Replies to post #83269 on Sino Agro Food Inc (fka SIAF)

[NewJerichoMan]

Does this affect only the US OTC or does it affect FN as well?

[Traderfan]

Yep I agree. And that's why they did do that RS so fast a few month ago. Because first as you say the 1 dollar issue suddenly came up here and now maybe some of these entities go one step further.

[RealDutch]

Yes, but from what I heard this is specifically related to IPS (pension) accounts at Nordnet. IOW, it is illegal to own OTC stocks in pension accounts (by Swedish law).
So we are probably talking about 2 different issues here.

[janrick]

got the same information from HSBC HK that I use (below) , talked to them though, and was informed I can keep them there, but they will not buy any more and that service level when selling could be affected..does not feel good, I am looking into ways to transfer them..
Or Solomon could get us out from OTC..

Dear Customer

Due to increased scrutiny and attention on low priced US securities traded in the over-the-counter markets from regulators of the United States (“US”), HSBC Broking will not be offering support (including trading and custodian services) for non-exchange listed US securities effective 17 Jan 2015. Support for US securities listed on NYSE (NYSE Equities Market), NASDAQ and AMEX (NYSE Amex Equities Market) will not be effected.
We have reviewed your existing US securities holdings with us. Kindly note that the holdings below are non-exchange listed and we would like to draw your attention to make appropriate arrangements:

Name of security Stock code
SINO AGRO FOOD INC SIAF.OB

Should you wish to sell the above securities provided that they are tradable, or transfer them to another broker, please feel free to contact your account Executive on or before 16 Jan 2015
Yours faithfully

HSBC Broking Securities (Asia) Limited