Illiquid securities

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In the course of liquidating our funds, TFS learned of an industry practice in which short positions of illiquid, and oftentimes worthless, securities are maintained on the books at various broker firms. This can cause problems to individual investors. The industry is aware of this issue, and discusses it at various forums, including theĀ SIFMA Worthless Securities Working Group. TFS is actively engaging the industry in hopes of creating reform.

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