TD Ameritrade

February 2, 2017
 
Dispute Resolution Department
Revdex.com
211 N. Broadway, Suite 2060
St. Louis, MO 63102
 
RE:      Case # [redacted]:
 
To Whom It May Concern:
 
I am writing in response to your email, dated...

January 27, 2017,
regarding the complaint you forwarded to Scottrade from Mr. [redacted]
regarding money orders he submitted to Scottrade that were subsequently
returned to him. I have researched Mr. [redacted]’s issue and am responding
accordingly.  
 
In his complaint Mr. [redacted] requests the two money orders
he submitted to Scottrade, one for $12.92 and the other for $100.00, to be
returned to him.
 
After discussing this matter with Branch Manager [redacted]
[redacted], I was informed Mr. [redacted]’s money orders were mailed back to his
address of record on January 5, 2017.
 
Once these money orders were picked up from Scottrade by the
United States Postal Service (USPS), Scottrade lost the ability to track this
envelope. We regret any frustration or inconvenience Mr. [redacted] has experienced
regarding this situation.
 
If you have any further questions regarding this issue feel
free to contact me at [redacted] ext. [redacted].
 
Sincerely,
 
 
 
[redacted]
Senior Investigation & Resolution Examiner
 
cc:        [redacted]
[redacted], Branch Manager

Ameritrade software locks up causing delayed quotes, order executions.
These incidents may cause financial loses to investors that need updated information.

Good Afternoon,
Attached you will find our response to Mr. [redacted]'s complaint Case #[redacted].
Thank you!

Complaint: [redacted]
I am rejecting this response because:
Scottrade's response is 100% accurate in describing the events but does nothing to remedy the issue.  Scottrade provides a 'free' check option but washes its hands of...

any responsibility for ensuring checks safely arrive to their customers - they don't track the letters containing their client's money.  Note that the amount of the check is pre-emptively debited from the clients' account while the check is in the mail, adding to the feeling that the client's money is quite literally lost in the mail.  Now, after 2 check requests, over 1 month of waiting, worry and administrative time lost from several emails/calls, I am being pointed toward making a second stop payment.  Scottrade mentioned that "As a customer service gesture, Scottrade waived the $25 stop payment fee."  Wouldn't a more meaningful customer service gesture have been to offer to wire me the funds to compensate me for this event?  Instead, I'm being made aware that I can request a stop payment on my current "lost" check, fill out a wire request for $25 and this time hope the funds are not misplaced. Not exactly an exemplary customer service resolution.
Sincerely,
[redacted]

Initial Business Response /* (1000, 7, 2015/07/15) */
July 15, 2015
Dispute Resolution Department
Revdex.com
RE: Case # [redacted]
To Whom It May Concern:
I am writing in response to your letter, dated June 30, 2015, regarding the complaint you forwarded to...

Scottrade from [redacted]. Ms. [redacted] alleges Scottrade made errors which led to a delay in the processing of a wire transfer from her Scottrade account. She also states she was unhappy with the service she received from her local Scottrade branch office. I have researched Ms. [redacted]'s issues and am responding accordingly.
Regarding the wire transfer Ms. [redacted] requested for June 24, 2015, Scottrade completed the wire transfer to the client's satisfaction on June 25, 2015, and waived any and all fees the client incurred for this transaction.
In regard to the customer service issues the client states she experienced, Scottrade handles these types of issues internally and will not be commenting further. We respectfully decline the client's request for a 20 page written apology.
Sincerely,
[redacted]
Senior Investigation & Resolution Examiner

Initial Business Response /* (1000, 5, 2015/12/10) */
Contact Name and Title: [redacted]
Contact Phone: XXX-XXX-XXXX
Contact Email: [redacted]@scottrade.com
December 10, 2015
Dispute Resolution Department
Revdex.com
211 N. Broadway, Suite 2060
St. Louis, MO XXXXX
To Whom It...

