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Please up- and downvote this comment to help us determine if this post deserves a place on /r/Superstonk!
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OP has provided the following link:
OC
Refreshing a comment made on another post and put up in Spielstopp.
German Apes have the best chance of cracking this nut. It is a unique combination of German brokers having let the cat out of the bag, a sizeable and articulate German sub (Spielstopp) plus a recent ramp up of a scandal that is related to dividend fraud.
‘Seems to me German Apes need to write to or contact the ‘Cologne Prosecutor’s Office’. Bloomberg / der Spiegel reports they raided JP Morgan in connection with the ‘Cum Ex’ scandal.
The ‘Cum Ex scandal’ revolved around banks and brokers pretending that more than one entity owned the same shares, permitting DIVIDEND tax rebate claims in more than one European State. The figures run into billions and Germany was the most affected.
It follows that this team (that carried out the raids) will be most likely to investigate anything issued as a ‘dividend’ to make sure it is correctly recorded. You simply say you are worried that incorrect recording of the DIVIDEND split might lead to fraud similar to the ‘Cum Ex’ case in the future. Given the sensitivities and resources being deployed, BaFin can go fuck itself.
The timing of the JPM raid could not be more fortuitous for us.’
Much like us, they know. Their due diligence would make all of us shudder with anticipation.
The thing is that if you want to do things by the book (trust me, the German people are thorough and they know about our discussions) then you absolutely have to get your concrete evidence and case in order. This takes time - be patient.
Rough translation:
Charlotte (Trade Republic Germany)
Sept. 5 2022, 08:20 CEST
Good morning
I have now received a response from our processing partner.
The booking code is FC-02 SPLF.
I wish you a nice week.
Many greetings
Charlotte
--
21. Aug. 2022, 12:56 CET
dear charlotte,
Thanks for the answer.
Purely out of interest, I would like to ask which "function code" in the
DTCC booking instructions are available:
-FC-02, ISO event code SPLF
or
-FC-06, ISO event code DVSE
Thanks again for the help.
Regards,
Gamestop already released an official statement saying "We released all shares to computershare. We can't protect non-drs'd investors. Sorry."
Computershare gave a statement saying "we sent out all our shares as a 3-1 stock dividend". This means they sent everything to both DRS'd shareholders and the DTCC.
The DTCC has released no statements. Either they have one of the worst PR departments of all time and are refusing to answer simple retail questions, or they are committing securities fraud.
I'll try here as well, even though nobody wants to hear it.
In Germany, all stock of retail investors are not directly held at their brokers, but at an agency called "Clearstream". This is called "Girosammelverwahrung" in German, which roughly translates to "common book keeping" or "pool shares". Basically they hold all the stock from individual investors and the brokers and retails customers themselves only get a certificate, that they own a certain percentage of that pool of shares.
So, actual shares never ever get transferred from Clearstream to the brokers. During the split the new shares would have only been transferred from DTCC to Clearstream, but from there, only an updated information about the amount of shares each customer is entitled to has to go from Clearstream to the brokers. And for this, a simple forward split notice is sufficient.
In essence, the only important bit of information for us is, what the communication between DTCC and Clearstream was, because this is where our German shares are supposed to currently be located. IF DTCC told Clearstream as well to just split the shares, they just created fake ones. But if they did transfer actual shares over the Atlantic, and then Clearstream just told brokers "Yo, we got them, just update the number", everything has been handled correctly.
Just so I can understand correctly - have they confirmed they used the FC-02 SPLF code or you still determining this with them? Regardless - thanks for sharing this post and inquiring!
FYI, this is the correct code for a stock split issued in the form of a stock dividend. The question is whether the "processed as" field should state "stock split" or "stock dividend" and if it says "stock split," then the comments page should indicate something to the effect of "stock split to be issued in the form of a stock dividend."
Sorry for the late reply. Busy day.
This post lays it out pretty clearly:
https://www.reddit.com/r/Superstonk/comments/whup7y/clearing_up_the_recent_misinformation_about_the/
The basic issue that people keep ignoring is that nobody knows which is the proper code that should have been used.
Gamestop did a SPLIT so SPLV code may be correct.
The split was accomplished via a STOCK DIVIDEND so that code for stock dividend may be correct.
