Okay, had a few back and forth's with Mr. Ditlove
My personal 2 cents is that Penson clears with many and if it became an insurmountable problem the powers that be would step in pretty quickly.
This is a quote from part of Ross's response " Thank you for the email. With regard to Penson, I do not correlate the stock price to their operations. I too have many accounts with them as well as my company and frankly the best thing in my opinion that could happen to them is that they get delisted and continue the plan or returning to a profitable company. If they get acquired along the way so much the better as far as I am concerned"
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He responded quickly as always....
The reason why I delayed is that I had another concern which was a significant drop in MB Tradings Adjusted Net capital for february ...
CFTC-Registered Firms? Adjusted Net Capital for February - Bloomberg
And this is the quoted response to my concerns ...
"The CFTC found that some of our cash was in a non-allowable cash account as far as their definition. We were informed and corrected it within hours however it did get noticed within the period, the next reporting period will show that its back to normal."
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...So, my concerns are much less and I see no reason at this time to change brokers , I have been with them since 2005 and have not really had any issues to speak about, can't say the same for other brokers I have used previously, so hope that is helpful to others... But just my own opinion based on what i have to go by which I have no reason to doubt....
