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Saturday, 5 May 2012

Penson brokerage warning

It might be prudent to repatriate or otherwise secure any funds which are not required for immediate trading.  See Penson's price chart below, and Ann Barnhardt's warning. 

Scroll down at this site to find "MF Global 2.0 may be unfolding now", posted by Ann Barnhardt on 2 May, 2012.

In Australia:  I understand that "Penson Australia was taken over by Pershing which is owned by Bank of New York. (".

Courtesy OptionVue Systems

For actions which can reduce the risk associated with broker collapse, see the earlier posting which explains how to protect yourself from brokers going broke.

I acknowledge with thanks Ann Barnhardt, and JSMineset for bringing this to my attention.

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