IB - Annual Report Hell

Discussion in 'Interactive Brokers' started by ctrader, Apr 16, 2003.

  1. ctrader


    Too bad I can't copy and paste a online help chat session.

    Basically this is the problem - From about mid feb to March I held SMH.

    In the last couple of weeks I have started receiving Semiconductor companies annual reports and proxy forms, even though I have never directly owned this company.

    IB says I should only receive reports from companies I am direct shareholder in. But they are required by SEC to forward on all reports that come from companies.

    I don't want these reports. Want IB to save money by not sending me reports. But chat help says there is nothing they can do. In fact, I don't want reports from any company.

    What if I buy SPY? Am I going to get 500 reports? I am sure that will make the mailman real happy.

    The chat guy admitted this seemed weird, but there is nothing he can do about it.

    Any ideas?
  2. There are very strict compliance laws all publicly traded corporations must follow, including the annual report distribution.

    At this point, all you can do is make sure you recycle, and maybe write a letter to the SEC.
  3. Sanjuro


    If you own a company shares for a certain amount of time,
    you will automatically be mailed their annual reports and
    voting packets. I don't think there is an option to opt out
    of receiving these packages.
  4. I thought IB had a no JUNK MAIL policy ... annual what?

    Bluehorseshoe recommends you SELL - The Mailmen of America Foundation and Save the Trees International will be grateful.

    In all seriousness, blue has the skinny that the semi firms are still printing enough volumes of their reports to satisfy a 1Q 2000 shareholder base. Now that nobody wants to own semi shares directly, some firms are obtaining lists of SMH holders and spamming their snail boxes - kind of like share marketing during the 'good old days', just without the roadshow.

    Sympathies ...
  5. cas


    I have an account at brown that I have enrolled to receive electronic shareholder statements....still get them, but atleast they are now in the form of an e-mail with a link to read the electronic stmt. This is handled by an outside company (i forget right now), and not by BrownCo. I have this same option with anotherbroker as well. I don't hold any positions with IB...so I guess it's never came up.

  6. Background on your right to receive electronic communications

    HOLDRS represent an investor's undivided beneficial ownership in the common stock or ADRs of specified companies. Accordingly, owners of HOLDRS have the right to receive all shareholder disclosure materials and proxy materials distributed by the issuers of the underlying securities.

    Where permitted by the issuer, you may elect to receive these shareholder disclosure and proxy materials by email rather than traditional, physical mail. This can save you the inconvenience of receiving numerous physical annual reports and proxies in the mail. This also saves the issuer printing and postage costs.

    Electing to receive your communications electronically still enables you to review all of the documents that you would have otherwise received through traditional mail and gives you the ability to exercise all of your corporate governance rights electronically.


    By clicking in the box below, you will be linked to Investor Communication Services (ICS). ICS is run by Automated Data Processing, Inc. (ADP), which serves as agent for participant banks and broker-dealers. Through ICS you will be able to elect to receive electronic shareholder disclosure and proxy materials for securities held in a particular brokerage account, including the underlying securities represented in HOLDRS. It is important to note that this is a global consent (also known as an "all or nothing consent") and thus does not allow you to elect to receive only certain materials electronically. You may terminate your election to receive electronic shareholder disclosure and proxy materials at any time through ICS.

    Enrollment with ICS is free and you will never be billed for the service. In order to enroll you will be required to provide ICS with certain information, including an email address and the account number of the brokerage account that you wish to enroll.

    Enrollment with ICS is a two-part process. After providing the information requested on the ICS website, you will receive a single Verification Letter through traditional mail that will contain a control number and instructions to return to the ICS website to complete the enrollment.

    Email notification

    ICS will send you notice by email each time a participating issuer of a security held in your account distributes shareholder material. This notice, in turn, will include a PDF or HTML version of the shareholder communication or will direct you to a specific website where the shareholder information can be viewed. The notice will also provide you with instructions as to how to vote your proxy, if applicable.

    When issuers do not permit electronic delivery

    Some issuers may not elect to provide their shareholders with electronic communications. You will continue to receive traditional, paper-based mail from these companies, regardless of your election.

    Changing your email address and undeliverable emails

    If ICS is ever unable to send you an email notification (either because you have changed your email address or the email is otherwise undeliverable) with respect to a particular shareholder communication, ICS will instead mail you paper-based notification of the location of the electronically-based shareholder communication and a hard copy Voting Instruction Form. This notification will also request that you to re-enroll in the ICS website if you wish to continue to participate in the electronic delivery program. If you do not re-enroll in the service, you will receive all future shareholder communications through the traditional mail.

  7. The PDT or any trader for that matter should be able to register with that company that does the proxies and opt out from receiving any reports or any reports except a, b, and c.....

    As it is now, it really is a sad waste of paper and doubtless a big expense to the companies themselves.
  8. I don't think it's a certain amount of time, it's just a certain date on which they determine who gets one and who doesn't.
  9. What if you short SPY? Then you will have to write 500 reports and mail them to IB!
  10. I have been with IB for 3 years now and have never rec'd an annual report for any of my stock holdings, and yes they have my correct address. Is it possible you can elect not to receive them when you originally apply for an account?:D
    #10     Apr 18, 2003