• Brokers Push For AST Transfers

    Several brokers seem to be done with MMTLP. Four brokers now have issued deadlines for transferring. brokers want out.

    Connecticut based broker Interactive Brokers seems ready to be done with MMTLP. They sent out a Voluntary CA Election notice letting people opt in or out of AST registration.

    It’s also been reported that this broker has a deadline of August 14th to transfer shares or opt out. This is quite odd since the S-1 isn’t even effective yet, and Next Bridge is allowing 60 days after the S-1 effectiveness to have your shares transferred to AST.

    Looks like this broker wants to wash their hands of MMTLP as quickly as possible. They may see the storm brewing.

    Other reports are coming in with the same urgency. Small broker Tiger Trades, who is licensed in the USA and Singapore also released information on offloading Next Bridge Shares.

    Community member Junk Savvy added two more brokers to the list, along with her tweet report on the two above.

    Is anyone surprised we are not seeing directives from Fidelity, E-Trade or TD Ameritrade? We’re not. It is our opinion that these are 3 of the most oversold brokers out there and they’ll try to delay this as long as they can.