News Focus
News Focus
Followers 446
Posts 63590
Boards Moderated 1
Alias Born 04/26/2007

Re: AlanC post# 14556

Monday, 09/23/2013 7:32:37 PM

Monday, September 23, 2013 7:32:37 PM

Post# of 20257
FFGO - Journalists and Juris Doctorates focused so intently on assisting market makers, broker-dealers, and other counter parties in convincing investors to take tax write-offs is astounding! All one has to do is read the news, those doing so are being caught and held accountable. A simple call into one's broker will receive what side of the trade they are making the most money off of.

Interesting to find out that one ex-Penson retail broker attempted to remove shares from shareholders' accounts for securities that were valued at less than $0.01. After a letter to FINRA and to the SEC, this broker reversed its policy. They clearly were aware that removal, without written approval from the shareholder was illegal.

Fast forward a few months later....

The broker's new clearing firm illegally removed said shares from the shareholder's accounts without their approval.

The clearing firm should have no concern with holdings in a retail investor's account. There is nothing theoretically to clear, since all of those shares should have been delivered and cleared with the previous clearing firm.

How many FFGO shares still have not cleared or have never been intended to be delivered?

Each day that goes by, there is stronger and stronger evidence of a growing problem for those parties.

Tic Toc

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today