Marginal FINRA Arbitration Decision: TD Ameritrade Sued Over Margin Sellout. I think
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Nov 16, 2010 1:03 pm
Here are the questions that Bill Singer hoped would be answered in the FINRA Arbitration Decision:What was the dollar amount of the margin call? How much, if any, prior notice did TD Ameritrade give to the Claimants? Did the Claimants fail to timely satisfy the call? What dollars and securities were in the Claimants' account when the call was issued? Why did TD Ameritrade decide to sell 47,300 shares of China Life Insurance -- was there nothing else in the account to best satisfy the call or had Claimants indicated a preference to sell that security? What was the mark-to-market price of China Life Insurance shares when the margin call was issued? What was the mark-to-market price of China Life Insurance shares when the sell-out was undertaken? What was the $6.72 discrepancy -- did TD Ameritrade fail to timely sell the shares or what?
Read today’s BrokeAndBroker Blog and find out why Bill is not a happy camper.