Regulation A Shares Not Registered Under 1933 Securities Regulation?

[TMOSteel]

Made a separate category for this so people would see it: was just told by Scottrade that they cannot transfer my shares purchased under Regulation A as Elio has not registered them with or under a 1933 Securities regulation.
Has anyone else been given this information by Scottrade?

 

[TMOSteel]

OK so called Vstock Transfer, they put me on with someone higher up who advised that Regulation A stock does not require registration under the Securities Act of 1933:

https://www.sec.gov/answers/regis33.htm

Vstock also advised that they have transferred Elio Regulation A stock to Scottrade and advised to have Scottrade call them.

So I called Scottrade back to advise, they asked for documentation that it was registered to which I again stated it is not required and asked them to contact Vstock. I got the "I'm just a middleman" statement and was put on hold while they tried to contact whoever at Scottrade told them "no" in the first place. Representative came back to advise he had to leave a message for them to contact him back and that he would call me back..

Seriously, what a PITA...

 

[TMOSteel]

Scratch Scottrade off the list, they will not accept stock not registered under the 1933 Securities act nor stock purchased "inside" that has to be held for 1 year.

So it looks like I need a new broker for these shares.

 

[Johnny Acree]

That's the problem with being first, we get to find the bugs in the process that should have been worked out by who ever does that.

 

[goelio]

OK so called Vstock Transfer, they put me on with someone higher up who advised that Regulation A stock does not require registration under the Securities Act of 1933:

https://www.sec.gov/answers/regis33.htm

Vstock also advised that they have transferred Elio Regulation A stock to Scottrade and advised to have Scottrade call them.

So I called Scottrade back to advise, they asked for documentation that it was registered to which I again stated it is not required and asked them to contact Vstock. I got the "I'm just a middleman" statement and was put on hold while they tried to contact whoever at Scottrade told them "no" in the first place. Representative came back to advise he had to leave a message for them to contact him back and that he would call me back..

Seriously, what a PITA...

try etrade. I got my shares transferred to etrade

 

[TMOSteel]

try etrade. I got my shares transferred to etrade

OK, good to know, I have my company stock with them so that may be an option. Just to clarify, you received some type of confirmation or are actually seeing the Regulation A stock under your etrade account?

 

[TMOSteel]

OK so called Vstock Transfer, they put me on with someone higher up who advised that Regulation A stock does not require registration under the Securities Act of 1933:

https://www.sec.gov/answers/regis33.htm

Vstock also advised that they have transferred Elio Regulation A stock to Scottrade and advised to have Scottrade call them.

So I called Scottrade back to advise, they asked for documentation that it was registered to which I again stated it is not required and asked them to contact Vstock. I got the "I'm just a middleman" statement and was put on hold while they tried to contact whoever at Scottrade told them "no" in the first place. Representative came back to advise he had to leave a message for them to contact him back and that he would call me back..

Seriously, what a PITA...

So it looks like Scottrade may have dropped the ball: I got 2 calls today as I really wanted clarification why Scottrade wouldn't accept these shares and other financial institutions would. So Scottrade left me two messages, first one again stating they could not accept the shares, and then a second one saying they had contacted Vstock transfer and were told that these are NOT RESTRICTED SHARES and they could accept them.

Now, I haven't called them back yet as 1) I opened an E*TRADE account and initianted a transfer with them and 2) I need a few hours to cool down before I rip them a new one. I understand this whole thing is "new" but if you look at my post from Friday Vstock had asked to have Scottrade contact them which Scottrade basically blew off. Granted, this wasn't the same guy that followed up with me but still had they contacted Vstock and spoke with the person I spoke with (I think it was Ivan) this whole thing could have been resolved.

At this point I'm going to wait out the E*TRADE request and see what happens, and if that doesn't go through I may get back to Scottrade. So if anyone else runs into this type of issue I would insist on a conference call with Vstock and initiate it yourself while your broker is on the line.

 

[Travelbuzz1]

Made a separate category for this so people would see it: was just told by Scottrade that they cannot transfer my shares purchased under Regulation A as Elio has not registered them with or under a 1933 Securities regulation.
Has anyone else been given this information by Scottrade?

I am working with Charles Schwab..https://client.schwab.com....so far so good.

 

[Coss]

When all of these bumps in the road get worked out; if someone would like to compile a good / no good list of the places that will and won't accept E-stock and I'll make it a sticky in here.
No sense trying to do it before we have some good solid information.

 

[TMOSteel]

When all of these bumps in the road get worked out; if someone would like to compile a good / no good list of the places that will and won't accept E-stock and I'll make it a sticky in here.
No sense trying to do it before we have some good solid information.

Agreed; there are so many "no" posts with equal "yes" posts about the same broker, "no" posts that used to be "yes" but only up to a certain date, etc. etc. its all very confusing. (I'm still waiting on E*TRADE...)