You can stop E*TRADE’s Fully Paid Securities Lending Program for selected securities or unenroll the enrolled account. If shares are already on loan—especially if you need to transfer them—request a recall separately. E*TRADE’s public materials do not document one click path that applies to every account interface, so use the account controls if available or contact E*TRADE for help.
Choose what you want to turn off
| Action | Scope and purpose |
|---|---|
| Opt out a security | Identify a specific security in an enrolled account as unavailable for lending. This is the narrower choice if you want to keep other securities in the program. E*TRADE’s agreement describes this option. |
| Unenroll the account | Stop participation for the enrolled account rather than opting out selected securities. The agreement lists unenrollment as an available action. |
| Terminate the agreement | The agreement also describes terminating the Securities Loan Agreement. Contact E*TRADE if you are unsure which account action applies to your enrollment. |
| Place a participation hold | The agreement describes a hold, but says this option is not available for E*TRADE from Morgan Stanley self-directed accounts. |
How to unenroll or opt out on E*TRADE
- Decide whether you want to opt out specific securities or unenroll the enrolled account.
- Look for the applicable Fully Paid Lending Program controls in your E*TRADE account. E*TRADE’s public program materials explain the available actions but do not provide a single current menu path verified for every interface. If you cannot find the control, contact E*TRADE and ask how to opt out securities or unenroll your account.
- If any shares are already on loan and you need them back, request a recall as a separate step. This is particularly important before transferring shares.
E*TRADE’s program overview says participants can sell shares at any time; selling loaned shares terminates the loan in those securities. A sale does not, by itself, unenroll the account from the program.
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How to recall shares that are already on loan
Contact E*TRADE customer service to request a recall before transferring loaned shares, according to its account FAQ. E*TRADE says shares recalled through opt-out or unenrollment become eligible for transfer after a minimum of two business days. That is an eligibility period, not a promise that the transfer itself will be completed within two business days.
If you are making a partial transfer, E*TRADE says you can opt the relevant security out rather than unenroll the entire account. Confirm the recall and transfer timing with E*TRADE before making plans around the shares.
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What changes when lending is turned off
- Use of loaned shares: E*TRADE says loaned securities may be used to facilitate short sales, which could put downward pressure on their market price. You retain market risk.
- Voting: E*TRADE’s FAQ says participants do not have proxy voting rights for shares while they are on loan.
- Dividends and taxes: If shares are on loan over a distribution date, you may receive a payment in lieu of a dividend. E*TRADE warns that substitute payments may have different tax consequences from qualified dividends; consult a tax professional about your circumstances.
- Custody and protection: E*TRADE says cash collateral is provided, but loaned securities are not held in your account and are not protected by SIPC. Its disclosures caution that collateral may be the only source of satisfaction if E*TRADE defaults or becomes insolvent. Any FDIC protection for deposits is subject to coverage limits and aggregation rules; it is not SIPC coverage for the loaned shares.
Why E*TRADE’s lending controls can sound contradictory
E*TRADE’s FAQ says participants cannot select which securities to lend once enrolled, while its agreement says customers can identify specific securities they do not want lent. These statements address different choices: you may not choose a list of securities to lend, but the agreement provides a way to mark securities unavailable for lending.
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