"What's interesting is no one here has said their account shows the 205 CUSIP. Without accounts flagged or forensic analysis done on past trading, I don't see how the company can adequately distinguish NOBOs who hold real stock vs fake. The remaining FTDs may be a result of normal market making and created from additional fake certs deposited." Exactly. This will put the brokers between a rock and a hard place. Either they say you have real shares, you can trade! Or they can say we sold you fake shares - sue me! They would lose that one...I don't think it will come to that. Every broker will see this differently. Some will see it as an opportunity to put the screws to their competitors. We are going to see a mix bag of actions ( or inactions ) IMO.
Actually that is not completely true. Here is Etrade's response to the CUSIP question from back in February...
From: E*TRADE Customer Service Sent: February 15, 2007 3:12 PM ET Subject: General Inquiry Topic: General Inquiry Account: XXXX-XXXX xxxxxxxx Reference Number: XXXXXXXX
Message:
----------------------------------------------------------------------------------------------- Dear xxxxxxxxx, Thank you very much for your correspondence. I just want to confirm with you that the CUSIP number is what you think it should be. That number is US05968X205. If you have any further questions please feel free to give us a call.
I hope this information has been helpful. Please let us know if we've addressed your questions and concerns satisfactorily by taking a 30-second survey at the following web address:
As always, thank you for choosing E*TRADE Financial for your investing, banking and lending needs. We encourage you to continue using the Help Center for any assistance in the future. You are also welcome to call us at 1-888-388-2900 between 7AM and 12AM EST, seven days a week. International customers please dial +1-678-624-6210.
Sincerely, Will Ross Financial Services Representative Power E*TRADE Customer Service E*TRADE Securities LLC Case #: xxxxxxxxxx