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It has become very difficult to deposit OTC securities.  There are only a few broker dealers who will accept low priced, pink sheet, and OTC markets securities.  Certificate deposit usually takes place after a broker dealer performs due diligence on the certificate depositor, issuer, and attorney writing the opinion letter. The due diligence process begins with proof of address, and review of the depositors drivers license.  Additionally, a review of the securities attorney issuing the opinion letter, and check of the prohibited attorney list on Lastly, a background check is performed on the attorney issuing the opinion letter, certificate depositor, and securities issuer.  Broker dealers perform due diligence because they are considered the gate-keepers to prevent fraudulent low price securities deposits.

In some instances, broker dealers will decline to deposit securities even though they pass the due diligence, and background checks.  Many times broker dealers will not give a reason for declining an OTC certificate deposit.  Certificate deposits are declined for a number of reasons.  Some reasons for declining a certificate deposit include, promotional activity by the depositor or issuer, or partial convertible notes purchased from non US citizens.

If you have an OTC security, or are a pink sheet convertible note holder you should get your securities attorney to issue an opinion letter, and attempt to deposit your security as soon as possible. Having the securities deposited puts the holder in a good position to liquidate if the market changes. One of the largest correspondents to Alpine Securities is -------------.  ---------------- is a full service investment bank and they handle a significant number of OTC certificate deposits, convertible notes, consulting agreements, and 3(a)(10) conversion and deposits.

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