Re: Can the brokerage vote my shares if I don't vote?

From: jmorgan@ecentral.com
Subject: Re: Can the brokerage vote my shares if I don't vote?
Date: Tue, 8 Dec 1998 20:56:18 -0700

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>From: "L. Chen" <am302@freenet.buffalo.edu>
>Subject: Can the brokerage vote my shares if I don't vote?
>
>One of the Waterhouse Securities' customer rep. told me this:  For
securities
>registered in "street name", if I don't vote my shares, THEORETICALLY
(under
>SEC rules) the brokerage house can vote my shares.
>
>Does any one know whether this is true or false?

Dunno.  All the proxy ballots I've ever gotten require a signature.

I suppose if what you say is the case, your broker would have
notified you of this somewhere in the account agreement, probably
using a 3 point font.

To play devil's advocate and throw a wrench into the works,
what happens if the co-owners of shares held in JTWROS
don't agree on how to vote?

Do they each get 1/2 vote?

If one votes shares without consent of the other, does the
neglected dejected owner have recourse?

Wondering, as I usually do...

J.



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