Health Discovery Corp (HDVY)

[king oil]

yes, that's true. My biggest complaints with this policy are:

a) it allows people at brokerages to dictate the terms of how they pick which stocks to prohibit buying. There is no transparency. They don't publish the criteria and don't publish the list of stocks that are prohibited.

b) they don't seem to apply the criteria equally across stocks. For example, HDVY is prohibited, however other pink sheets with caveat emptor on OTCmarkets are not. When I pointed this out to Fidelity with examples, they replied that 'the criteria is proprietary' which again reinforces the arbitrary nature of this policy.

c) even if you sign the agreement and accept the risks of trading penny stocks, they still don't allow you to purchase the stock. What's the point of signing and agreeing to these forms?

d) Fidelity claimed it was their 'fiduciary responsibility' to prevent buying these stocks. However they certainly would never reimburse an investor who lost any money from these stocks. It's hypocritical.

e) I spoke with FINRA about these policies. They basically said to move to a different broker that does allow trading of these stocks. When I argued that without any regulation, there is no guarantee that after moving to another broker that broker might do the same, effectively making the move a waste of time. They then said 'if you don't like it submit a complaint' on the FINRA website. thanks a lot.

f) allowing selling but not buying effectively has the same impact as shorting. sounds a bit like price manipulation.