TDAmeritrade feels RCCH has been manipulated since April 2007 (.95 cents per share) and put it in writing to me and copied the SEC on it. This hasn't just started at .0001 x .0002. This is a letter I received from TDAmeritrade in response after I filed a complaint with the SEC that TDA would not allow on line buying. After this letter TDA did allow on line buying for a short period of time but have now gone back to call in orders only. TDA said RCCH was the target of stock manipulation since April 16, 2007 (when it was .95 cents). It appears to me that TDA is watching their butts and they can honestly say that all buys of RCCH were verified as to it being our clients buying shares so they can ask the MM's where are the clean certs when covering starts.
TDAmeritrade
4211 South 102nd Street
Omaha, NE 68127
April 18, 2008
Mr. XXXXXX
XXX XXXX XXXX
XXXXXX, XX XXXXX
RE: SEC File# HO1272681
TD AMERITRADE: Account number ending XXXX
TDA# 45061
Dear Mr. XXXXXX:
This letter is in response to your correspondence dated April 9, 2008, which has been forwarded on by the SEC, regarding your account held at TD AMERITRADE.
Please note that TD AMERITRADE is currently allowing our clients to place opening transactions for RCC Holdings Corp (RCCH) on our Web site. TD AMERITRADE previously made a business decision to manually review opening transactions in RCCH on April 16, 2007, as RCCH was identified as a target of stock manipulation at our firm. After thoroughly reviewing the matter TD AMERITRADE has made a business decision to now allow out clients to place opening transactions in RCCH on our Web site.
In the ordinary course of business, there are systems and processes we implement to protect client assets, including regularly monitoring trading patterns to identify questionable or possible illegal activity. As similarly seen in many other firms, certain securities, particularly Pink Sheet and Bulletin Boards, are more vulnerable than others to manipulative trading activity. In some cases, we have found that brokerage accounts are illegally accessed, and unauthorized trades are placed in specific securities from within those accounts. Please understand that clients are still able to place opening transactions through a broker at the web commission rate if TD AMERITRADE is manually reviewing opening transactions on a security. Clients may also place closing transactions on our Web site for securities that we choose to manually review opening transactions.
Please understand that we may choose to manually review opening transactions in RCCH in the future if we strongly believe it's in the best interests of our clients, our firm, and our industry.
Sincerely,
Joseph E. Belek
Client and Regulatory Relations Analyst
Corporate Compliance
TD AMERITRADE , Division of TD AMERITRADE, Inc.
Member FINRA/SIPC
Enclosures
CC: David B. Powers
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-0213
AI
