Zecco is a SCAM

[Frank0051]

There are actuall a couple other clearing houses. Basically, the SEC wants to cut back on unregistered securities trade. They looked at the largest clearing houses for unregistered securities, and Penson was by-far the largest. So, DTCC, FINRA, and the SEC leaned on Penson and one or two others. The reason is simple: they waste a shit load of time, money, and energy dealing with customers that claimed they were scammed by shell companies, but there isn't much the SEC can do because they were trading as fly-by-night unregistered companies.

There are minutes of an SEC conference available somewhere that talks about this.

Also, it will be interesting to see how the liberalization of registration requirements under the new JOBS Act (or whatever it is called) will change any of this enforcement push.