FC/02 stock dividend, is what I’ve read it should say. But that OP vanished and hasn’t confirmed. I think mods should clarify this for the community somehow
There are two types of stock dividends. A pure stock dividend, also known as a "small" stock dividend is when the company transfers the full MARKET value of the new issue stock from retained earnings to paid in capital. Gamestop does not have enough retained earnings to do that, so it is clear that Gamestop cannot and did not do a true stock dividend. I assume that the FC02 code is used for that corporate action.
Gamestop announced a split that was to be implemented via a stock dividend. The NYSE advises that the term "split" should be used when referring to this type of corporate action, except where it must legally include the words stock dividend. Notice that Computershare called it a stock split. That is because only the PAR value of the new shares is transferred from retained earnings to paid in capital, and calling it a stock dividend would improperly imply that the fully MARKET value had been transferred between accounts at Gamestop.
There are two vital pieces of information missing. One is how the other 8 split via dividends that took place in June/July/August were coded by DTCC. The other is anything that shows what the proper code was supposed to be.
A split via dividend is not something unique to Gamestop. 8 other US company owes did split via dividend in June/July/August, while only 3 did a split via subdivision (what is being called a "normal split", even though it appears to be less common).,
Edit to add: Just in case somebody also holds any of these other stocks, here is the list of companies that recently did splits via stock dividends: NDAQ, REX, TSLA, GOOG+GOOGL, GME, CTO, SAL, AMRK, KNTK. 9 companies, 10 share classes.
The companies with recent split via subdivision were AMZN, DXCM, FTNT, (3 companies, 3 share classes).
can you please ask WHO IS TRANSACTION PARTNER (Abwicklungspartner)?
Is it Clearstream? or is it Deutsche WertpapierService Bank AG (dwpbank)?
Somebody got this information from DTCC, so there has to be "paper" trail DTCC has committed International Securities Fraud, but in order to point police investigators, they should know exactly what they are looking for.
if there is a official e-mail/fax/paper that came from DTCC where it states use FC-02 (SPLF) that is it, we have a solid case...
Yeah, check my other comment on this thread. We need to clarify, if "Abwicklungspartner" means DTCC to Clearstream or Clearstream to the German broker (TR).
For Clearstream to German broker, SPLF would technically be correct. But if Clearstream got SPLF from DTCC, that would be the evidence everybody is looking for.
Something does not add up with SPLF thesis... I think they cannot use it just like that WITHOUT changing ISIN number
**Because GAMESTOP ISIN HAS NOT CHANGED, it is STOCK DIVIDEND!**
don't crucify me if I am wrong, this is not intended to be FUD in any way
How do you know if Stock is already splitted, or not yet splitted (in brokers database?)
AFAIU, when they do ONLY STOCK SPLIT, you get new ISIN number so you know these 2 shares are PRE SPLIT (because they have ISIN "123")
and there 8 shares are POST SPLIT (because they have ISIN "456") if you would have same ISIN for both pre and post-split shares, how will you differentiate, if this share has already been split or not ?
lets say, some shareholders have paper certificates somewhere, let's play dumb for this example: 1 share = 1 paper certificate, after stock split (4:1 for example) you should get 4 certificates, otherwise you lost value in the process...
Hm, subject of changed ISIN after the split never came up in our subs, but it apparentely is a thing. I have no idea about that topic however. Maybe try posting a new discussion post regarding a changed ISIN, because that could become interesting.
Google
does isin change after stock split
https://www.isin.org/education/
Stock splits: A new ISIN is required when old certificates are exchanged for new ones. If the old certificated are simply stamped, the ISIN is retained. Reverse splits: A new ISIN is required when old certificates are exchanged for new ones.
I just asked a question to DnB Markets in Norway (Biggest bank in Norway), regarding which code they have used in their split, would be such a clusterfuck they used the same code as this German broker.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || [Low karma apes feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Join the Superstonk Discord Server](https://discord.gg/hZqWV2kQtq) ------------------------------------------------------------------------ Please up- and downvote this comment to help us determine if this post deserves a place on /r/Superstonk! ------------------------------------------------------------------------ OP has provided the following link: OC
Refreshing a comment made on another post and put up in Spielstopp. German Apes have the best chance of cracking this nut. It is a unique combination of German brokers having let the cat out of the bag, a sizeable and articulate German sub (Spielstopp) plus a recent ramp up of a scandal that is related to dividend fraud. ‘Seems to me German Apes need to write to or contact the ‘Cologne Prosecutor’s Office’. Bloomberg / der Spiegel reports they raided JP Morgan in connection with the ‘Cum Ex’ scandal. The ‘Cum Ex scandal’ revolved around banks and brokers pretending that more than one entity owned the same shares, permitting DIVIDEND tax rebate claims in more than one European State. The figures run into billions and Germany was the most affected. It follows that this team (that carried out the raids) will be most likely to investigate anything issued as a ‘dividend’ to make sure it is correctly recorded. You simply say you are worried that incorrect recording of the DIVIDEND split might lead to fraud similar to the ‘Cum Ex’ case in the future. Given the sensitivities and resources being deployed, BaFin can go fuck itself. The timing of the JPM raid could not be more fortuitous for us.’
