Bancorp International Group Inc (fka BCIT)

[janice shell]

That isn't clear to me. Yes, if you report to your state securities division, they'll talk to the SEC about it.

And although you won't like this, what the SEC would have reported back was that it was an impossible situation, the fault of many people (including themselves, though probably they didn't add that). Then they'd have explained that they'd suspended net capital requirements for the brokerages and so resolved the problem, as they'd done before with GVRP.

That argument would have made sense to your state securities division. The SEC is the ultimate authority.