Questions & Answers

What is the Trinidad and Tobago Stock Exchange (TTSE)?

The TTSE is the nation's centralized market place for the buying and selling of shares or stocks and other securities. The TTSE was established under the provisions of the Securities Industry Act 1981, which was later repealed and replaced by the Securities Industry Act 1995, and thereafter by the Securities Act, Chap. 83:02. Click to read more on the (TTSE).

What is the Trinidad and Tobago Central Depositary (TTCD)?

The TTCD is a company established by the Trinidad and Tobago Stock Exchange Limited to enable investors buying and selling securities on the Exchange to settle such transactions through a computerized book entry system. The TTCD allows investors to deposit their shares represented by physical certificates through a stockbroker for safe keeping. Click to read more on the (TTCD).

How can I replace my lost Royal Bank of Canada (RY) share certificate?

If your share certificate is lost, stolen, destroyed, you will need to contact RBC's transfer agent Computershare Trust Company of Canada (Computer Share) as soon as possible. Computer Share will provide the necessary documentation for a replacement certificate or Direct Registration System (DRS). It should be noted that you will be required to pay an indemnity bond premium equal to 3% of the market value of your shares represented by the lost certificate.

Computershare Trust Company of Canada
100 University Ave, 8th Floor,
Toronto ON, M5J2Y1
Phone: 514-982-7888 or 1-866-586-7635
Email: service@computershare.com
Website: www.computershare.com

How can I obtain my Royal Bank of Canada (RBC) share certificate if I did not receive it from RBC Trust Company (Trinidad and Tobago) Limited?

You will need to contact RBC's transfer agent Computershare Trust Company of Canada (Computer Share) as soon as possible. Computer Share will guide your with respect to obtaining the Share Certificate of Direct Registration System (DRS) and outstanding dividend payments.

Computershare Trust Company of Canada
100 University Ave, 8th Floor,
Toronto ON, M5J2Y1
Phone: 514-982-7888 or 1-866-586-7635
Email: service@computershare.com
Website: www.computershare.com

If I have Royal Bank of Canada (RBC) shares in Certificate form or Direct Registration System (DRS), how can I sell them?

WISE can sell your RBC shares for you, the following is required:

Original share certificate or a recent DRS statement
2 valid Government issued IDs
Proof of address (copy of utility bill)
Completion of WISE’s relevant forms
Please note a fee of US$50.00 + 0.75% on the value of the transaction is applicable

Can I deposit my Royal Bank of Canada (RBC) share certificate into my brokerage account?

You can deposit your RBC shares into an International brokerage account. WISE is an Introducing Broker Dealer (IBD) for Pershing LLC and the shares can be deposited to a Pershing brokerage account. Clients must however, satisfy the requirement to open such accounts. Please refer to our Open a WISE Account page for the details and requirements to open an International Trading account

How can I replace my lost local share certificate?

You need to contact the relevant Company Registrar of the listed company. The Company Registrar will prepare the relevant Indemnity for Lost Certificate and provide information relative to executing the indemnity and advertising the lost share certificate in the daily newspaper if required. Upon completion of this exercise, a new certificate will be issued.

How do I sell my local share certificate?

You need to deposit the relevant share certificate to your brokerage account. Upon completion of the deposit you can provide appropriate instructions to your broker to sell the shares. If you do not have a brokerage account, you need to contact a broker to arrange the opening of a brokerage account. The following should be noted:

A share certificate can only be deposited into a brokerage account that matches the name on the certificate. For example, a share certificate in the name of John Doe can only be deposited into brokerage account in the name of John Doe, it cannot be deposited into an account in the Jane Doe.
A certificate in a single name cannot be deposited into a brokerage account in joint names, for example a certificate in the name of John Doe cannot be deposited into a brokerage account in the joint names of John Doe and Jane Doe.
A certificate in joint names cannot be deposited into a brokerage account in a single name.

