All transfers into a brokerage account must be approved and processed by your brokerage firm. There are more than 3,500 brokerage firms that registered in the US and each firm has their own policies and procedures for accepting stock deposits. Trading stock and depositing stock are two different services and sometimes a brokerage firm may allow secondary trading (buying and selling in the open market) but may not allow stock deposits in the same securities you are allowed to trade. Some brokerage firms may only accept deposits of securities that trade on an exchange, such as the NYSE or NASDAQ, which excludes securities that trade over-the-counter (OTC) securities. Although many states have legalized certain uses for cannabis, it remains illegal under federal law making it a regulatory risk for brokerage firms that accept trading and deposits of cannabis-related businesses. If your shares are restricted, most all brokerage firms have a restricted stock department that manages the deposit and resale of restricted stock. For all these reasons described and ones that are not, we recommend contacting the brokerage firm and requesting their procedures for depositing your shares.

⇾ For more information about Restricted Stock, click HERE.

As a transfer agent, we can only transfer shares using three methods, which are in physical certificate form, Direct Registry System (DRS), and Deposit/Withdrawal at Custodian (DWAC). Each method had different requirements and may not be available for all securities.

Below are a few links to articles we have put together to describe the procedure to deposit stock into the specific brokerage.

⇾ For more information about Direct Registry Transfer (DRS), click HERE.