Casey, you cant cover on the greys. Its the only a
Post# of 11038
Posted On: 11/06/2015 5:04:22 PM
Re: caseyryan1986 #6136
Casey, you cant cover on the greys. Its the only advantage investors have is that margin debt can not be touched until
1) a 15c-211 is filed (MM sponsorship)
2) A buy in notice is handed down from a Federal Judge
We all know the MM's wont touch any grey sheet pink because of the liability it incurs especially within the 5 year statute of limitations a MM must survive if fraud exists.
Only one way out!!!!
There is a 3rd....but that means a write off (settlement) which the IRS will ask for proof....good luck getting the broker to give you receipt form. Risk IRS Audit on shares that never settle to be sold.....good luck explaining that to the IRS on worthless shares. This transaction is no longer falls under capital gains....its classified as earned income...at 0. Proof? Ask your broker if they would give you a 1099 INT?
4- (privatization) = buyout (rare...never seen it on the greys)
5)- (reverse merger) = good luck with that one....too much liability that Finra wont approve bc of the sticky debt volume associated with the issuer.
1) a 15c-211 is filed (MM sponsorship)
2) A buy in notice is handed down from a Federal Judge
We all know the MM's wont touch any grey sheet pink because of the liability it incurs especially within the 5 year statute of limitations a MM must survive if fraud exists.
Only one way out!!!!
There is a 3rd....but that means a write off (settlement) which the IRS will ask for proof....good luck getting the broker to give you receipt form. Risk IRS Audit on shares that never settle to be sold.....good luck explaining that to the IRS on worthless shares. This transaction is no longer falls under capital gains....its classified as earned income...at 0. Proof? Ask your broker if they would give you a 1099 INT?
4- (privatization) = buyout (rare...never seen it on the greys)
5)- (reverse merger) = good luck with that one....too much liability that Finra wont approve bc of the sticky debt volume associated with the issuer.
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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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