May Concern:
I am writing in response to your email, dated December 7, 2015, regarding the complaint you forwarded to Scottrade from Mr. [redacted] regarding a stress test performed in the above-referenced Scottrade margin account, and trades he placed in VirtualScopics (VSCP) on October 30th.
Scottrade responded directly to Mr. [redacted] on November 18, 2015, regarding this situation. Please see a copy of that response attached below.
If you have any further questions regarding this issue feel free to contact me at XXX-XXX-XXXX ext. [redacted]
Sincerely,
[redacted]
Senior Investigation & Resolution Examiner
cc: [redacted], Branch Manager
November 18, 2015
Dear Mr. [redacted]:
I am writing in response to your letter, dated October 30, 2015 regarding a stress test performed in the above-referenced Scottrade margin account, and trades you placed in VirtualScopics (VSCP) on October 30th. You express frustration that you have not been notified when stress tests are performed and additional maintenance requirements are added to your account. I have researched your issue and am responding accordingly.
A stress test was performed on your account the week of October 26, 2015. This stress test resulted in a maintenance call on your account. Stress tests are common in the securities industry as a mechanism to identify and address margin risk.
Scottrade's stress tests use security price movement in the form of standard deviations to measure risk associated with an account. Below is the formula used to calculate the standard deviation:
Standard Deviation = (Stock Price x Implied Volatility %) / Square Root of 12
The implied volatility % for individual securities can be obtained from third party websites such as www.iVolatility.com.
The following is the current amount of additional maintenance required at each level of standard deviation, where the account would go to negative equity:
1 Standard Deviation - 20% additional margin maintenance requirement
1.5 Standard Deviations - 15% additional margin maintenance requirement
2 Standard Deviations - 10% additional margin maintenance requirement
As of November 9th, Scottrade now sends automated emails to clients to inform that a deviation is being added to their account, and to provide details on how they can reduce their risk exposure.
With respect to your particular situation, on the morning of October 27, 2015, as a result of a stress test, your account went to negative equity at 3 standard deviations movement (the then current maximum deviation amount) in your security positions. Therefore, an additional 10% maintenance requirement was added, raising your margin maintenance requirement.
Scottrade does not provide individual stress test reports. If you would like to perform a stress test on your account, you can use the above formula to calculate the standard deviations for each security position in your account, and then subtract the deviations from the stock price of the security.
Once you have subtracted the standard deviations from the previous close price of the securities you would calculate the equity percentage in your account based on the standard deviation adjusted position values.
Regarding your trades in VSCP, you entered a three-legged OCO (One Cancels Other) sell order (Limit, Stop Limit on Quote, Trailing Stop) for 1,700 shares on October 30th. Two of these orders then received executions, however as you may be aware, an OCO order should only have one order receive an execution. The two orders triggered simultaneously because the market for VSCP was at a point that both orders' parameters were met at the same time. As this order incorrectly received two executions, once this error was discovered, one execution was removed from your account. As a result, 1,700 shares of VSCP were returned to your account.
With an OCO order there are three live orders at the market center, and the receipt of one execution tells our system to send out cancels for the other remaining open orders. Because there were two orders triggered simultaneously, this precluded a cancel being sent out for one of the remaining orders, while the third order was cancelled correctly.
We regret this incident happened, however the actions Scottrade took regarding this situation were correct. Since only one of the three legs on your OCO order was due a fill, the second execution was removed as erroneous. Based on this information, no adjustments will be made to your account.
Your business is appreciated at Scottrade and we hope that you will continue to allow us to service your investment needs. If you ever need additional assistance, please feel free to contact your local branch office at (XXX) XXX-XXXX.
Sincerely,
[redacted]
Senior Investigation & Resolution Examiner
cc: [redacted], Branch Manager

September 29, 2015
Re: Revdex.com Complaint Case # XXXXXXX
To Whom It May Concern:
I am writing in response to the complaint you forwarded to Scottrade on September 14, 2015 from Mr. [redacted] regarding the delay in receiving his corrected 1099.
2014 was the initial year brokerage firms were...

required to track the cost basis for options and fixed income securities as part of the Emergency Economic Stabilization Act of 2008. While auditing the transaction data, we identified instances in which the cost basis may have been incorrectly reported for these securities.
While the incorrect information on Mr. [redacted]'s tax statement has been identified and corrected, we are still working to resolve this matter, which has taken some additional time. We intend to generate official 1099 forms with the amended information, which will be provided to clients as well as the IRS.
Scottrade has provided Mr. [redacted] with a preliminary draft of the corrected 1099, including the amended information relating to applicable fixed income securities. The information reflected on the preliminary draft is what Scottrade will be providing to the IRS once the matter is fully resolved.
We recognize the importance of receiving accurate tax statements in a timely manner and regret we were unable to provide Mr. [redacted] with a level of service to meet his expectations. Please be assured this has been a top priority for Scottrade and our team is working diligently to have this corrected.
We appreciate the opportunity to address Mr. [redacted]'s concerns. If he has additional questions regarding this matter, he can contact his local Scottrade office at (XXX) XXX-XXXX.
Sincerely,
[redacted]
Investigation and Resolution Examiner

Dear
Mr. [redacted],
 
We are writing in response to your
correspondence, received May 2, 2017, via the Revdex.com (Revdex.com), in
regards to various issues with your loan with Scottrade Bank.  We have reviewed the issues and are reporting
the following.
 
