Scottrade says: I'm a 17b Daytrader

Those guys can't find their ass with both hands, let GS run wild, but they're going to hang a 100k daytrader.

Well, somebody has to make an example.

Call me when Wall St is wiped out, and three card monty and the bit where you guess where the ball is are investment themes of choice.
 
Quote from flytiger:

Those guys can't find their ass with both hands, let GS run wild, but they're going to hang a 100k daytrader.

Well, somebody has to make an example.

Call me when Wall St is wiped out, and three card monty and the bit where you guess where the ball is are investment themes of choice.
More...
RING RING:D
 
Quote from the1:

you may not know this but what they are referring to is fraudulent trading activities. Section 17 of the United States Code covers Fraudulent Interstate Transactions, which reads:

Use of interstate commerce for purpose of offering for sale

It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by the use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof.

http://taft.law.uc.edu/CCL/33Act/sec17.html
More...

You sure thats right? I just went to the SEC website and it said 17b has something to do with penny stock quotations.

http://www.sec.gov/about/laws/sea34.pdf

Page 277.

I didnt read it all, just glanced over it briefly, but it seems the link you sent was the SEC act of 33 and this one is the act of 34. I think the OP is probably trading penny stocks, thats all.
 
Quote from IanMacQuaide:

RING RING:D
More...

You see it too?

Fuckers. "Investment wizards", and they're all sleight of hand assholes.

"Price discovery", and they're paying corp insiders 6 g's a month. There's some talent. We used to call that "bribes".

And then they chase down pikers, and hold up scalps like they cured leprosy.
 
Quote from peilthetraveler:

You sure thats right? I just went to the SEC website and it said 17b has something to do with penny stock quotations.

http://www.sec.gov/about/laws/sea34.pdf

Page 277.

I didnt read it all, just glanced over it briefly, but it seems the link you sent was the SEC act of 33 and this one is the act of 34. I think the OP is probably trading penny stocks, thats all.
More...

There are two sections entitled "17b" in this document. My guess is that Scottrade refers to this (page 254 in your document):


17(b) RECORDS SUBJECT TO EXAMINATION.—
(1)
PROCEDURES FOR COOPERATION WITH OTHER AGENCIES.—All records of persons described in subsection (a) of this section are subject at any time, or from time to time, to such reasonable periodic, special, or other examinations by representatives of the Commission and the appropriate regulatory agency for such persons as the Commission or the appropriate regulatory agency for such persons deems necessary or appropriate in the public interest, for the protection of investors, ...
 
You must log in or register to reply here.
Back
Top