How do I deposit my local share certificate into a brokerage account?

You need to present the following to your broker:

Original share certificate
2 forms of valid Government issued Ids
The TTCD fee of $35.00 per equity and
Execute the relevant transfer form.

How does a Legal Personal Representative (LPR) or beneficiary sell or transfer shares of a decease client?

Please contact your broker once you have the following documents listed below:

Original Court Appointment or Grant of Probate (*Note: if a grant of probate is granted outside of Trinidad & Tobago, it must be registered in Trinidad & Tobago before it can be used
Original death certificate
Physical security certificate, if not already deposited in a brokerage or WISE account
Two forms of valid identification for the (LPR)
Transfer Certificate Affidavit executed by the beneficiary in the presence of a Notary Public (*Note: this is only required for the transferring of international securities.

What are the requirements for a Put-Through transaction?

A put-through transaction can only be facilitated for members of the immediate family of the client making the request. For example spouse, parent, grandparent, brother, sister, children including stepchildren and the spouses of those persons. The following items are required:

Two forms of government issued identification for the transferor(s) and transferee(s)
Documents supporting the proof of relationship between the transferor and transferee
Copy of TTCD Statement for the account which securities / shares are being transferred to (if the client is a non WISE client)

What are the fees associated for a Put-Through transaction?

It should be noted that there are two sides to a Put -Through Transaction, the first is a “Sell” from the Transferors account and the second is a “Buy” on the transferees account. There are 3 sets of fees associated with a Put- Through transaction:

$100.00 fee for the Trinidad and Tobago Stock Exchange (TTSE) to review the documents submitted for the application
A Trinidad and Tobago Central Depository Limited (TTCD) transaction fee of 0.21% on the consideration is applicable on both the “Sell” and the “Buy” and
A commission of 0.50% is charged on the consideration on each side of the transaction (Sell and Buy) by West Indies Stockbrokers Limited (WISE) subject to a minimum fee of TT$50.00. Please noted the commission rate of 0.50% is applicable to clients of WISE, if the transferee’s or transferor’s account is held at another brokerage firm, then the commission will be subject to the external’s broker commission rate.

Can I make my account joint or add another name to my existing account?

You cannot add a name(s) to an existing account nor can you add another name of an existing joint account. However, you can open a joint account in the desired names and request a Put-Through, which will be subject to the fees for a Put-Through and the rules of a Put-Through transaction (A put-through transaction can only be facilitated for members of the immediate family of the client making the request. For example spouse, parent, grandparent, brother, sister, children including stepchildren and the spouses of those persons).

Disclaimer

This information has been provided by West Indies Stockbrokers Limited (‘WISE’) and is for informational purposes only. It is not intended to provide investment, financial or other advice and such information should not be relied upon for providing such advice. WISE takes reasonable steps to provide up-to-date, accurate and reliable information, and believes the information to be so when printed. Any investment and economic outlook information contained in this article has been compiled by WISE from various sources. Information obtained from third parties is believed to be reliable, but no representation or warranty, express or implied, is made by WISE, its affiliates or any other person as to its accuracy, completeness or correctness. WISE and its affiliates assume no responsibility for any errors or omissions. The contents of this article should not be considered an offer to sell to, or a solicitation to buy securities from, any person in Trinidad & Tobago where such offer or solicitation is considered unlawful. When making an investment decision, you should consult with a qualified financial advisor who can provide advice on the suitability of any investment for you based on your investment objectives, investment experience, financial situation and needs, or other relevant information.

WISE forms part of the same financial group as Royal Bank of Canada and is a subsidiary of the Royal Bank of Canada. The Royal Bank of Canada, is the parent company of RBC Financial (Caribbean) Limited which is the parent company and 100% shareholder of WISE. The Royal Bank of Canada, therefore is the ultimate parent company of WISE, and is a related party to WISE as defined under the Securities Act, 2012 and By-Laws.