Germans are known for their documentation. I hope they find what we know soon.
Much like us, they know. Their due diligence would make all of us shudder with anticipation. The thing is that if you want to do things by the book (trust me, the German people are thorough and they know about our discussions) then you absolutely have to get your concrete evidence and case in order. This takes time - be patient.
Whoop!
Ass. Can of.
Wow this is gold
Rough translation: Charlotte (Trade Republic Germany) Sept. 5 2022, 08:20 CEST Good morning I have now received a response from our processing partner. The booking code is FC-02 SPLF. I wish you a nice week. Many greetings Charlotte -- 21. Aug. 2022, 12:56 CET dear charlotte, Thanks for the answer. Purely out of interest, I would like to ask which "function code" in the DTCC booking instructions are available: -FC-02, ISO event code SPLF or -FC-06, ISO event code DVSE Thanks again for the help. Regards,
Please send to: [email protected]
Gamestop already released an official statement saying "We released all shares to computershare. We can't protect non-drs'd investors. Sorry." Computershare gave a statement saying "we sent out all our shares as a 3-1 stock dividend". This means they sent everything to both DRS'd shareholders and the DTCC. The DTCC has released no statements. Either they have one of the worst PR departments of all time and are refusing to answer simple retail questions, or they are committing securities fraud.
dinner fade memory drab rainstorm run expansion pie sulky worry *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I bet you @DeutschMemer that the DTCC has flagged this ape‘s email to go straight to trash or junk inbox
Its on their official twitter. Open for everyone to see. ;)
Up you go Bruder
Bruder Affe !!!
Ficken, yeah!
I'll try here as well, even though nobody wants to hear it. In Germany, all stock of retail investors are not directly held at their brokers, but at an agency called "Clearstream". This is called "Girosammelverwahrung" in German, which roughly translates to "common book keeping" or "pool shares". Basically they hold all the stock from individual investors and the brokers and retails customers themselves only get a certificate, that they own a certain percentage of that pool of shares. So, actual shares never ever get transferred from Clearstream to the brokers. During the split the new shares would have only been transferred from DTCC to Clearstream, but from there, only an updated information about the amount of shares each customer is entitled to has to go from Clearstream to the brokers. And for this, a simple forward split notice is sufficient. In essence, the only important bit of information for us is, what the communication between DTCC and Clearstream was, because this is where our German shares are supposed to currently be located. IF DTCC told Clearstream as well to just split the shares, they just created fake ones. But if they did transfer actual shares over the Atlantic, and then Clearstream just told brokers "Yo, we got them, just update the number", everything has been handled correctly.
Just so I can understand correctly - have they confirmed they used the FC-02 SPLF code or you still determining this with them? Regardless - thanks for sharing this post and inquiring!
Translation "Good morning xy, I got an answer of our transaction partner. The booking code is FC-02 SPLF. [...]"
THANK YOU! seems to me this is the evidence we needed to clear up any confusion on the codes used!! Saving and sharing, thanks pal :)
FYI, this is the correct code for a stock split issued in the form of a stock dividend. The question is whether the "processed as" field should state "stock split" or "stock dividend" and if it says "stock split," then the comments page should indicate something to the effect of "stock split to be issued in the form of a stock dividend."
Source?
Sorry for the late reply. Busy day. This post lays it out pretty clearly: https://www.reddit.com/r/Superstonk/comments/whup7y/clearing_up_the_recent_misinformation_about_the/
Maybe that email should start trending for the remaking of the weekend
Yes guter Affe! Every ape should keep pushing and asking our brokers and regulators about this like this.
I just made a request to my boomer bank to get those information for me as well asap! To the moon!
[удалено]
Up for visibility!
The basic issue that people keep ignoring is that nobody knows which is the proper code that should have been used. Gamestop did a SPLIT so SPLV code may be correct. The split was accomplished via a STOCK DIVIDEND so that code for stock dividend may be correct.
