DTCC - Securities l Corporate l Business Law

JH Darbie Charged in Calissio Resources Scam – Securities Lawyer 101

    On March 27, 2018, the Securities and Exchange Commission (SEC) announced a settled administrative proceeding against broker-dealer J.H. Darbie & Co., Inc., and Robert Y. Rabinowitz, Darbie’s majority owner and CEO.  On its surface, the suit… Read More

Calissio Resources – A Special Dividend by Any Other Name

More than two years ago, we published the first in a series of articles about problems surrounding the declaration and payment of a special dividend by penny stock issuer, Calissio Resources Group, Inc. (CRGP).  We followed up with… Read More

IHUB Pushes Back to COR Clearing Subpoena in Calissio Case

We last wrote about the complex litigation involving Calissio Resources Group (CRGP) in February.  It arose out of a controversy surrounding the company’s payment of a special dividend of $0.011 a share in August 2015.  At the time… Read More

COR Clearing Subpoenas Retail Shareholder Trade Information

  Last fall, we wrote about a highly unusual cash dividend paid by penny stock Calissio Resources Group, Inc. (CRGP).  The payment process was so badly botched it resulted in a Financial Industry Regulatory Authority (FINRA) U3 trading… Read More

Bungled Calissio Resources Dividend Sparks FINRA Halt and Clearing Firm Lawsuit

For penny stock enthusiasts looking for a little late-summer entertainment, the issues surrounding an extremely large special dividend distributed by Calissio Resources Group, Inc. (CRGP) have proved to be of unusual interest.  On June 16, 2015, the company… Read More

DTC Eligibility Q & A – Creating Liquidity with Electronic Trading

Posted By Brenda Hamilton, Securities Lawyer The Depository Trust and Clearing Corporation (“DTCC”), through its subsidiaries, provides clearing, settlement and information services for securities. DTCC’s subsidiary, the Depository Trust Company (“DTC”) was created to improve efficiencies and reduce… Read More

DTC Eligibility Explained By The Going Public Attorneys

Posted by Brenda Hamilton, Securities and Going Public Lawyer Q. What is The Depository Trust Company (“DTC”)? A. DTC is the only stock depository in the United States. Q. How do public companies obtain a DTC eligibility? A…. Read More

DTCC Removes Global Lock of Veltex Corporation’s Securities

Effective October 17, 2014, the Depository Trust Company (“DTCC”) has reinstated services for the securities of Veltex Corporation (“Veltex”). Stephen G. Macklem, CFO of Veltex quantified in a statement, “Veltex, thru the retention of the Law Offices of Hamilton… Read More

Proposals For DTC Chills and Global Locks WITHDRAWN

On December 18, 2013, the Depository Trust Company (“DTC”) submitted a proposed rule change to the Securities and Exchange Commission (“SEC”), which regulates its activities.  Its aim was to “specify procedures available to issuers of securities deposited at… Read More

DTC Chill Conspiracy Theories On the Rise

Securities Lawyer 101 Blog The Depository Trust Company (“DTC”) is the only stock depository in the United States.  When DTC provides services as the depository for an issuer’s securities, its securities can trade electronically. Without DTC eligibility, it is almost… Read More