Hi guys, I am hoping to get some advices here. My wife recent is hired by a financial company and she told me about a 30day compliance rule that I need to follow. So if I buy a stock, I can't sell it within the next 30 days!!! That's absurd. Have you guys heard about this before? How to deal with it?
That's a rule that is implemented in London financial institutions, don't know about elsewhere. The people I know who are affected aren't saying how they get round it, if they even do. Probably isn't worth it since they are v highly paid anyway, what's the point of risking your job? If they are getting around it, try an offshore unscrupulous broker of some sort?
If you work for any of the Wall Street bank, you need to comply to this rule. One of my friends, who works for JPM as a lower ranked busboy, had to comply to this rule.