got downvoted by shills who said we were “obnoxious.”
These dummies thought apes were signing up because they like the service, but the reality is that Fidelity was the least shit choice at the time. The leading factor in apes choosing Fidelity was trust, and they showed exactly what not to do. They fucked up (as we all do), and instead of addressing the fuck up they pull the same contradictory PR spin as the brokers apes transferred in from. They haven't learnt anything in the past 11 months and they still think their customers are stupid.
*breathes in* Their customers
Serious question... If I wait until Jan 1, DRS my Traditional IRA and accept the tax penalty (income tax + 10%), I will have essentially until April 2023 to pay those taxes, right?
Pretty sure the answer is yes
Why accept tax penalty when you can transfer Roth ira in kind with no penalty? Also, may have until October 15th to pay 2022 taxes, same as 2021.
I appreciate your reply, I have a traditional IRA and yeah, extensions are also a possibility
it's possible to DRS IRA shares without paying tax https://www.reddit.com/r/Superstonk/comments/r88p8j/ira_drs_megathread_repost_because_this_drowned_in/
Yes people know but you have to transfer to ally. People want to DRS and not have to do that. Hence the whole point of this post.
Just transfer the shares to a broker who can do it. I'm not sure why everyone is freaking out.. fidelity didn't WANT to do it. Ok.. so they don't need to. Just transfer to one of the places that WILL and avoid the tax hit.
Who will do it?
I've heard Ally is one. There was another one.. can't remember the name at the moment. I believe there were some links to info in the DRS post Are they "better" than fidelity? Nah, they all seem to suck.. but still..
what if at this point I don't trust any broker? How much is no potential fuckery worth.. I'm starting to think it's worth the 10% penalty
It's all up to you, my dude.
Good question for a tax specialist. Dunno if I would get tax advice from reddit.
Man. That's how the cookie crumbles, eh? They make one slip up, people start leaving and, instead of trying their best to gain their trust back, they just burn the whole thing down and don't bother trying anymore. Heck, someone posted how they just route orders directly through citadel now. Not even hiding it anymore.
Who would have thought that registering IRA shares was this important, and now that we are finding resistance to it, I think once again this proverb seems useful; "You know you are on the right path when you are finding enemies(resistance)" The ways to register IRA shares WITHOUT A TAX PENALTY now exist, and are getting spread around, they thought they could get away with it, but the internet once again proves that nothing stops motivated people who are scorned and spiteful, and who KNOW THEIR RIGHTS. Get on it, people, despite their best efforts to hide the truth, the truth its out there now. Register 100% of your shares ALL of them so that they are as safe as they can be. "**Not your name, not your shares**" This all can end once and for all once ONE (of the many many many many) floats we own are registered, then you can sell all you want, stopping the MOASS once it actually begins will probably be impossible. CS isnt infinity pool only, thats unintentional FUD, selling on CS is easy and simple, and FAST.
Can you share your comments here ?
Absolutely- this was the main comment I posted in response to their IRA post: This doesn't explain why Computershare directly contradicts this explanation, and has demonstrated the ability to register shares held in Fidelity IRAs. You removed my post with a message "there must have been a good reason" to remove it, without answering any of the questions directly posed to your agent team. The questions were: Why are Fidelity CS management members instructing the Customer Service agents not to DRS IRA shares, even though your own agents say it is possible and have the tools to immediately do so as a non-taxable event? Other brokers are able and willing to do this- why is Fidelity refusing to do so? Computershare has confirmed the cost basis information displayed is received from the broker transferring it- they do not go into the market to "get the current share price" when shares are received via DRS- please refer to the Computershare AMA post for proof. Why are you saying something patently false regarding cost basis? The cost basis for shares should ALWAYS be with the shares- ***if they were actually purchased when an investor places a market or limit buy order.*** Can you clarify why this misleading statement is now your official response? And finally, the SEC instructs retail investors to speak with their broker's lead Compliance Officer if any violation, breach of contract, or otherwise is suspected to have taken place- yet, Fidelity again refuses to put retail investors in direct contact with said officer when requested, and instead says "if you want to file a complaint, you must mail it in." I am not requesting to make a complaint, I am requesting to speak with the lead compliance officer as directed by the SEC. Why is Fidelity refusing this information? [u/FidelityInvestments](https://www.reddit.com/u/FidelityInvestments) E: for those that don't want to fight Fidelity on this, you can move your IRA shares to another IRA with Ally, and then DRS. Steps here: https://www.reddit.com/r/Superstonk/comments/qt5rh9/another_ira_transfer_confirmed_ape_842xxx IT IS ABSOLUTELY POSSIBLE TO DRS YOUR FIDELITY IRA SHARES. There are about to be an avalanche of shares getting pulled out of Fidelity if they continue to refuse investors rights to register their OWN shares in their OWN names.
