Ron, I just checked with the broker I inherited. My broker retired.
You are right. No new sec rules. but, Most major clearing houses do not want to trade pennies anymore with all the regulations. This broker explained so much money has to be put up by these clearing houses that they do not want to do it anymore. Raymond James still may be old school and trade as usual, but the one I am stuck with doesn't even want to trade pennies.
Ron you are correct. poor explanation by a broker, they just don't want it. Ron check again with a broker on the few clearing houses, like to see his answer. Now on the 10%. Maybe I can trade more according to the millions of shares outstanding according to this broker. I've know all along this broker hates pennies and just might be a little fuzzy or poor in his clarification. my apologies.