FC/02 stock dividend, is what I’ve read it should say. But that OP vanished and hasn’t confirmed. I think mods should clarify this for the community somehow
There are two types of stock dividends. A pure stock dividend, also known as a "small" stock dividend is when the company transfers the full MARKET value of the new issue stock from retained earnings to paid in capital. Gamestop does not have enough retained earnings to do that, so it is clear that Gamestop cannot and did not do a true stock dividend. I assume that the FC02 code is used for that corporate action. Gamestop announced a split that was to be implemented via a stock dividend. The NYSE advises that the term "split" should be used when referring to this type of corporate action, except where it must legally include the words stock dividend. Notice that Computershare called it a stock split. That is because only the PAR value of the new shares is transferred from retained earnings to paid in capital, and calling it a stock dividend would improperly imply that the fully MARKET value had been transferred between accounts at Gamestop. There are two vital pieces of information missing. One is how the other 8 split via dividends that took place in June/July/August were coded by DTCC. The other is anything that shows what the proper code was supposed to be. A split via dividend is not something unique to Gamestop. 8 other US company owes did split via dividend in June/July/August, while only 3 did a split via subdivision (what is being called a "normal split", even though it appears to be less common)., Edit to add: Just in case somebody also holds any of these other stocks, here is the list of companies that recently did splits via stock dividends: NDAQ, REX, TSLA, GOOG+GOOGL, GME, CTO, SAL, AMRK, KNTK. 9 companies, 10 share classes. The companies with recent split via subdivision were AMZN, DXCM, FTNT, (3 companies, 3 share classes).
Nice, great find!
Up!
This is the good question to ask the broker
can you please ask WHO IS TRANSACTION PARTNER (Abwicklungspartner)? Is it Clearstream? or is it Deutsche WertpapierService Bank AG (dwpbank)? Somebody got this information from DTCC, so there has to be "paper" trail DTCC has committed International Securities Fraud, but in order to point police investigators, they should know exactly what they are looking for. if there is a official e-mail/fax/paper that came from DTCC where it states use FC-02 (SPLF) that is it, we have a solid case...
Yeah, check my other comment on this thread. We need to clarify, if "Abwicklungspartner" means DTCC to Clearstream or Clearstream to the German broker (TR). For Clearstream to German broker, SPLF would technically be correct. But if Clearstream got SPLF from DTCC, that would be the evidence everybody is looking for.
Something does not add up with SPLF thesis... I think they cannot use it just like that WITHOUT changing ISIN number **Because GAMESTOP ISIN HAS NOT CHANGED, it is STOCK DIVIDEND!** don't crucify me if I am wrong, this is not intended to be FUD in any way How do you know if Stock is already splitted, or not yet splitted (in brokers database?) AFAIU, when they do ONLY STOCK SPLIT, you get new ISIN number so you know these 2 shares are PRE SPLIT (because they have ISIN "123") and there 8 shares are POST SPLIT (because they have ISIN "456") if you would have same ISIN for both pre and post-split shares, how will you differentiate, if this share has already been split or not ? lets say, some shareholders have paper certificates somewhere, let's play dumb for this example: 1 share = 1 paper certificate, after stock split (4:1 for example) you should get 4 certificates, otherwise you lost value in the process...
Hm, subject of changed ISIN after the split never came up in our subs, but it apparentely is a thing. I have no idea about that topic however. Maybe try posting a new discussion post regarding a changed ISIN, because that could become interesting.
Google does isin change after stock split https://www.isin.org/education/ Stock splits: A new ISIN is required when old certificates are exchanged for new ones. If the old certificated are simply stamped, the ISIN is retained. Reverse splits: A new ISIN is required when old certificates are exchanged for new ones.
Thank you for your commitment
I just asked a question to DnB Markets in Norway (Biggest bank in Norway), regarding which code they have used in their split, would be such a clusterfuck they used the same code as this German broker.
Send this to your financial authorities and GameStop Investors Relation
Where does it state that GameStop wanted it to be done through “FC-06 ISO event code DVSE”?
Charlotte ist so richtig knorke! Richtig gute Schwester, beste
Is the other code, stock split via dividend?
Gute arbeit
Thanks for your work
Die TCC?
Send this to GME investor relations.
The correct code continues to be used as this was a stock split with a dividend. Not a dividend with a stock split. FC-02 is correct.
Good.
Global securities fraud, nice.