BCIT.... $1 or bust. Tale of "A broker's Plea for shares" Message Board

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Microcap & Penny Stocks : BCIT.... $1 or bust. Tale of "A broker's Plea for shares"

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To: cmgibubba who wrote (35)	2/19/2007 2:58:48 AM
From: M0NEYMADE	of 209

Ameritrade playing BCIT dragazz? Well guess what... Just like any other market participant, Ameritrade is liable for their contractual delivery obligations. The consequences for failing to deliver securities have appropriate measures set in place by the Commission. If Etrade has the new (cusip# 05968X205) shares exchanged...... then likewise it is beholden for Ameritrade to have the new shares also! (A) Should Ameritrade fail to comply. Tell them they are in clear violation of the Commissions (1)"Customer Protection Rule" AND (2) state statutory rights. It is time to demand action from Ameritrade. No more dragazz! Where are our GD new BCIT shares. (B) Tell Ameritrade to produce your securites they are "fully paid securities" and a "qualified security" "The term fully paid securities shall include all securities carried for the account of a customer in a special cash account as defined in Regulation T promulgated by the Board of Governors of the Federal Reserve System, as well as margin equity securities within the meaning of Regulation T which are carried for the account of a customer in a general account or any special account under Regulation T during any period when section 8 of Regulation T specifies that margin equity securities shall have no loan value in a general account or special convertible debt security account, and all such margin equity securities in such account if they are fully paid: Provided, however, That the term "fully paid securities" shall not apply to any securities which are purchased in transactions for which the customer has not made full payment. (C) Send the Commission in writing DEMANDS to uphold their rule 15c3-3(m) It is the Commissions rule 15c3-3(m)that ensures: "The aggrieved buyers have adequate and effective remedies for non-delivery. The requirement that customer sales be completed is sufficiently regulated in rule 15c3-3(m). LASTLY: WHAT IS THE BROKERS OBLIGATION??? A broker or dealer shall not be deemed to be in violation of the provisions of paragraph (b)(1) of this section regarding physical possession or control of customers' securities if, solely as the result of normal business operations, temporary lags occur between the time when a security is required to be in the possession or control of the broker or dealer and the time that it is placed in his physical possession or under his control, provided that the broker or dealer takes timely steps in good faith to establish prompt physical possession or control. The burden of proof shall be on the broker or dealer to establish that the failure to obtain physical possession or control of securities carried for the account of customers as required by paragraph (b)(1) of this section is merely temporary and solely the result of normal business operations including same day receipt and redelivery (turnaround), and to establish that he has taken timely steps in good faith to place them in his physical possession or control. PAY UP... BY -MONEYMADE- Sources: law.uc.edu sec.gov

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