And the DTC said go FFF yourself..in filing 44-9..
Post# of 11038
Posted On: 10/31/2015 2:07:54 AM
And the DTC said go FFF yourself..in filing 44-9..lol
11. On or about October 13, 2015, DTC communicated to Alpine that it would only unwind the distribution if directed to by CRGP or someone acting on its behalf. Alpine proposed proceeding under DTC’s internal procedures which permit an aggrieved party to be heard by a panel of other member firms. DTC’s counsel rejected this proposal. DTC adopted the position that it bears no responsibility for the botched distribution and told Alpine that it should resolve the issue with the DTC member firms that received Alpine’s funds. Alpine requested that DTC provide Alpine with the names of the relevant DTC member firms who had received Alpine’s funds. DTC refused this request.
DTC says ...Go get a receiver....Translation = go see a judge punk!
fyi..Alpine is a participant member of the DTC....very interesting for them to basically say i dont care what you want...DTC Rule 22 does not apply to this situation and therefore Alpine is not entitled to a hearing"
filing 44-8 (DTC letter to Alpine)
Isaac Montal 55 WATER STREET DTCC Managing Director & Deputy General Counsel NEW YORK, NY 10041-0099
TEL: 212-855-3253
inwntal@dtcc.com
October 28. 2015
VIA FEDERAL EXPRESS AND EMAIL
Alpine Securities
39 Exchange Place
Salt Lake City, UT 84111
Attn: D. Michael Cruz, General Counsel
mike @ scalawyer.com
Dear Mr. Cruz,
I write in response to your letter to The Depository Trust Company (“DTC”) dated October 22, 2015,
requesting a hearing pursuant to Rule 22 relating to the interim accounting applied to Alpine Securities’
(“Alpine”) account in connection with the Calissio Resources Group, Inc. dividend distribution.
As previously discussed on a phone call with your outside counsel on October 13, 2015, and as you
note in your letter. DTC Rule 22 does not apply to this situation and therefore Alpine is not entitled to a
hearing.
We have made ourselves available to you and your outside counsel to discuss this matter as well as the
proceeding pending in the U.S. District Court, District of Nebraska brought by COR Clearing. We
remain available if you wish you discuss further. Thanks
This letter is without waiver of any of DTC’s legal or equitable rights, all of which are hereby expressly
reserved.
Sincerely,.f
cc: (electronic only)
Wenchi Hit U.S. Securities and Exchange Commission
Carson McLean, U.S. Securities and Exchange Commission
Moshe Rothman, U.S. Securities and Exchange Commission
Sam Wice. U.S. Securities and Exchange Commission
Tim Casey, U.S. Securities and Exchange Commission
Sharon Lyon, U.S. Securities and Exchange Commission
Allison Fakhoury. U.S. Securities and Exchange Commission
Robert Colby. Financial Industry Regulatory Authority
Andrew Hail. Sidley Austin LLP
8:15-cv-00317-LES-FG3 Doc # 44-8 Filed: 10/30/15 Page 1 of 1 - Page ID # 364
11. On or about October 13, 2015, DTC communicated to Alpine that it would only unwind the distribution if directed to by CRGP or someone acting on its behalf. Alpine proposed proceeding under DTC’s internal procedures which permit an aggrieved party to be heard by a panel of other member firms. DTC’s counsel rejected this proposal. DTC adopted the position that it bears no responsibility for the botched distribution and told Alpine that it should resolve the issue with the DTC member firms that received Alpine’s funds. Alpine requested that DTC provide Alpine with the names of the relevant DTC member firms who had received Alpine’s funds. DTC refused this request.
DTC says ...Go get a receiver....Translation = go see a judge punk!
fyi..Alpine is a participant member of the DTC....very interesting for them to basically say i dont care what you want...DTC Rule 22 does not apply to this situation and therefore Alpine is not entitled to a hearing"
filing 44-8 (DTC letter to Alpine)
Isaac Montal 55 WATER STREET DTCC Managing Director & Deputy General Counsel NEW YORK, NY 10041-0099
TEL: 212-855-3253
inwntal@dtcc.com
October 28. 2015
VIA FEDERAL EXPRESS AND EMAIL
Alpine Securities
39 Exchange Place
Salt Lake City, UT 84111
Attn: D. Michael Cruz, General Counsel
mike @ scalawyer.com
Dear Mr. Cruz,
I write in response to your letter to The Depository Trust Company (“DTC”) dated October 22, 2015,
requesting a hearing pursuant to Rule 22 relating to the interim accounting applied to Alpine Securities’
(“Alpine”) account in connection with the Calissio Resources Group, Inc. dividend distribution.
As previously discussed on a phone call with your outside counsel on October 13, 2015, and as you
note in your letter. DTC Rule 22 does not apply to this situation and therefore Alpine is not entitled to a
hearing.
We have made ourselves available to you and your outside counsel to discuss this matter as well as the
proceeding pending in the U.S. District Court, District of Nebraska brought by COR Clearing. We
remain available if you wish you discuss further. Thanks
This letter is without waiver of any of DTC’s legal or equitable rights, all of which are hereby expressly
reserved.
Sincerely,.f
cc: (electronic only)
Wenchi Hit U.S. Securities and Exchange Commission
Carson McLean, U.S. Securities and Exchange Commission
Moshe Rothman, U.S. Securities and Exchange Commission
Sam Wice. U.S. Securities and Exchange Commission
Tim Casey, U.S. Securities and Exchange Commission
Sharon Lyon, U.S. Securities and Exchange Commission
Allison Fakhoury. U.S. Securities and Exchange Commission
Robert Colby. Financial Industry Regulatory Authority
Andrew Hail. Sidley Austin LLP
8:15-cv-00317-LES-FG3 Doc # 44-8 Filed: 10/30/15 Page 1 of 1 - Page ID # 364
(0)
(0)Calissio Resources Group, Inc. (CRGP) Stock Research Links
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Quote:
If the broker-dealer fails to deliver for 13 days, the regulation imposes a “close out” duty to purchase and deliver securities “of like kind and quantity.”
https://www.bloomberg.com/opinion/articles/20...ify%20wall
https://www.scotusblog.com/case-files/cases/m...v-manning/
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