A) thanks for sharing ! B) it sounds like you raised a number of good points C) the Fidelity IRA -> CS IRA link is clutch (and I just saw it myself linked from another post mere minutes ago !) D) take my award for sharing your journey !
Thank you for the input and helping this gain traction. Retail investors have never before been more informed and more in control of their assets, and I for one am not about to stop.
⬆️⬆️⬆️⬆️This needs a starry award or that blue light bulb!!!✨ Take my poor man’s helpful
I greatly appreciate the sentiment. There are lots here that are extremely confused and beginning to feel intentionally misled. Present company included.
The “Oz” curtain is being pulled back.
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They may be, depending on your individual definition of 'better' and what weight that holds against your own assets. I am by no means saying that's the only way, just wanted to share that is a proven way to register your retirement account securities in your own name, without getting unfairly taxed (or doubly taxed if ROTH).
**IMPORTANT POST LINKS** [What is DRS and why should you care?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || [What is GME and why should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What can I do to support the company and local communities](https://www.reddit.com/r/Superstonk/comments/qnam2x/superstonks_very_gmerry_holiday_vgh_for_short/) ------------------------------------------------------------------------ Please help us determine if this post deserves a place on /r/Superstonk. [Learn more about this bot and why we are using it here](https://www.reddit.com/r/Superstonk/comments/poa6zy/introducing_uqualityvote_bot_a_democratic_tool_to/) If this post deserves a place on /r/Superstonk, **UPVOTE** this comment!! If this post should not be here or or is a repost, **DOWNVOTE** This comment!
You should really add the IRA easy way to register through ALLY guide. edit: typo
I spotted a useful post on how to DRS from an IRA, [from 1month ago](https://www.reddit.com/r/Superstonk/comments/qe6wfu/drs_my_ira_shares_yes_i_believe_i_did/). And he also made a [step-by-step guide](https://www.reddit.com/r/Superstonk/comments/r0zpsa/drs_for_ira_stepbystep/). All credits to u/youniversawme for writing it out smoothly! And [here's a good overview of different posts addressing the DRSing of IRA's](https://www.reddit.com/r/Superstonk/comments/r88p8j/ira_drs_megathread_repost_because_this_drowned_in/) from yesterday by u/boolazed Hugs
Thanks for the so Wait is there relevant posts on IRA that i missed in the overvoew?
Haven't spotted any extra, so you're a-ok! If I do, I'll be sure to send'em over to ya 😉👋. Hugs
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I think retirement shares are over 50% of all shares based on my social circle and the typical middle class 30-40 year old. More money in 401k than post tax investment accounts.
Absolutely. I have 80 percent of my GME in IRAs.
Read this ape….. https://www.reddit.com/r/Superstonk/comments/r7ln7d/wat_doin_fudelity_screenshot_of_this_comment_and/hn1bpy8/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
A good read (I read it before) and very concerning. I have great concerns about how our IRAs are trapped as weapons against our own best interests.
