October 14, 2011
the microcap market has operated very well for years.
now ,however, FIDRA and NATIONAL SECURITIES CLEARING CORP,NSCC,have seen fit to screw up the market because they have added an "illiquidy fee" that must be deposited with NSCC UNTIL THE TRADE SETTLES IF CERTAIN VOLUMN REQUIREENTS ARE TRIGGERED.
CLEARING FIRMS DO NOT WANT TO PUT UP THIS MONEY SO THEY ARE REFUSING TO ACCEPT STOCKS THAT TRADE UNDER 10 CENTS. IN FACT YOU CAN NOT EVEN TRANSFER ACCOUNTS THAT HAVE STOCKS UNDER 10 CENTS.
SINCE JOB CREATION IS NOW A MAJOR PRIORITY THIS RULE BY finra ND nscc stops small startup companies from adding jobs because they can no longer pay people with stock because people have nowhere to deposit the stock.
gentlemen, this is AMERICA
I URGE YOU TO REVERSE THIS UGLY ATTEMPT BY FINRA AND NSCC TO ON THEIR OWN DESTROY THE STOCK MARKET FOR STOCKS UNDER 10 CENTS.
IT IS TIME TO STOP THE "SUITS" FROM DICTATING WHAT AND HOW INVESTORS SHOULD INVEST THEIR MONEY
ITS NOT FINRAS OR DSCC MONEY IT THE INVESTORS MONEY AND THE INVESTOR SHOULD HAVE THE RIGHT TO INVEST HOW AND IN WHAT HE WANTS AND NOT BE TOLD BY GOVERNMENT SUITS WHAT HE SHOULD DO.
IN MY CASE I HAVE A COMPANY CALLED SAVI GROUP WHO INVENTED A PRODUC THAT CAN BE INSTALLED ON CARS,TRUCKS BOATS ETC THAT INCREASES GAS MILAGE FROM 10-30%,REDUCES POLUTION BY 70+% AND ALLOWS THE ENGINE TO RUN SO CLEAN YOU NEED TO CHANGE OIL ONLY 1 TIME A YEAR.IN STARTING HIS COMPANY MR. SERGE MONROS NEEDED CAPITAL AND EMPLOYEES. HE PAID PEOPLE MIN. WAGE AND STOCK AND HE SOLD STOCK TO INVESTORS SO HE COULD BUILDHIS COMPANY.
THE ACTION OF FINRA AND NSCC HAS MADE IT IMPOSSIBLE FOR OWNERS OF THE STOCK TODEPOSIT IT WITH ALMOST ALL CLEARING FIRMS TO ALLOW THEM TO SELL IF THEY NEED MONEY.
WHAT IS FAIR ABOUT THIS?
WE ARE NOT A COUNTRY RUN BY DICTATORS SO PLEASE TELL FINRA AND NSCC TO REVERSE THEIR RULEING.
THANK YOU,
GEORGE DAHL