1 yr Lockup of Funds at Prop

Discussion in 'Prop Firms' started by JamesL, Feb 7, 2010.


  1. They need to file focus reports and their net capital is checked daily.
    Violation during the day may cause firm shutdown unless they refund the account.
    Much harder to blow up with this set up then with no oversight

    Not saying its 100% safe - just safer.
     
    #11     Feb 8, 2010
  2. You claimed "there's an SEC rule" and received replies that there isn't. It isn't the case that "nobody has an answer", it's the case that the answer isn't what you apparently expected. If you think the answer is wrong -- and that such an SEC rule exists, contrary to the various posters' assertions -- the burden is on you to prove it.
     
    #12     Feb 8, 2010
  3. SEC rule 15c3 for the 1 yr lock up. look in your legal agreement when you sign up with a firm.

    some firms have enough cash around, if you leave early they will cut you a check for the remaining amount etc
     
    #13     Feb 8, 2010
  4. JamesL

    JamesL

    #14     Feb 8, 2010
  5. stumpzy

    stumpzy

    #15     Feb 8, 2010