Here are ATURDS reasons....
Mr. XXXXX,
As Gini stated, we can not give specific reasons for this restriction.
Some of the reasons a stock may be restricted to Closing Transactions only include:
-Corporate Actions in which a lack of information, confusing terms, or unclear objectives may be involved. All corporate actions should be transparent as to objectives.
-Apparent or possible fraudulent activity by a company or it's officers, with potentially manipulative actions to affect a stock price.
-Frequent unsubstantiated press releases in an attempt to affect the stock's price.
-Deceptive or contradictory statements regarding past or projected performance.
-Corporate Identity Theft
-Valid companies associated with 3rd parties (i.e. transfer agents, consultants, etc) that have shown a predisposition to any of the above activities.
-Companies known or suspected to be involved in -Money Laundering activity
Some of the criteria NOT used to make this decision include:
Stock price of this security
Positions of our clients and the firm
Thank you,
Sean P.
Apex Client Services, TD AMERITRADE
Division of TD AMERITRADE, Inc.
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