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On settlement, the seller must produce the security's certificate and executed share transfer form in exchange for payment from the purchaser. Many countries now dispense with the requirement that a physical stock certificate be produced, a process known as dematerialization , and have adopted electronic settlement systems.
A stock transfer agent, transfer agent, share registry or transfer agency is an entity, usually a third-party firm unrelated to security transactions, that manages the change in ownership of company stock or investment fund shares, maintains a register of ownership and acts as paying agent for the payment of dividends and other distributions to investors.
Automated Customer Account Transfer Service (ACATS) is an almost entirely electronic system in the United States that executes the transfer of financial securities from a trading account at one institution to the trading account at another.
The process involves the simultaneous delivery of all documents necessary to give effect to a transfer of securities in exchange for the receipt of the stipulated payment amount. Alternatively, it may involve transfers of two securities in such a way as to ensure that delivery of one security occurs if and only if the corresponding delivery of ...
From January 2008 to July 2009, if you bought shares in companies when William Barnet, III joined the board, and sold them when he left, you would have a -64.4 percent return on your investment, compared to a -32.7 percent return from the S&P 500.
From January 2008 to December 2012, if you bought shares in companies when Peter A. Magowan joined the board, and sold them when he left, you would have a 23.5 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
The provision was enacted as part of the Tax Reform Act of 1986 as a way of placing owners of offshore investment funds on a similar footing to owners of U.S. investment funds (regulated investment companies). [2] The original provisions applied for all foreign corporations meeting either an income or an asset test.
From January 2008 to May 2011, if you bought shares in companies when Donald W. Riegle, Jr. joined the board, and sold them when he left, you would have a -9.0 percent return on your investment, compared to a -9.5 percent return from the S&P 500.