As
we...

conveyed in our most recent correspondence to you, dated January 12, 2017,
Scottrade Bank does not offer payment books, but rather provide invoices that
relay the current and necessary information in advance of when a payment is due.  As we have verbally communicated, we recently
experienced invoicing issues as a result of a recent system transition.  We apologize for any confusion this has
caused and believe the issue has been corrected.  We
understand you are concerned payments are not being applied in a timely manner,
thus resulting in additional interest accruing. 
When a payment is received, we stop charging interest on the principal
portion of that payment until the payment is applied, which ensures no
additional interest is charged to youAs
a result of your complaint, we have recalculated your most recent payments to
confirm our previous statement that no additional interest was charged on your
loan.  Our records indicate your payments
have been properly applied in the manner in which we have indicated. 
In regards to your interest in speaking
with an Operations Manager or the Bank President, as of the date of this
letter, Vice President [redacted] has contacted you by phone to discuss your
loan.  In addition, Mr. [redacted] has been
assigned specific responsibility for addressing your concerns.  This will ensure that you speak with the
person most familiar with your account and account history.  Should you need additional assistance in regards to your loan, please contact
Mr. [redacted] directly, at [redacted].
 
We hope this information has brought
clarity to the situation and apologize for any issues you have experienced in
your communication with us.
 
  
 
Sincerely,
 
 
 
[redacted]
Compliance
Analyst
Scottrade
Bank

December 16, 2016
 
Dispute Resolution Department
Revdex.com
211 N. Broadway, Suite 2060
St. Louis, MO 63102
 
RE:      Case #[redacted]:
 
To Whom It May Concern:
 
I am writing in response to your email, dated...

December 8, 2016,
regarding the complaint you forwarded to Scottrade from Mr. [redacted]
referencing his request that Scottrade reimburse the $75.00 fee for
transferring his assets to [redacted]. I have researched Mr. [redacted]’s issue
and am responding accordingly.
 
After due consideration, Scottrade implemented a $75.00
account transfer fee October 1, 2012. 
There are significant costs associated with processing certain type of
transactions and while we previously chose to absorb those costs, it has become
a significant expense.  All of
Scottrade’s commissions and fees are at or in-line with the competitive
landscape.  The $75.00 account transfer
fee is disclosed through the Scottrade Brokerage Account Agreement, which
references our fee schedule located on Scottrade’s website.
 
It’s important to note most receiving brokerage firms will
generally reimburse transfer fees charged when moving funds to the new
brokerage firm. Mr. [redacted] has stated [redacted] has declined to reimburse
this fee. This is outside of Scottrade’s control, and while we regret this
matter may have caused Mr. [redacted] frustration, we respectfully decline his
request for reimbursement.
 
Mr. [redacted] has stated he did not authorize certain Money
Direct electronic deposits into his Scottrade account. The Scottrade Enterprise
Fraud department has investigated this claim and could find no evidence of
fraudulent activity associated with Mr. [redacted]’ account. Therefore no adjustments
were made to his account.
 
If you have any further questions regarding this issue feel
free to contact me at [redacted].
 
Sincerely,

[redacted]
Senior Investigation & Resolution Examiner
 
cc:    [redacted],
Branch Manager

Re:  Scottrade Account [redacted]
        Revdex.com Complaint Case # [redacted]
Dear
Dispute Resolution Department:
I
am writing in response to the complaint you forwarded to Scottrade on April 27,
2016 from Mr....

[redacted] regarding the $75.00 outgoing account transfer fee (per
account).
Per
the letter Scottrade sent Mr. [redacted] on April 20, 2015, the rate increase
was announced on his September 2012 account statements.  If he looks toward the top of his statements,
he will see a box that says “Information Update.”  In that box, it states, “As of Oct. 1, 2012,
Scottrade’s Commissions and Fees Schedule has been updated. To view the new schedule, please visit
Scottrade.com/CommissionsAndFees or contact your local Scottrade Team.” 
Further,
per Scottrade’s Brokerage Account Agreement: Section 1-C Fees, Commissions and
Account Minimums it states, You agree to pay the brokerage commissions,
charges, taxes or other fees as set forth in our then-current Brokerage
Commissions and Fees Schedule as applicable to the pricing structure of your account
and the type of transactions and services you receive. Scottrade's Brokerage
Commissions and Fees Schedule is available on our website.
Since
Scottrade acted accordingly with regard to our policies and procedures, we
respectfully decline Mr. [redacted]’s request for reimbursement.
If
you need additional assistance, please feel free to contact me at
[redacted]
Sincerely,
[redacted]
Investigation
and Resolution Examiner
cc:  [redacted], Branch Manager