Replies to post #102848 on DD Support Board and Research Team

[-Awaken-]

When did E*Trade ever take certs for OTC stocks? Never (to my knowledge). Have to work with some shady group like Scottsdale or Alpine or anyone willing to put their business on the line for the sake of a couple dollars, I've never known E*Trade to be apart of that group

[janice shell]

They stopped taking them as a result of the CMKX cert pull. That drove them crazy.

Nobody wants to deal in certs except for a very few people obsessed with NSS. The SEC, FINRA, and DTCC would like to see complete dematerialization. Many exchange-listed companies have obliged, and no longer use certificates. But as far as I know, no--or at least very few--OTC issuers have taken that course.

I was actually wrong in what I said earlier: Xena reported that she'd tried to DWAC the stock to another brokerage. But that's in a way the same thing.

It might be helpful if we knew what stock she was talking about.

[integral]

locks/chills/dubious securities. Many firms don't want otc stock deposits. Almost none take paper certs anymore, DWAC or nothing at all. They are tired of the liabilities that come with them. Holds, freezes, lawsuits, unregistered securities, fraudulent opinion letter. When the clearing firm is not perfect in vetting the stock, fines, nothing like fines from FINRA, legal fees, etc.

All so they can collect a couple hundred dollars from a stinky pinky.

[BingBing90]

It's not news this happened a while back.