$PHIL The broker De Minimis Firms has increased their shares traded for the month of June by 1,335,125,744 shares. We know as per a tip that back end of 2020 we were told to watch what brokers where doing. They were to play a part in the buyback. Shortly after in 6 months 6 brokers traded and accumulated over 16bill shares. Why did they stop. They traded in all price ranges from tips on up. It's believed they are under contract and can't trade right now. Henry got on several CC and said he was negotiating the buyback and locking shares up. Then the brokers started to decrease holdings except this De Minimis Firms. They do reduce and increase but have been holding around 3-4bill shares at any given time. I do believe this is the only broker left collecting shares and putting them into the hands of the final place before Henry makes the payment to buy them all back. We know Henry can use rule 10b-18 to buyback all shares once per week outside the 25% rule.
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@Saving_Ryan someone has done there research. For the vast majority it’s easier to say a single source when referencing the finra report. Not many are going to dig that deep into the structor of a setup like this. When I looked into it the rules for reporting said they can make up 6 individual sources or less and fall under special non reporting rules until a threshold is hit for trading. Given they are not doing full discloser on all shares traded they are keeping under the required reporting thresholds.
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@Saving_Ryan @sparkdog83 If you dive into the 6110B and 6110B2 rules. Along with some other digging. These firms, groups, individuals, brokers or whatever someone wants to reference than as. They have to keep trading low to not fall under some regulatory compliances and reporting requirements. "As noted above, pursuant to Rules 6110(b)(2)(B) and 6610(b)(2)(B), for firms executing. fewer than, on average, 200 non-ATS transactions per day during the reporting period, FINRA. publishes the volume for these firms on an aggregate non-attributed basis identified in the. published data as “De Minimis Firms.”" There is also a good amount of information on this link here. They also will guide to exceptions and volume reporting requirements. finra.org/rules-guidance/no...
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