The issue here is FRAUD. If a client has shares then they are 'safe' with the CDSC but a client would lose cash & shares sold without their knowledge.
- CRIMINAL charges against fraud.
- Move to bank-backed brokers e.g. CFCFS & now NIC Capital.
- Move to strong brokers i.e. publicly published & audited financial statements like insurance firms have to do.
- Sell new licenses with 100% of the funds going into the IC fund.
There are buyers for 'new' or 'clean' licenses but there is little interest in existing licenses.
Rumors (& that is all they are) have it that NIC Capital will raise more funds - from NIC Bank - to defray 'bad debts' & 'investor claims' accumulated under Solid Securities. Some NSE insiders claim NIC buying 60% of Solid saved Solid Securities since NIC Bank can't let NIC Capital falter...