After I bought 210,000 shares yesterday with Etrad

After I bought 210,000 shares yesterday with Etrade, I told the trader I was in the business for over 20 years and did he have any indication why we had to call in buy orders. He said corporate actions are one reason but those restrictions don't last long. He said with UNVC it is probably a routine "compliance" concern on Etrade's part. He said regulators are always "looking" at trading compliance issues at all the trading firms. So when Etrade see a "dark, sub penny" stock with significant volume and rise, as last summer to .034 cents, it is a red flag for investor compliance issues. The reason we are put on hold after we give the order is the trader has to ask his supervisor, who looks at your account and gives the OK to buy. He said he thinks it is simply Etrade covering their butt concerning compliance issues with FINRA and the SEC. It doesn't happen often but when they "flag a ticker" they will limit buying to call in only. He said as soon as UNVC is current, the call in will stop. Common sense tells you that is why selling with a click is OK, as you are getting out of the position, no more compliance issue with Etrade.

The trading firms have to show the authorities they are "doing their compliance", so they pick a ticker and do their thing. Not all tickers are chosen, we happened to be the ticker at that point. Again, NOT an issue with UNVC, the issue is "customer suitability" to buy a dark penny stock, all thanks to FINRA, SEC and the Etrade attorneys. It can happen at any firm.

Sorry I kept him on the phone an extra 3 or 4 minutes if you were trying to get thru, but his answer makes 100% sense to me.