Replies to post #177813 on Fortress Financial Group fka FFGO

[AlanC]

SevenTenEleven: Great news! Go FFGO!!!

[TomSawyer]

FFGO: What do Pension Financial's internal processes have to do with FFGO/NMGL/RENS/Lumb/Ronald, etc?

Not sure many understand the point of your post and how it's related to this company.

[chemical-X]

Done!

[MIKAL]

Nice Info!

When was the document filed? Link?

IMO, other brokers will follow.

Varmit might just be a genious.

FFGO= LIFECHANGER

[Militia Man]

FFGO PERFECT TIMING.. That time of the month.. June and July are funny that way?




FFGO - Put those sell orders in LONGS!

Pension Financial and/or their short selling client are going to be forced to cover immediately!

WILL VARMIT BE CORRECT?!?!?!

Accordingly, effective immediately, PFSI (Pension Financial Services, Inc) one of the largest clearing houses, will impose the following changes to its house requirements:

Opening transactions in non-listed stocks (i.e. Pink and Bulletin Board Stocks) trading below $1 will no longer be permitted.

Closing transactions for existing positions in stocks below $1 will be allowed for liquidations that close open positions.

For any existing short positions, it is necessary to begin to immediately close out such short positions in an orderly, but expeditious manner.

PFSI will no longer accept deposits of sub-penny stock (equity securities priced below $0.01) utilizing the following methods of deposit:

1. Any form of Physical Certificate Deposit

a. Through the Penson SPS application (Securities Processing System)

b. Through the Transit System (TNST)

c. Via Mail

2. DWAC (Deposit/Withdrawal at Custodian)

3. DRS (Direct Registration Service)

4. ACAT Transfer of Restricted Stock (although, we will continue to accept
deposits of sub-penny stocks without any restrictive legend via ACAT)

PFSI recognizes that these new requirements pose certain challenges, however this decision is not negotiable. Our policy to cease processing deposits for these securities is an effort to reduce the exposure to both PFSI as well as its Introducing Broker-Dealers correspondents related to these securities.

Tic Toc!

[Cassandra]

That Pension policy was a hoax. There is a very major change in policy by Penson for low-priced stocks, but what was being circulated yesterday was only part of the notice and was it was modified with bogus information.

This is apparently the actual new Penson policy:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64619627

This shows in blue what was added to to the excerpt.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64619658

There is nothing about closing out any short positions.