Failure To Deliver. this is such a common occurrence the SEC posts fails twice monthly.
![[Untitled 5 4.jpg]] https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data
FTD is not a new phenomenon. ![[Untitled 4 50.jpg]] https://www.bbh.com/us/en/bbh-who-we-are/our-story/200-years-of-partnership/the-paperwork-crisis.html
FTD could mess with voting rights of entitlement holders.
![[Untitled 4 76.jpg]] https://www.sec.gov/spotlight/proxyprocess/proxyvotingbrief.htm#:~:text=What%20is%20the%20procedure%20by,VIFs