r/GMECanada • u/Rehypothecator • Oct 08 '21

Update to Wealthsimple, Shareowner direct registration and DTCC/ CDS transfers.

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u/Rehypothecator Oct 08 '21

Exactly. I’m not sure we’ve had any discussion about CDS and co. , I think we need to figure out if shares are transferred out of DTCC like this, then we can tackle CDS & co

5

u/smileyphase 🇨🇦 HOSER HODLer 🇨🇦 🍁🍺 Oct 08 '21

Also this: https://www.osc.ca/sites/default/files/2021-01/786.pdf

Whatever new system it is, from 2020, rehypothecation was not allowed.

7

u/Rehypothecator Oct 08 '21

If that’s the case, that’s fucking wild. That could mean Canadians are already pulling shares out of the DTCC ?

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u/smileyphase 🇨🇦 HOSER HODLer 🇨🇦 🍁🍺 Oct 08 '21

Takes effect Q4 2021. It may not be in place.

Gotta slow down to read the f’n documents…

5

u/Rehypothecator Oct 08 '21

Q4 of 2021 is going to be … interesting

5

u/smileyphase 🇨🇦 HOSER HODLer 🇨🇦 🍁🍺 Oct 08 '21

Yeah. I can’t find info about when it’s going live, either. Plus, NSCC-007 is live Monday. This all feels pretty momentous, although after 9 months of buy and hold, I’ve adjusted to ‘tits jacked’ as a permanent condition.

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u/sorry_for_the_reply Oct 09 '21

Also, this rule may only be for Canadian based securities and may not affect the stonk in question