So, at the end of the day, it is really not FINRA that is preventing broker dealers from accepting your OTCBB shares, it is the perceived fear that has been instilled into the firms themselves. The larger online firms want to steer clear of anything that could attract the wrath of FINRA and you [...]

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I started contacting some SEC attorneys and did receive the following email back from one attorney that is recognized in this arena. Here is the email:
Ralph, after our phone call this week I started to ask around. My “sources” tell me that it all relates back to this FINRA Release in January:
http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p117716.pdf
And that [...]

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The story gets better. I reasoned that TDAmeritrade had returned my free trading stock certificate because they did not want the risk of having compliance issues if the stock transfer agent, for some unknown reason, rejected the stock certificate. So I filled out a form to have the same securities transferred from another [...]

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After my conversation with the back office of TDAmeritrade I started calling several other business associates and found out all of them had recently been sent back stock certificates of various OTCBB stocks from the big three online brokerage firms: namely TDAmeritrade, Scottrade and E*Trade. I was told TDAmeritrade trades more OTCBB stocks than [...]

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A strange phenomenon is occurring with investors who are depositing OTCBB stock certificates. Certain online brokerage firms such as TDAmeritrade and Scottrade are returning perfectly legitimate free trading stock certificates back to their clients without any explanation except to say their underwriting department does not want to take the risk associated with the stock. [...]

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