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SEC asset freeze of North American Clearing, Inc.
- Thread starter VoodooMMI
- Start date
Wow, thanks for the post. I worked there a total of 4 days before I quit.
You are insured by SIPC up to 500k, $100k of which may be cash....money market funds are considered securities, not cash.
Quote from seasideheights:
Are Noble Trading customers stuck?
http://www.nobletrading.com/customerreports.php
I trade at noble. They are only allowing me to Sell to Close/buy to close. Cant open any new positions.
Im so pissed I better get compensated for the bastards using my frozen funds.
Quote from skeeter4life:
I trade at noble. They are only allowing me to Sell to Close/buy to close. Cant open any new positions.
Im so pissed I better get compensated for the bastards using my frozen funds.
Sure. You'll get a check?????!!!!!!!
This is the real world. In 1980 John Muir was shut down. Everybody was compensated, but the market swooned. No one could sell until they sorted out the DTCC positions. Don't forget, everything is in an ominibus account. And since there is fraud, they have to account for what was the firm's, and what's yours.
Interesting that Lloyd's signed on in Dec of last year for "excess SIPC". I'll bet there's a lawsuit there. Pretty big claim in six months time.
Quote from skeeter4life:
I trade at noble. They are only allowing me to Sell to Close/buy to close. Cant open any new positions.
Im so pissed I better get compensated for the bastards using my frozen funds.
are you serious?
holy cow.
I was thinking of opening an account with noble after cybertrader was shut down.
I hope things work out fast for you.
Will I get the full value of my account back + some compensation for my frozen funds, or will I have to file a suit.