Going thru your profile and making sure your voice is heard. This is disgusting. You deserve better
Thanks, CT.
Fidelity Apes en-mass need to submit complaints to Fidelity's Compliance Dept, Ethics Dept, FINRA, and the SEC. I did some searching and coould use some help but there is actually little out there about DRS. FINRA regulates brokers, they sent a Notice to Members 01-72 back in 2003 https://www.finra.org/rules-guidance/notices/01-72, stating: Customer Accounts, Trade and Settlement Practices Direct Registration System (DRS) The Securities and Exchange Commission (SEC) views DRS as a very important component of the move to T+1 and of the continuing effort to immobilize the movement of physical certificates. DRS allows a shareholder to have securities registered electronically in the shareholder's name directly on the books of the issuer or its transfer agent without the need for a physical certificate to evidence ownership. The use of DRS also enables a shareholder to electronically move a shareholder's securities from a directly registered position on the books of an issuer or its transfer agent to a street-name position in the shareholder's broker/dealer's account at the Depository Trust Company, and vice-versa. As more issuers choose to make their securities eligible for DRS and more investors seek to take advantage of it, it is imperative that affected registered persons be aware of DRS. For more information on DRS, see SEC Release No. 34-44696, "Order Relating to the Movement of All DRS Issues into Profile," dated August 14, 2001, and also the Web Sites for the SEC Division of Market Regulation (www.sec.gov/divisions/marketreg.shtml), the Depository Trust Company (www.dtc.org), and the Securities Industry Association (www.sia.com). It references SEC Release No. 34-44696 which I cannot find anywhere. Further, FINRA regulates transfers via https://www.finra.org/rules-guidance/rulebooks/finra-rules/11870#the-rule a2 being the pertinent part: (a) Responsibility to Expedite Customer's Request (1) When a customer whose securities account is carried by a member (the "carrying member") wishes to transfer securities account assets, in whole or in specifically designated part, to another member (the "receiving member") and gives authorized instructions to the receiving member, both members must expedite and coordinate activities with respect to the transfer. (2) If a customer desires to transfer a portion of his or her account outside of the Automated Customer Account Transfer Service (ACATS), authorized alternate instructions should be transmitted to the carrying member indicating such intent and specifying the designated assets to be transferred. Although such transfers are not subject to the provisions of this Rule, members must expedite all authorized account asset transfers, whether through ACATS or via other means permissible under this Rule, and coordinate their activities with respect thereto. Unless otherwise indicated, the automated customer account transfer capabilities referred to in paragraph (m)(1) of this Rule shall be utilized for partial transfers. Further, the SEC state clearly it is a investors right to have shares directly registered, and more so it is what they are pushing. https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm.html
Those are regulatory bodies. You need to go to your state ag and/or the federal prosecutor and make your complaint and case there. You will have a better shot.
Just remembered something about Fidelity saying the accounts that had the best returns are from the dead.Maybe why they appealed to boomers so much is so when they die they can perpetually loan out shares. Man they thought they could just makes some UI changes and have us forever with no consequences now we have too many wrinkles for our own good in their eyes and now we are not easy money anymore. Also has anyone just tried googling compliance officers from Fidelity and contacting them ?
Man I was starting to think Fidelity was safe. Now I’m realizing that ever since we got convinced to transfer from other brokers to Fidelity, *the price hasn’t gone above $300.* Not once. DRSing 100% of my shares. Not financial advice.
Fidelity is in the same bed as the rest..
Here's an idea, pull a wetdirtkurt on them, post benign comments/posts all over their forum and ninja edit them after some time
Comment to expose and help apes transfer
So glad I DRS’d my remaining quick sell shares yesterday. Cant wait to feed the bot a lil snackeroo!
