Transferring securities between brokerage accounts held by the same account holder is a simple processo. Account holders, whether individuals or legal entities, may request, through your securities broker, the transfer of all or part of your securities to another account opened in your name.
All brokerage firms participating in the
To complete the transfer, you must have a brokerage account open at the
- Initial Application: The account holder must begin the process by submitting a transfer request to the
- Authorization and Implementation: Once the existence of the brokerage account has been verified in the
- Confirmation of the Transfer: Finally, after CEVALDOM has completed the transfer, it issues an official confirmation to the
Regulations and Considerations
It is essential that this process be carried out with certain considerations in mind. To ensure transparency, security, and the protection of your rights as investors, it is vital that you take the following into account:
- Requests to transfer securities will only be processed when the securities are in the "available" status in the brokerage account.
- For transfers between accounts held by the same account holder, the account receiving the securities to be transferred must be held in the name of the same person as the account in which the securities are registered.
- If the source account is an individual account, the destination account must also be an individual account. If the source account is held in the names of several people, the destination account must be held in the names of those same people.
Fees and Charges
Commissions and fees for transferring securities between brokerage accounts may vary depending on the
Regarding fees and commissions, it is important to note that CEVALDOM charges a flat fee for these transactions, totaling three hundred Dominican pesos (RD$300).
Similarly, we remind you that this service can only be provided by the intermediary, for both individuals and legal entities; therefore, it is important to verify the fee schedules for each
Conclusion
In summary, the transfer of securities between brokerage accounts offers investors the flexibility to manage their accounts through the broker of their choice, thereby enabling them to make decisions with greater confidence. For more detailed information on the applicable procedures and regulations, we invite investors to consult directly with their brokerage firms. or visit the CEVALDOM's Internal Regulations.
José E. Cross
Investor Protection and Education Specialist
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