Forgot to add: they won't clear anything trading for less than ten cents.
PFSI will no longer accept deposits of equity securities traded on the Pink Sheet or OTC Bulletin Board markets priced below $0.10, to include but not limited to, utilizing the following methods of deposit:
1. Any form of Physical Certificate Deposit a. Through the Penson SPS application (Securities Processing System) b. Through the Transit System (TNST) c. Via Mail 2. DWAC (Deposit/Withdrawal at Custodian) 3. DRS (Direct Registration Service) 4. ACAT Transfer of Restricted Stock -although, we will continue to accept deposits of certain low priced securities without any restrictive legend via ACAT, we reserve the right to reject any account that has a concentration of low priced securities (Penny Stocks).
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