1) FINRA has been beaten down before by owners of Alpine ( See Finra v Scottsdale).. and a Fed court is currently questioning their constitutionality.(stay order) they actually had to expunge the SCA case after initially expelling three members
2) Alps has made a one side market for 12 years, where have you been? They are a known liquidator...you just discovered this?
3) Alpine ONLY does OTC market stocks... i know for a fact they couldn't figure out how to enter a NYSE buy order... they also do not send checks, wire s only..you didn't know?
4) The GTII shares were and are NEVER short just like every other OTC stock... EVERY clearing firm has this policy. Stock must be cleared 100% at DTC before you can even sell it.
5) Alpine did NOT miss SEC net cap ...you are wrong and misinformed. You have clearly never worked in the industry so i will try to explain. The ACTUAL net capital required by SEC for a clearing firm is (drum roll please)...$250k... to be a member of DTC/NSCC they had required $1 million in excess of your net capital. that # has steadily changed over the years and in late 2022 they changed that to "EXCESS net capital" of $10 million. (with me Einstein?) they fell below DTCs standard. its a private matter. DTC has now said "you are no longer welcomed to the club" that's all. Alps tried to claim they are only a retail self clearing firm ($ 5 million requirement above net cap) but DTC isn't buying it. They do not clear for anyone else. SCA is a shell bd at this point. Previous to that, SCA has been their only correspondent for 6 years.
6) As for who runs things? FINRA has ZERO influence on DTC/NSCC...anything to the contrary tells me you are either a fool or a 23 year old in your parents basement. Anyone who has worked in the industry knows that DTC has been taking out the OTC markets because they don't want these sh#t stocks, re-orgs, reverses, sub pennies and physicals... they want trading on an ATS or by Black rock where 10k trades come in per minute from around the world, they match buyer and seller hit a button and bill everyone on either side with nice clean stock. You really think they want GTII out there doing 'stock dividends on a 30 cent stock"? LOL... grow up already. How many more times are you going to come at me nastily instead of saying " I had no idea, thank you" ??? By the way, kramers have an account at amost every single firm that clears otc...wouldn't you? so do all the other players. grow up already
