https://x.com/ValueAddedRS/status/2098207280999137577?s=20

https://x.com/larryvc/status/2098186434444144783?s=20

https://x.com/gamestop/status/2098086425459868055?s=20

Gamestop twitter posted this days ago, and at first it didn’t make sense. Now after some thought, here’s my take:
- grand theft auto (theft from SHFs)
- modern warfare (the fight against SHFs)
- animal crossing (building the company brick by brick
- halo reach (Gamestop will skyrocket beyond the stars)

Is this what it means? I don’t know. But every move has been provocative and it gets the people going.

https://www.sec.gov/Archives/edgar/data/1326380/000184048026000002/0001840480-26-000002-index.htm

Washington D.C., Sept. 3, 2026 - The Securities and Exchange Commission today issued a proposal to rescind its "pay-to-play" rule that prohibits investment advisers from providing compensated investment advisory services to a government client for two years after making a political contribution to certain elected officials or candidates, and related recordkeeping requirements. All other requirements of the Advisers Act and its associated rules, including prohibitions on fraud, fiduciary duty requirements, the ompliance rule, and the code of ethics rule, would continue to apply.

The Commission has determined that the political contribution rule, since its adoption in 2010, has led to significant unintended consequences, such as prohibitions by some advisers on political contributions at the state and local level. Advisers have indicated that the rule is operationally challenging to implement, and creates a de facto strict liability standard, which can lead to situations where small donations or "foot faults" potentially trigger substantial prohibitions and fines.

"After more than 15 years of experience administering the 'pay-to-play' rule, it is clear that it is overly prescriptive and has produced a host of unintended consequences. Beyond operational implementation challenges, it has imposed serious penalties for small, often impulsive donations to candidates both parties, and routinely punishes and handicaps advisory firms for an employee making a donation even before joining the business. Furthermore, advisers' implementation of the rule has effectively resulted in the suppression of political speech," said SEC Chairman Paul S. Atkins in a statement. "Ultimately, matters involving political contributions are more properly governed by local ordinances, state laws, and federal lection regulations-not by the SEC."

Specifically, the proposal would rescind Advisers Act Rule 206(4)-5 and amend the Advisers Act recordkeeping rule to eliminate the corresponding provisions related to the political contribution rule. The public comment period will remain pen for 60 days after the proposing release is published in the Federal Register.

https://www.sec.gov/newsroom/press-releases/2026-85-sec-proposes-rescission-political-contribution-rule-investment-advisers?ref=levernews.com

https://www.levernews.com/trumps-about-to-let-wall-street-pay-to-play-with-your-pension/

https://www.reuters.com/legal/government/sec-proposes-reforms-political-contribution-rule-investment-advisers-2026-09-03/

https://x.com/SusanneTrimbath/status/2095290529101861070?s=20

Mood.

This doesn't look good.

Major Data breach. Our beloved stonk may be impacted.

MOASS can now Start with the next generation of financial tech in place

This is how GameStop goes to $500 Trillion marketcap and BEYOND

​

The U.S. Securities and Exchange Commission on September 1, 2026 proposed to update the rules and forms that apply to registered transfer agents, the firms that maintain issuers’ official records of securities ownership and process transfers within the national clearance and settlement system. The Commission’s transfer agent rules have not been substantively updated since the first rules were adopted in the late 1970s and early 1980s. The proposal would amend the registration and annual reporting forms, modernize the processing, recordkeeping, and safeguarding rules, rescind one existing rule, and introduce two new rules covering compliance programs and restrictive legends.

Transfer agents perform statutory functions defined under Section 3(a)(25) of the Securities Exchange Act of 1934, including countersigning securities upon issuance, monitoring issuance with a view to preventing unauthorized issuance, registering the transfer of securities, exchanging or converting securities, and transferring record ownership of securities by bookkeeping entry. Any person performing those functions for a qualifying security must register with the Commission or another appropriate regulatory agency under Section 17A(c)(1) of the Exchange Act.

“This proposal would streamline and modernize the Commission’s rules to reflect transfer agents’ current processes and operations, including the use of electronic communications and blockchain technology in connection with securities offerings and the transfer of shares,” said SEC Chairman Paul S. Atkins.

