Need help to find out if, by law, in order to operate as a broker with USA stocks you MUST allow share transfer.

EDIT BELOW with upadtes.

Hi there.

This is an Spanish Ape. I bought my first XXX shared with Etoro before finding out that they allow NO transfer thous no possibility to DRS.

I received a surprising phone call from my  Etoro's "Personal Advisor". He wanted to know how happy I was about Etoro. I was quite polite but told him all things you already know. Now is when things become really interesting. He told me, and this is a personal translation and not the exact words but mostly the exact meaning:

"Would you change your mind about us if I would tell you that we are working to change several things like, for example, allowing transfer, because WE, AS A BROKER, NEED TO ALLOW TRANSFER IN ORDER TO COMPLY WITH USA LAW".

And I was like: " The Fuuuck?!"

The thing is that I've been trying to find out if this is true or if he was just trying to keep me "happy".

I've found lots of related info but nothing conclusive. English is not my mother language and my lack of knowledge In this field doesn't help. Everything sounds a mess to me: Private or Public company, Board, Retailer, Broker, .....

So,.is there any Ape out there with deep knowledge in this topic that could possibly confirm or debunk this?

If it would be true that Etoro, to comply with USA laws, must allow transfer, that would be Great News and we, customers, could add lots of pressure on them.

Thank you in advanced!

Edit: grammar

Edit 17th Jan:

Hi there. First of all, thank you all for your reply. I'd kindly ask to keep the debate about Etoro's good/bad practice low as this is not the porpouse of this post.

About the main topic. Most people, and I tende to agree, think that they where just trying to keep me calm and "sweet". But they could bereally thinking about expansion.

https://www.reddit.com/r/Superstonk/comments/s5l4up/comment/hsz88a0/?utm_source=share&utm_medium=web2x&context=3

First doubt that has appeared: Is Etoro really acting as a Broker in USA?

Data supporting Not https://www.reddit.com/r/Superstonk/comments/s5l4up/comment/hszoixg/?utm_source=share&utm_medium=web2x&context=3

Data supporting they are https://www.reddit.com/r/Superstonk/comments/s5l4up/comment/hszoixg/?utm_source=share&utm_medium=web2x&context=3


The link to the Legal rules regarding "Share transfer" are posted here: https://www.reddit.com/r/Superstonk/comments/s5l4up/comment/hsy9qpb/?utm_source=share&utm_medium=web2x&context=3

But It it most

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APES sorry for bringing this up, Did I just caught Etoro lying? any apes with a career in EU law that can confirm if Etoro has the right and can operate as an investment platform without giving its investors the possibility to transfer shares?

Ok, apes I also contacted Etoro about this bull shit issue, and it left me with even more questions.

If someone has a career in Legal/Law in the EU I would like to know your opinion on this (question at the end of the comment)

I know about the AMA with the CEO and what they said but....

THE QUESTION I SENT THEM

***Hello, as I understand Etoro does not allow transfers to other brokerages.

I have bought shares on your platform and I would like to know why don't you issue a certificate in my name? Who owns my shares? are they even real? Also, Who Holds them?***

THE RESPONSE I GOT FROM ETORO

***Thank you for contacting eToro customer service.

When you open a non-leveraged BUY (long) position on a stock, you are investing in the underlying asset, and the stock is purchased in your name. This also applies to fractional shares.

The eToro investment platform is not an exchange or a market. This means that you can BUY or SELL stocks within the eToro investment platform, but it is not possible to move open positions out of your eToro account to another broker or to another person. You can, however, close positions and withdraw your funds should you choose to. If you open a stock position on the eToro investment platform, eToro will hold the stocks on your behalf in a segregated omnibus account. Should the company issue dividends, your balance will be updated in accordance with your holdings. However, at the moment, you cannot use the allocated voting rights.***

So my question is, WTF kind of company are they, Degrio is an investment platform, Fidelity is, IBKR is, non of them are exchanges or markets YET THEY ALLOW TRANSFERS how come ETORO cant allow them???

By them saying ***The eToro investment platform is not an exchange or a market. This means that you can BUY or SELL stocks within the eToro investment platform*** like if etoro is an autonomous stock market and you can only buy and sell on that market. They are automatically calling themselves a market *within eToro*

This shit makes NONE, 0, NO sense!!!

How can the EUROPEAN UNION regulators allow such bs, I buy with CASH, they buy in my name yet I don't own the shares WHAT????

ARE THEY LYING OR I ACTUALLY CANT TRANSFER?

I also caught another lie, my email was sent after voting on 6/9 sooo...

THEY say ***However, at the moment, you cannot use the allocated voting rights*** how come I voted for GME???

They made the vote happen, I am sure they also can make the transfer h

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Are there any difference on how T.J. Maxx and Marshalls operates? I’m looking to transfer stores.

I’m going to be moving soon, and at my new place there is a Marshalls 10 minutes away, while the nearest TJ is almost 45 minutes.

I know we can transfer between chains as TJX associates, but I was wondering if TJ/Marshalls operates the same way or if there’s any notable differences?

Since they’re sister stores/chains, I assume almost all the knowledge I’ve gathered at TJ is pretty much applicable to Marshalls.

Any advice would be appreciated.

Thanks.

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What is the best way to operate a Inductive Wireless Power Transfer system?

Hi,

I built a 555 timer on a breadboard as shown in the picture below.

https://preview.redd.it/ffnszwinoo271.jpg?width=3480&format=pjpg&auto=webp&s=51ebe17aa9188673079469f2c033d2e071722e5d

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NEWS : PyroGenesis Signs Joint-Venture Agreement to Build and Operate Plants to Convert Aluminum Dross Residues into High Value Chemical Products

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“This is a very interesting addition to PyroGenesis’ offerings as it fits perfectly into PyroGenesis’ existing portfolio of waste management services offered to the aluminum industry, at a time when aluminum prices are making our core technology even more valuable. This JV not only solidifies our Drosrite™ offering, but it is also able to address a downstream problem that is increasingly plaguing the industry; namely, how to handle dross residues which are becoming more and more regulated and banned from landfills,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “This is the ultimate coffee & donut strategy where, with very little additional effort, we are able to sell, alongside Drosrite™, a separate compelling green solution, which also further secures Drosrite™’s commercial competitiveness.”

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