Tag Archives: Penny Stock Deposits

Is The End Of The Penny Stock Market Imminent?

In September, Bank of America banned trades of all microcaps with stock prices under $5. For some, this signaled the end of the penny stock market and prompted Richard Levick to share an article on Frobes.com titled “The End Of The Penny Stock Market Could Be Imminent.” According to Levick, “If enough other financial institutions follow suit, the penny stock

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Bank of America Bans Trades of All MicroCaps With Shares Under $5

According to CNBC, Bank of America’s Merrill Lynch brokerage recently told clients it was changing its trading policy regarding penny stocks. CNBC’s sources say Merrill Lynch banned purchases of ‘penny stocks’ in late July, and added restrictions to sales in September. As of September 30th,  stocks priced under $5 per share from companies with a market capitalization under $300 million will be

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What To Do If You Can’t Clear Your MicroCap Stock From A Convertible Note

In a recent guest post, Mark R. Basile, Esq. shared a post titled “Let’s Make A Deal! – A Message to Convertible Note Holders And MicroCap CEOs.” In the post, Basile discussed how it is becoming increasingly difficult to clear stock in microcap companies, especially if that stock was part of a note conversion. So, what can you do if

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Why Is It Difficult To Deposit MicroCap Stock?

In a new post on the OTC Markets’ blog, Jason Paltrowitz answered a question many microcap shareholders ask –  “Why Can’t I Deposit my Shares?” According to Paltrowitz, “The problems with the deposit of shares often center around broker-dealers’ gatekeeper responsibility to understand “how” the company’s shares were obtained and know “who” the investor looking to complete the transaction is, so

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SEC Bans MicroCap Broker-Dealer From Accepting Penny Stock Deposits

  Last Friday, the SEC released an order making finding and imposing remedial sanctions against Windsor Street Capital, L.P. (formerly known as Meyers Associates L.P.).  According to the SEC, “On numerous occasions, from at least June 2013 to January 2016, MeyersAssociates violated Securities Act Sections 5(a) and 5(c) by facilitating the unregistered sale of hundreds of millions of penny stock shares, without performing adequate

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