<p>John A. Germinario, chief executive officer of Global Securities Services Corporation (GSS), discusses depositary receipts and their negative effects on global investor portfolios. Global Securities Services Corporation, <a class="link" rel="nofollow" target="_blank" href="http://www.gssintl.com/Newsletter.html" target="_blank">“The Depositary Receipt Watchdog,”</a> so far has published two newsletters in 2013 claiming depositary banks have used U.S. taxpayer funds to buy depositary receipt programs. </p><p> </p>
