i would think if someone was not on the list, there could be grounds for a lawsuit..........but you know damn well, as soon as a suit if filed, they would promptly be listed......
at SOME POINT............SOMEONE is gonna sue em anyway!.......whoever has a couple of bucks and a steel set of balls.....
The DTCC system was never set up for shareholders, it was strictly set up for participants and so the level of transparency is not recognizable for the everyday shareholders, especially the everyday OTC shareholder.
Like I said the other day if it is not written in crayon it is all Greek and allows for poor interpretation of what is actually going on. I am certain they were not expecting a flood of shareholders coming at them demanding answers to what is happening. I expect push back to the Brokers to start posting lists like Penson as to what securities are not DTCC eligible. The DTCC has only ever dealt with it’s participants when conducting business and as you said opened a can of worms with their actions recently.
There seems to be a fault in the Notice system also, Reorganizations Name and symbol changes are causing what appear to be DTCC eligible stock, the previous Notices are not following them around in the DTCC database. A good example is CNUV China Nuvo Solar Energy for example was chilled on the 9th of December:
So this is causing issues because the participants need no notification as to the change as the stock is still showing in their system as CHILLED. But because the everyday shareholder cannot see the current status it is causing frustration. Then throw in the fact that each Self Clearing brokerage has their own LISTS. Penson has several stocks down as NON DTCC ELIGIBLE, that is what they titled their list and as such it causes even more frustration.
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