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Re: Warren Bo Ba Buffett post# 269277

Friday, 06/06/2014 2:18:21 PM

Friday, June 06, 2014 2:18:21 PM

Post# of 312015
Yeah every financial institution has a Compliance department that does exactly that (making sure they are Compliant with any legislation or ongoing investigation). I know that pre-2008 there was never any problem doing an OTC stock. I had good success with uWink and never had a problem. I think I could even do it electronically.

But, since then I have noticed that they are reluctant. It cannot be electronic now. You have to talk with a trader. I think that once I got told that they simply would not trade an OTC stock. There was no reason other than looking out for investor's best interest, and I believe I got told that.

It would not surprise me at all if trading in JBI was disallowed simply because of a past investigation. Or perhaps... only Sell Orders. They can't prevent you from getting out of it.

As a typical function of a Compliance Department, I once traded a stock twice, a Sell outside of my RRSP and a Buy inside. I was simply trying to move it into my RRSP. I got a call about Wash Trading and had to explain myself and answer some questions. I had to laugh, because it was only a thousand shares or so... LOL.

I learned about "transfer-in-kind".. ROFL.