August 13th is the date TDAmeritrade stops filling buy orders for most of the triple zero, double 00s we trade, FTEG is one of the comparative very few that they will continue to take buy orders because they're Pink Current, unlike most all of the rest. Thus maybe next week and some of the week after (perhaps) we could be dealing with .0002s, after that, well how many triple zero pink current stocks with a following are there? Less than 10 I think. Again TDAmeritrade won't take buy orders for hundreds of other microcaps starting August 13th!! (Assuming TDAmeritrade doesn't change their mind.) Are other brokerages following suit? I don't know.
Is FTEG or noteholders going to keep dumping? I wrote them an email today explaining the below notice from TDAmeritrade so if they didn't already know it they should stop selling now and wait for their stock to be more in demand, hopefully by later next week or the week after that, (maybe sooner?)
The notice from TDAmeritrade:
On September 28, 2021, new amendments adopted by the U.S. Securities Exchange Commission (SEC) go into effect to enhance investor protection and improve issuer transparency. These amendments restrict the ability of market makers to publish quotations for those companies that have not made required current financial and company information available to regulators and investors.
Ahead of the regulatory enforcement date, we will only accept orders to liquidate positions (i.e. no new buy orders) starting August 13, 2021. After the amendment officially goes into effect on September 28, 2021, it may be more difficult to liquidate these securities. Quoting and market liquidity may also be very limited.
What this means for your account(s).
You are receiving this notification because you currently hold one or more of the impacted securities in your account. We're including the list below but be aware that it may not include all of your impacted securities. There is also a chance that the impacted companies could come into compliance with the regulatory requirements ahead of this date and be removed from the list. For a current list of all securities (which is subject to change), please visit www.tdameritrade.com/retail-en_us/resources/pdf/TDA101550.pdf.
You have multiple options to consider, such as:
Take no action. You are not required to sell these securities; however, starting August 13, 2021 we will restrict these securities to liquidation-only transactions. You may continue to hold them, but you may have difficulty selling them in the future and there is no guarantee as to what their future value will be.
Place trades to liquidate. You may place trades to liquidate these securities now. Due to the uncertainly, we cannot guarantee there will be sufficient liquidity to close your position(s) in the future.
Transfer your positions to another financial institution. Other U.S. financial institutions are also impacted by this amendment so you may have difficulty transferring them out of TD Ameritrade. If you are interested in transferring the assets, please submit any outgoing transfers requests to us. (These transactions may incur fees or commissions, depending on the asset type.)
Have Questions? Need Any Help?
We're here for you. Just reply to this message to write us, or call Client Services at 800-669-3900. We're available 24 hours a day, seven days a week.
Sincerely,
TD Ameritrade Client Service
The Securities and Exchange Commission (SEC) amended Rule 15c2-11 under the Securities Exchange Act of 1934 on September 15, 2020. It regulates how broker-dealers initiate or resume pricing quotations for certain securities traded in the Over-the-Counter (OTC) market.
The list of restricted securities is subject to change at any time. You will be responsible for any trading decisions, including any tax consequences of such trades, and agree that TD Ameritrade will not be liable for any future appreciation of securities that were sold.
OTC Markets Group is a third-party financial market that provides price and liquidity information for over-the-counter traded securities. TD Ameritrade is not liable for the accuracy, errors, or omissions provided by third-party resources.
TD Ameritrade does not provide tax advice. We encourage you to speak with a tax-planning professional about your particular situation
Hey, don't make fun of my girlfriend, at least all she eats is bananas.
What I post, trade or say is only based on my personal opinion at the time of the post. It's not meant to be trading advice. Please only trade based on your own due diligence.
AI