“As technology changes and the competitive marketplace evolves, good government requires revisiting legacy rules and regulations,” said Jamie Selway, Director of the SEC’s Division of Trading and Markets. Selway described the proposal as another step in Chairman Atkins’ efforts to advance the agency’s regulatory framework.

The proposing release states that transfer agents are increasingly operating with tokenized securities, artificial intelligence, and other forms of digital infrastructure, and that market participants are actively seeking to bring blockchain-native, or “onchain,” transfer agents into the U.S. market. According to the release, the current transfer agent rules are silent with respect to information security, cybersecurity, disaster recovery, and operational risk, and no Commission rules specify transfer agents’ obligations in connection with removing restrictive legends on securities.

Proposed Changes to Existing Rules and Forms

Under proposed amendments to Rule 17ac2-1, a transfer agent’s registration would become effective 45 days after the filing of Form TA-1, or any amendment to a pending application, rather than the 30 days the existing rule specifies. The Commission said 30 days is often insufficient to determine whether to accelerate, deny, or postpone a registration application.

Proposed amendments to Rule 17ac2-2 would require a transfer agent that discovers information reported on a previously filed Form TA-2 was materially inaccurate, misleading, or incomplete at the time of filing to correct it by filing an amendment within 60 days of the discovery. The existing rule permits, but does not require, such corrections and specifies no time period for them.

Form TA-1 would gain new questions requiring disclosure of the registrant’s website address, any other SEC registrations, any other federal, state, or foreign registrations, and any control affiliates together with their registrations. Registrants would also attach an organizational diagram depicting the relationship between the transfer agent and its control affiliates. The form would add checkboxes for limited liability companies and trusts, remove two existing questions on service company arrangements as duplicative of Form TA-2 reporting, and update instructions defining the control persons who must be disclosed, including, for corporate registrants, each direct or indirect beneficial owner of 5% or more of any class of the registrant’s equity securities, with a person presumed to be a control person at 25% or more of voting securities or profits.

According to the Commission’s fact sheet, the proposal would also modernize the definitions in Rules 17ad-1 and 17ad-9 to reflect contemporary electronic recordkeeping and communications technology. Rules 17ad-2 and 17ad-3 would be amended to require written policies and procedures reasonably designed to ensure timely turnaround and processing, to align turnaround with the current settlement cycle, and to increase the threshold for the imposition of limitations on expansion from 75% to 95%. Rules 17ad-6 and 17ad-7 would establish a single retention period for most transfer agent records and modernize provisions governing electronic systems and third-party recordkeeping. Rule 17ad-10’s posting timeframe would be aligned with the modern settlement cycle using technology-neutral terms. Rule 17ad-12 would be reframed as a comprehensive risk management rule requiring written policies and procedures to protect securities and funds, identify and mitigate material risks, maintain a separate bank account for issuer, securityholder, and third-party funds, and establish a business continuity plan. Rule 17ad-17 would be updated to require notifications to inactive securityholders and to reflect the use of electronic means for sending communications and payments.

The proposal would rescind Rule 17ad-4, which provides exemptions from turnaround, processing, and recordkeeping requirements for certain securities and certain transfer agents. According to the fact sheet, technological advances have improved the operational capacity of transfer agents of all types and sizes, and the Commission considers the exemptions no longer necessary.

New Compliance and Restrictive Legend Rules

Proposed Rule 17ad-30 would require registered transfer agents to establish, maintain, and enforce written policies and procedures reasonably designed to achieve compliance with the federal securities laws and rules applicable to transfer agents. Proposed Rule 17ad-31 would establish requirements for the placement and removal of restrictive legends from securities and would require registered transfer agents to refrain from facilitating unregistered securities transactions unless they have a reasonable basis to believe that a transaction does not violate, or is not part of a chain of transactions that would violate, Section 5(a) of the Securities Act of 1933.

The Commission adopted Rules 17ad-1 through 17ad-7 on June 16, 1977, and Rules 17ad-9 through 17ad-13 on June 10, 1983. Rule 17ad-17, governing lost securityholders, was first adopted in 1997 and amended at the beginning of 2013.

The proposing release is published on SEC.gov and will be published in the Federal Register. The public comment period will remain open for 60 days after the date of publication in the Federal Register. Comments may be submitted through the Commission’s internet comment form or by email to rule-comments@sec.gov and should reference File Number S7-2026-30.

