scotty trade and other bd's, online traders, are limiting the stocks they clear because the do not have the people in place to clear...
they don't have enough staff to clear trades? who would tell you such a dumb thing?
...fenra has made it the responsibility of the bd's to police their own actions, making them liable...
FINRA has authorized many self regulatory organizations, (SRO) yes, but mot sure what that has to do with them restricting online trades for a specific list of crappy pink and otcbb stocks.
...they don't want the added expense and risk exposure...
If you are saying that their risk management staff is the source of online trading restrictions, I would say you would be correct. But you are never going to get a peep out of them to understand WHY they restrict a specific stock.
...You can clear these thru your regular broker(full commish).
If you are suggesting it's better to find a different broker/dealer to place trades through, sure, go ahead. What one pays for commission probably doesn't have a lot to do with what's going on here.
Look, my point is I have read all kinds of nonsense on iHub about Scottrade in the past 2 weeks or so. Lies, deception, misinformation, wishful thinking, etc, etc.
IMO the root cause is that DTC bulletin that I can't read.
I wish somebody affiliated with a B/D could get that out there in public for everyone to read.... but that's not going to happen for a while, maybe.
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