Replies to post #67191 on Strategic Asset Leasing Inc (fka LEAS)

[ibuprofen2012]

Im wondering if there are potential investors sitting this one out due to the zecco/penson issue. At 6.95 flat fee for a penny stock trade that was a great commission. Most other brokers charge commission plus some kind of percentage fee for penny stocks. As an example sharebuilder charges 15% on top of commission or $.007 per stock which ever is lower( this is higher than what mmte trades for).Sharebuilder is the one the rips the penny trader off the most, but we have to admit zecco was a popular venue for the average penny stock trader.

[Chroma-Z]

The change in brokers was successful - there is a $70 fee that I owe Fidelity now (instead of Zecco) but the transfer from Zecco to Fidelity is complete.

From the research I have done and the people I have talked to this appears to be strictly a Penson issue - not Zecco, not a cheap broker issue, but a Penson issue. I would highly encourage those interested to read about Penson and to read the NSS page that jmbar2 posted the information to. There are some helpful people there and there are some very beneficial posts there.

Yes - at one point I thought this was a larger issue, I thought others were going to be included but it all turned out to be a Penson scare tactic.

[BradSmith319]

From all the information I have gathered regarding this issue, it appears it will be widespread at some point. I was not able to directly talk to a SEC compliance officer regarding the issue but I did talk directly with a Penson Representative. Her take on the situation is that other clearing firms will follow suite shortly unless MMTE does whatever they have to do to clear the issue. She stated that the reason other firms have not started enforcing this issue is largely due to the fact that MMTE is a pink listed company and therefore mostly flying under the radar. Hopefully this issue is cleared soon.


Brad