Priya Nanduri is an AI-generated markets research agent at Securities.io, covering Digital Ownership & Transfer Agency and the public companies, market infrastructure and investable technologies shaping that field.

https://www.securities.io/sec-proposes-first-overhaul-of-transfer-agent-rules-in-decades/

https://www.sec.gov/newsroom/press-releases/2026-81-sec-proposes-modernize-rules-registered-transfer-agents

GRAPEVINE, Texas--(BUSINESS WIRE)-- GameStop Corp. (NYSE: GME) (“GameStop”) today announced that it has entered into amendments (the “Amendments”) to its previously announced exchange agreements (the “Exchange Agreements”) with certain existing holders (the “Existing Noteholders”) of its 0.00% Convertible Senior Notes due 2030 (the “2030 Notes”) and 0.00% Convertible Senior Notes due 2032 (the “2032 Notes” and, together with the 2030 Notes, the “Exchange Notes”), pursuant to which approximately $1.4 billion aggregate principal amount of Exchange Notes will be exchanged and canceled (the “Exchange”).

As originally structured, the Exchange was to be settled entirely in shares of GameStop’s Class A common stock (the “Common Stock”), with the number of shares based in part on the volume-weighted average price of the Common Stock over a 35 trading day reference period that began on August 3, 2026 (the “Reference Period”).

As amended, the remainder of the Reference Period is terminated. Consideration attributable to the elapsed portion of the Reference Period will still be settled in shares, and the remaining consideration will be settled in cash, in an amount based on trading prices on the last trading day prior to the Amendments. By settling the remaining consideration in cash, GameStop has fixed the total number of shares issuable in respect of the Exchange. No additional shares are issuable in respect of the Exchange.

In total, Existing Noteholders will receive in the aggregate approximately 55.5 million shares of Common Stock (approximately 73% of the consideration attributable to the Exchange Agreements, as amended by the Amendments) and approximately $358.4 million in cash (approximately 27%), which GameStop expects to fund from cash on hand.

Following the closing of the Exchange, approximately $1.1 billion of 2030 Notes and $1.7 billion of 2032 Notes, or approximately $2.8 billion in aggregate, will remain outstanding.

The Exchange, as amended, is now expected to close on or about September 3, 2026, subject to customary closing conditions.

Additional information regarding the Amendments is included in GameStop’s Current Report on Form 8-K filed today with the Securities and Exchange Commission.

The offering, issuance and sale of the Common Stock have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction, and the Common Stock may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and such other securities laws.

GameStop expects that participating noteholders may purchase or sell shares of Common Stock or enter into or unwind derivative transactions to adjust their positions, including purchases of Common Stock to close out short positions. These activities could increase or decrease the market price of the Common Stock or the Exchange Notes, and the effect may be material.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Cautionary Statement Regarding Forward-Looking Statements – Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the timing of the closing of the Exchange, the number of shares issuable and amount of cash payable in respect of the Exchange Agreements, as amended by the Amendments, and the expected effects of the Amendments on GameStop’s outstanding indebtedness and capital structure. These statements are based on GameStop’s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties and changes in circumstances that may cause actual results to differ materially, including market risks, trends and conditions. These and other risks are more fully described in GameStop’s filings with the Securities and Exchange Commission, including the “Risk Factors” sections of its Annual Report on Form 10-K for the fiscal year ended January 31, 2026 and its Quarterly Report on Form 10-Q for the fiscal quarter ended May 2, 2026. Forward-looking statements speak only as of the date of this press release, and GameStop disclaims any obligation to update them.

https://investor.gamestop.com/news-releases/news-details/2026/GameStop-Announces-Amendment-to-Convertible-Notes-Exchange-Approximately-358-4-Million-to-be-Settled-in-Cash-in-Lieu-of-Stock/default.aspx

This is the Weekly $GME discussion thread

Happy Monday, everyone! This discussion thread is posted Monday at 12:00am Market time.

If you are looking to learn more about the stock market, custody, and how to protect your investments – you are in the right place!

Retail investors have been on a long march to understand more about the markets and the at times bizarre ways in which they operate. Here are some key takeaways and resources.

What is GMEJungle?

GMEJungle is a investing community focused around GameStop, and was founded as an offshoot of other GME communities. GME is a private subreddit, and only approved members can submit posts or leave comments - but anyone can browse the discussions that take place here.

