There are also legal ways they can sell your shares without your consent:
Yes, brokers like Fidelity can sell your shares without your explicit consent under certain circumstances. One common situation where this might occur is if you have a margin account and you fail to meet margin requirements or repay a margin loan. In such cases, the broker may have the right to sell your securities to cover the shortfall.
Additionally, if you hold securities in a cash account and you fail to settle a trade or meet other obligations, the broker may have the authority to sell your securities to cover those obligations.
The only way to be secure is to DRS your shares. I still hold some in my brokerage account though, just in case.
We can't prevent them from committing crimes.
There are also legal ways they can sell your shares without your consent:
The only way to be secure is to DRS your shares. I still hold some in my brokerage account though, just in case.