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Harbor Securities Day Trading Firm Shut Down
Recently the NASD shut down the day trading firm for failure to maintain adequate capital.
That capital deficiency occurred when one of the firm's customers suffered just a $600,000 loss! Remember that SIPC coverage would not apply.
We will focus on the wisdom (or lack thereof) of trading at firms like Harbor Securities in upcoming articles.
Source: Wall Street Journal, November 17, 1999
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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
All content Copyright © 2008 Advocate Capital Management, Inc. except where noted. All rights reserved.
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