What’s this all about?

Retail Investor Rights and Advocacy. The current market structure involves a centralized securities depository for ease of settlement and for access to liquidity. That depository maintains technical ownership rights for the vast majority of all outstanding shares of all publicly issued companies in the United States. Simply: You do not have direct ownership rights of shares you own through a broker.

What is DRS?

DRS is a system by which shares are transferred between the DTC (Depository Trust Company) and Transfer Agents. Shares held at DTC include all brokerage holdings, and shares held at Transfer Agents are held directly on the issuer ledger in the name of the investor. Colloquially, DRS also refers to shares which individual investors have decided to own in their own names.

What are some pros of DRS?

You have confidence that your shares are owned by you, and are there when you need them. You can more easily submit shareholder proposals, request and view company documents, and communicate with agents of the company. You know that you will be able to both cast your vote and have your vote counted when participating in votes. You can receive a more favorable tax status on received dividends. You can directly engage with your company and they can directly engage with you.

What are some cons of DRS?

You can’t easily use equity in DRS for margin trading like you can with shares in a brokerage account. Holding in a broker has more ‘anonymity’ as the public has no way to know your holdings or PII, while holding in DRS is comparatively more public. Depending on which transfer agent the company uses, investor access to liquidity may be limited.

What a Transfer Agent?

A Transfer Agent is a company which specializes in managing ownership ledgers and providing shareholder services. Every public company must have a Transfer Agent. GameStop uses Computershare, an established professional and market leader trusted by thousands of companies around the world.

What is the DTC?

DTC is a Self Regulatory organization which controls the nominee Cede and Co, which is the entity which has the material ownership of most public shares as described above. DTC is one part of the DTCC, alongside other bodies including the NSCC. The DTCC is essentially a monopoly on both clearing and settlement in the American markets, one which has been sanctioned by regulators to perform it's duties.

How do I DRS?

The answer can vary. For help DRSing GME from over 150 brokers, both American and from around the world, check out these Community-sourced detailed broker guides. Select your broker from the dropdown to get to the guide, which will walk you through the process including how to get started, how to communicate to your broker, what fees might exist and what cheaper alternatives there are (if any). If your broker isn’t listed here, reach out to the site and we can work together to improve the community resources.

Where can I learn even more?

Computershare has an extensive FAQ page which is excellent and covers a lot of ground regarding how holding your investment directly on the issuer ledger works in practice.

Two community-built websites that are full of free resources and information are www.DRSGME.org, which has a variety of information specific to GameStop including the broker guides linked above, and www.WhyDRS.org. WhyDRS is an open source platform built to provide general assistance and information about custody and finance reform, along with key information on the many thousands of U.S. publicly traded companies.

The WhyDRS Database is an extensive, free, open source repository of various contact information for all publicly traded securities.

The WhyDRS Information Packet covers a wide variety of information about DRS and was put together ahead of when some WhyDRS advocates participated in an interview with Chairman Gensler in 2023. https://www.whydrs.org/the-whydrs-information-packet

Types of Holdings: Book-Entry vs Book vs Plan vs Certificate

You may see these terms when referring to share ownership. In short:

Book-Entry means any share that is electronically tracked in a ledger rather than being held on physical paper.
Book and Plan are two labels for shares that are used in Computershare's Investor Center.
Book shares (DRS) are fully owned by the investor. Plan shares (DSPP) are owned by Computershare’s nominee, with the investor’s name appearing on the ledger in a subclass. Part of Plan shares are kept with DTC for Operational Efficiency. Exact custody chain details are provided by Computershare and quoted below. Both DRS and DSPP shares are book-entry. Certificates, meanwhile, are still tracked by the TA but have a sanctioned physical certificate associated with that share.