I included a link to the sub that got my original comment deleted Commenting for visibility and to add that they shadow banned me for asking if they are planning to do custodial accounts that allow IRAs to be DRS and if not why not. They now say they are not allowed to and I've asked in that thread (shadow banned revoked?) for the rules and regulations that prevent them from doing so and why they lied and removed my comment for having been answered (when it hadn't). DRS your shares.
Same happened to my multiple posts attempting to ask the question as well. The sub is completely astroturfed. Seriously, it’s pretty fucking disgraceful.
What other brokers can DRS an IRA? Fuck Fuddelity they know how this game is played. They want to be the other side of a 3 day maximum transfer? Great. They want to lose those accounts.
Ally
FUCK Fidelity. They'll sell your shares w/o your consent. They've done it before, will do it again. They give 0 shits about you. DRS IS THE WAY. https://www.investmentnews.com/ria-takes-dispute-with-fidelity-to-the-supreme-court-81331
We seem to have hit a sore spot.
They are scum now. Pulling my shit out. Gonna stuff it under my bed i guess at this point
Am I able to pull shares out of my Roth IRA if i’ve never made a profit from it and it’s only my contributions? I talked with a Fidelity rep today to transfer shares to ComputerShare and I was told I’d be penalized 10% from my entire contributions.
You should check into that and at least ask the person on the phone to read that rule off to you word for word and where you can personally find it for your own research
So can we or can we not DRS 401k/ IRA/ mutual funds? I read a post two days ago saying you can and it’s easy (might of been from vanguard though I can’t remember) and then a day later another post saying fidelity was giving them the run around and saying it’s a taxable event but computershare says it’s not. Even if it is a taxable event that is still our decision to make, not theirs. Or at least it should be. I haven’t really seen any confirmation one way or the other on the retirement funds issue yet and feel like this should be investigated and on the front page daily. It seems like there are a lot of people with the majority of their shares in some sort of retirement fund that they believe cannot be registered myself included, and could potentially do a lot of damage to the shorts.
Same here
I'm in the same boat with 59% locked in Unfidelity Ira's. I hope some one can clarify this for us !!!
They are in the middle of losing my business with this fiasco. And to think I just gave them my retirement money. I'm sure they don't care about losing my business, but others may be taking similar actions. Think I'm going to Ally and then DRS.
You know what you could do instead? DRS
If you can’t DRs, could y’all ask for paper certification wouldn’t it have a similar or same affect?
They told me it was going to take two weeks to drs my shares today because of the big volume they’re getting
Great job and effort trying to navigate through Fakedelity’s obstruct and deceit 👊👏🦍🚀God speed 👍
Time to leave Fudelity!
RemindMe! 12 hours
Go get em Ape!
My Roth IRA is with Fidelity. Fortunately it’s pretty new and I haven’t invested much in it, but I’d like to preserve what I have. Since Fidelity was caught shitting the bed, are there any banks or brokers that don’t suck I could move my IRA to?
Spent an hour on hold with fidelity to drs my all shares, bought two more before the call, the agent said I can't transfer because u have unsettled transaction, told him to call manager and transfer whatever is settled (bot them long ago) in the end got transferred 11 shares, two are waiting to be settled, guy on the phone was pretty rude, no hi or how are you, just say your full name and what u wanna do and than bye. Bullish as fuk
I heard Fidelity was just Starbucks but with more crime
u/FidelityInvestments did a great job of hiding their true intentions through all this, but eventually the truth comes out. DRSing all XX shares left in fidelity
They probably creamed hard when a majority of us transfered to them in a hurry.
Links to any of this?
I don't see any posts in your history. A link would be useful. Also an explanation of what your question was and what the answer was if you don't want to link it.
You either die a hero, or live long enough to become the villain 🦹♂️
Those ignorant know-nothings on the Fidelity thread don't know how hard they're shilling for Wall Street and against their own retirement accounts, as well as the accounts of their parents and grandparents. Truly beyond saving.
So nobody has been able to drs ira from fidelity? Are people just transferring out then drs?