Integrity of PDTC’s System-Generated ReportsPosted on: November 14, 2019
In light of a recent online article about R & L Investments, Inc., there have been reports alluding to the tampering of reports generated from PDTC.
PDTC stands by the integrity of the data maintained in, and generated by, the depository system. The system-generated reports accurately reflect PDTC’s records of transactions entered by the users and the corresponding balances in the depository accounts. We emphasize that the generation of these reports, which are in PDF format, is fully automated with no user intervention allowed by the system. Only users designated and authorized by Brokers and other Depository Participants to have access to their respective accounts can log in to the account and download and save these reports. Moreover, strict verification processes and other controls are in place with respect to user access. In addition, the system is subject to regular internal and external audits.
As such, the allegation that PDTC’s reports can be tampered with is unfounded. We reiterate that so long as a report is directly generated and accessed from PDTC’s system, we stand by its accuracy and integrity.
As regards R & L Investments, Inc. PDTC has been coordinating with and fully supporting its regulators who are leading the investigation. We assure our stakeholders of our full cooperation on the matter as we are strongly committed to investor protection as a core value of PDTC and of its holding company, PDS Holdings Corp.