Global Lock - Securities l Corporate l Business Law

Cry Me A River – DTC Chills & Global Locks – Going Public Attorneys

Securities Lawyer 101 Blog The Depository Trust and Clearing Corporation (“DTCC”), through its subsidiaries, provides clearing, settlement and information services for securities.  DTCC’s subsidiary, the Depository Trust Company (“DTC”), was created to improve efficiencies and reduce risk in… Read More

DTC Eligibility Q & A – Creating Liquidity with Electronic Trading

Posted By Brenda Hamilton, Securities Lawyer The Depository Trust and Clearing Corporation (“DTCC”), through its subsidiaries, provides clearing, settlement and information services for securities. DTCC’s subsidiary, the Depository Trust Company (“DTC”) was created to improve efficiencies and reduce… Read More

DTC Eligibility Explained By The Going Public Attorneys

Posted by Brenda Hamilton, Securities and Going Public Lawyer Q. What is The Depository Trust Company (“DTC”)? A. DTC is the only stock depository in the United States. Q. How do public companies obtain a DTC eligibility? A…. Read More

DTCC Removes Global Lock of Veltex Corporation’s Securities

Effective October 17, 2014, the Depository Trust Company (“DTCC”) has reinstated services for the securities of Veltex Corporation (“Veltex”). Stephen G. Macklem, CFO of Veltex quantified in a statement, “Veltex, thru the retention of the Law Offices of Hamilton… Read More

Proposals For DTC Chills and Global Locks WITHDRAWN

On December 18, 2013, the Depository Trust Company (“DTC”) submitted a proposed rule change to the Securities and Exchange Commission (“SEC”), which regulates its activities.  Its aim was to “specify procedures available to issuers of securities deposited at… Read More

DTC Chill Conspiracy Theories On the Rise

Securities Lawyer 101 Blog The Depository Trust Company (“DTC”) is the only stock depository in the United States.  When DTC provides services as the depository for an issuer’s securities, its securities can trade electronically. Without DTC eligibility, it is almost… Read More

SEC Extends DTC Proposal Period By: Brenda Hamilton

Securities Lawyer 101 Blog On December 5, 2013, The Depository Trust Company (“DTC”) submitted DTC proposals to change SR-DTC-2013-11 (“Proposed Rules”) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 19b-4 thereunder… Read More

How Can I Remove a DTC Chill Or Global Lock? Securities Lawyer 101

Securities Lawyer 101 Blog DTC Chills and global locks continue to be a growing problem for small companies. The Depository Trust and Clear Corporation (“DTCC”), through its subsidiaries, provides clearing, settlement and information services for securities.  DTCC’s subsidiary,… Read More

SEC Seeks Comment On DTC Proposals

Securities Lawyer 101 Blog On December 18, 2013, the SEC published a notice to solicit comments concerning The Depository Trust Company’s (“DTC”) proposals to specify procedures for securities deposited at DTC for book entry services when it imposes… Read More

DTC Proposes Procedures For DTC Chills and Global Locks

The Depository Trust Company is a subsidiary of The Depository Trust & Clearing Corpora­tion (“DTCC”), and is the central securities depository in the U.S. The SEC, the Federal Reserve System and the New York State Department of Financial… Read More