this post was submitted on 28 Aug 2023
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WhyDRS

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There Are Not More Shares Than There Should Be (lemmy.whynotdrs.org)
submitted 1 year ago by [email protected] to c/[email protected]
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"As a result, a beneficial owner's ownership cannot be tracked to specific shares but rather its ownership interest is represented as a securities entitlement at his or her broker-dealer. Each of those beneficial owners don't own the actual shares credited to their account " https://www.sec.gov/news/speech/2007/spch101607ers.htm

There can however be more security entitlements than total shares issued by the company.

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[–] [email protected] 4 points 1 year ago

I see this was a speech by the SEC's Director of Market Regulation.

For anyone wondering/looking, you can find the quote 6 paragraphs down (3 down from "What is the problem?" section).