By submitting this transfer request, I authorize Gemini Galactic Markets, LLC (“Galactic”) and its clearing firm, Apex Clearing Corporation (“Apex”), to request and receive the assets identified in the instructions I have provided from the delivering financial institution.
Transferability of Assets
I understand that some assets may not be readily transferable, with or without penalties, and may not be transferred within the timeframes generally applicable to account transfers.
An asset may be nontransferable if:
It is a proprietary product of the delivering firm;
It is a third-party product that Galactic or Apex is not able or authorized to receive or hold;
Applicable regulatory limitations prevent Galactic or Apex from receiving it;
It is a bankrupt security that cannot be delivered in the required denomination or quantity and no transfer agent is available to re-register it;
The required denomination cannot be obtained because of applicable law or the terms of the security;
It is a limited partnership interest held in a retail account.
If my transfer includes any nontransferrable assets, I understand that those assets may not be transferred, that I may be required to provide additional instructions, and that other eligible assets may be transferred before the nontransferable assets are resolved.
Transfer Fees
I understand that the delivering firm may charge its own fee to transfer assets out of my account with them (a “transfer-out fee”), which may be charged to my account at the delivering firm or deducted from the assets being transferred. Galactic and Apex are not able to determine the amount of this fee in advance. If my account at the delivering firm does not hold sufficient cash to cover the fee, the delivering firm may reject the transfer, in whole or in part. Apex also performs its own risk validations on incoming transfers, which may affect whether and how a transfer is processed.
Fractional Shares
Any fractional shares in my account will generally be liquidated to cash by the delivering firm prior to transfer, unless the transfer is between accounts held internally at Apex, in which case fractional shares will transfer in-kind. Liquidation of fractional shares may have tax consequences.
Processing of Transfer
I understand that the time required to complete a transfer may vary based on the transfer method, the assets involved, the delivering firm’s response, and other factors outside Galactic’s and Apex’s control, may take longer than expected, and in some cases may be subject to industry-standard timeframes established by FINRA and the National Securities Clearing Corporation. Assets in transit are generally not available for trading, and their market value may change during transfer.
My Existing Account
Unless I have separately instructed the delivering firm, this request does not by itself close my account with the delivering firm.
Dividends and Corporate Actions
Dividends, interest, or other distributions are generally paid to the account that holds the securities on the relevant record date. As a result, distributions and corporate action events relating to securities held at the delivering firm on that date, including those that occur while my transfer is pending or shortly after it completes, may be credit to, or require action in, my account at the delivering firm rather than my Galactic account. I understand that I may need to contact the delivering firm about any such items. Securities in transit may also be unavailable to participate in voluntary corporate actions.
Accuracy of Instructions and Cancellation
I am responsible for the accuracy of the account and asset information I provide in connection with this transfer request, and Galactic and Apex may rely on that information without independent verification. I may request to cancel this transfer before it is completed by contacting Galactic, but I understand cancellation may not be possible once the transfer is in process.
Applicable to Full Transfers Only—Cards and Checks
I affirm that I have destroyed or returned to the delivering firm any credit cards, debit cards, and unused checks issued in connection with the account being transferred.
