A reply from Etrade to an email I sent objecting to the ban on online buying of VRUS by Etrade. FYI...
I would recommend shareholders continue to object and flood this guys inbox.
“Dear Mr. xxxx
Your email of August 19, 2019 has been forwarded to me for a response.
From time to time and for the protection of its customers, E*TRADE Securities LLC may at its own discretion require that customer orders in a particular security be placed telephonically or in person. This measure allows E*TRADE to verify that the order is legitimate and further enhances E*TRADE’s ability to protect its customers from identity theft or other malfeasance. These are both legitimate functions, and they are consistent with E*TRADE’s regulatory responsibilities to know its customers.
While we certainly understand your willingness to have unfettered electronic trading in your company’s shares, E*TRADE’s added security measures are in no way inconsistent with law or regulation. Indeed, there is no statute or other regulation which mandates electronic trading in a particular security. Many full service broker-dealers even today conduct a majority of their business by telephone or in person.
For these reasons, E*TRADE must respectfully decline the request to lift the trading restrictions on VRUS. Although we would be open to any information you have that would be useful in our decision-making, our primary concern is to ensure the safety and integrity of our customers’ transactions.
Sincerely,
Amos Mayne
Corporate Support Manager
E*TRADE Securities LLC
220 West Civic Center Drive
Sandy, UT 84070-4207
1-800-355-8888 ext. 303-2762
This communication is the property of E*TRADE Financial Corporation and its affiliates and does not constitute an offer to sell or the solicitation of an offer to buy any security. It is intended only for the person to whom it is addressed and may contain information that is privileged, confidential, or otherwise protected from disclosure. Distribution or copying of this communication, or the information contained herein, by anyone other than the intended recipient is prohibited. If you have received this communication in error, please immediately notify the sender at amos.mayne@etrade.com or at 1-800-355-8888 ext. 303-2762, and delete and destroy any copies hereof.
Registered with E*TRADE Securities LLC, Member FINRA/SIPC”
AI