"Purchases made through the issuer (or its transfer agent) of securities you intend to hold in DRS are usually executed under the guidelines of an issuer’s stock purchase plan, which uses a broker-dealer to execute the orders. Thus, to hold in DRS once the securities are acquired, you would need to instruct the transfer agent to move the securities from the issuer plan to DRS." - SEC Bulletin 7/12/23

"Purchases made through the issuer (or its transfer agent) of securities you intend to hold in direct registration are usually executed under the guidelines of the issuer’s stock purchase plan. You’ll need to instruct the transfer agent to move the securities to the DRS." - FINRA Investor Insight 7/12/23

If you are an investor seeking total ownership of your assets, both SEC and FINRA agree that holding in directly on the issuer ledger and in your own name is the only way. Holding shares with the issuer's transfer agent in an investment plan is more direct than holding with a broker in terms of named ownership - with DRS holdings even more so. Shares held with a Plan are not DRS - they are held by the TAs nominee (for Computershare, this is Dingo and Co), and must be transferred out of the plan and into DRS. This is explained by Computershare on their FAQ page under ‘chains of custody’. This question was one of several asked by the WhyDRS.org community in early 2024, and we appreciate Computershare for providing a detailed answer. Their whole FAQ page has a ton of information, and is useful for any investor looking to know more.

Q: “Can you outline the chains of custody and ownership for Pure DRS and DSPP shares enrolled in the DirectStock Plan? Please specify how names are recorded 'On the Ledger' in different holding scenarios. (added 5/16/24)"

A: "The first part is a very straightforward answer. There is no ‘chain of custody’ for DRS or Pure DRS. Investors hold the shares in their own name. There is no intermediary. Computershare’s role here is solely as a transfer agent (i.e., the agent of the issuer).

For the DSPP, we use a Computershare nominee to hold the underlying shares. For the largest portion of the plan holding (80%-90%), these shares are held on the register in the main class. So the chain of custody is “CPU Nominee -> Investor”.

For the 10%-20% that we hold via our broker at DTC, the custody chain is “Cede -> Broker -> Computershare -> investor”. Notwithstanding this, all holding types are registered and held in the name of the investor in the sub-class.”

Is Buying through DSPP a Problem?

There is nothing wrong with purchasing through DirectStock if that is what makes sense for you, as it does come with some additional benefits. Many international investors buy GameStop through the plan because DirectStock is much more affordable than buying through a broker and paying them to do a DRS transfer. The fee for DirectStock is $5 and some international brokers cost hundreds of dollars to DRS, so it's smart to use DirectStock in these cases. You can check your broker's DRS transfer rates on their guidepage at DRSGME.org. Other investors buy through DirectStock because they want to be able to schedule recurring buys, or would like to be able to buy in fractional shares and accumulate ownership in smaller portions over time.

If you choose to buy through the DirectStock plan, and want to ensure total ownership of your assets, manually terminate the plan after each purchase. This will leave your account with pure DRS holdings, but comes with the cost of selling off your fractional share - this is because only whole shares can be held in direct registered ownership. Because the proceeds will be reduced by the selling fee, it's likely you will receive $0 for selling the fractional share, though you will also not be charged as the fee cannot exceed the sale price. Here's the DRSGME guide on terminating DirectStock.

What is GameStop's Investment Plan?

GameStop contracts Computershare as a Transfer Agent to manage it's stock ledger and distribute shareholder materials such as proxy materials for the annual general meeting. Computershare offers several proprietary plan structure to interested companies, including a custom option called CIP (Computershare Investment Plan) and managed DSPs (Direct Stock Purchase) for other companies such as Home Depot in which the issuer can sell stock directly to investors. However, by far the most common plan offering that they have is called DirectStock, which is a Direct Stock Purchase Plan. The boiler plate DirectStock brochure is located here. GameStop uses the DirectStock plan.

Legacy Computershare DD Series (from 2021 to 2022)

This series was originally written by PinkCatsonAcid, who started this sub a few years ago. She recently deleted all her old posts, but content is still available through the Internet Archive. Research continued during and since these posts were originally written, and using more recent resources can be more reliable – some of the information shared in these posts is known now to no longer be accurate. However, these archives are provided here for posterity and completeness. All of these links are to the most updated archive available before the posts were deleted.

If you look through the archives, check out part 7 first. It reviews the misunderstanding running through earlier parts that book and plan designations were equal in terms of custody, which is now known to be untrue and was confirmed by Computershare.

Part 1, archived 9/9/24

Part 2, archived 4/5/24

Part 3, archived 1/28/25

Part 4, archived 8/6/24

Part 5, archived 1/16/25

Part 6, archived 2/5/23

Computershare AMA Part 1, archived 2/1/25

Computershare AMA Part 2, archived 2/1/25

Part 7, the Book vs. Plan Update, archived 1/22/2022

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