According to Cdn Securities Act (Section 25) you must be registered to be an advisor. Must. So I'm not sure what you mean by 'exempt from securities regs' in your post above.
There are certain exemptions from registration as an advisor with the OSC. If I'm not mistaken it is under the 45-501 securities provisions. There is also exemptions if your are advising certain foreign entities. Advising CDN residents will do doubt require some sort of registration. As well, there are certain circumstances whereby advisory roles through financial newsletters are exempt. ..
Very curious thread. But The internet thing could have many loopholes. Ip's are not really location specific. I seriously doubt any broker has location ip audits done by the SEC/IRS.(At least for now). I would imagine it boils down to where you registered with the broker and what the laws are pertaining to offshore entities. How does it work when hedge funds are registered in the carribean. Yet trade onshore? It does seem that many do this. I suppose with proper hierachical corps onshore and off? Anybody know of any good links or books on this stuff? If a parent onshore owns a offshore. But only distributes overhead compensation to the parent. Do the net profits stay tax free? Very fasinating -Bluestar
Ownership is a tough issue, although I do believe this is a difficult area for the US to pin down. Of course there is simple disclosure, but beyond that the anti-money laundering laws may or may not allow discovery of a US citizen having beneficial ownership of an offshore corporation based in a country which manages to stay off of the blacklists. Beyond that I'm trying to determine just how much information is available to our friendly tax man with regard to ownership, and exactly how they are choosing to deal with individuals who choose not to disclose such information voluntarily.
I wouldn't let a tech virtuoso such as Nitro anywhere near my proprietary cluster. Assuming of course I owned a cluster, which I don't.
Can someone please answer me this hypothetical question. If I'm a non US citizen residing in my native country and I manage to set up an IBC and bank account in a tax free jurisdiction, then set up a futures account with a US brokerage, how can my native country know that I'm avoiding tax unless I tell them. All transactions are outside my country of residence and unless my bank in the tax free jurisdiction rolls over on me, I'm home free. I know this is illegal. But I also know that a lot of wealthy people do it. So it becomes a question of how difficult it is for them to catch you. And I believe it would be very difficult. Runningbear
cgjung: You may consider the following, now a reality after the HomelandSecurity/Patriot acts are in effect: 11-21-02 04:56 PM PENTAGON CONFIRMS CIVILIAN DATABASE Maybe the IRS should thank bin laden... ------------- Pentagon to Track American Consumer Purchases Thursday, November 21, 2002 By Major Garrett WASHINGTON â A massive database that the government will use to monitor every purchase made by every American citizen is a necessary tool in the war on terror, the Pentagon said Wednesday. Edward Aldridge, undersecretary of Acquisitions and Technology, told reporters that the Pentagon is developing a prototype database to seek "patterns indicative of terrorist activity." Aldridge said the database would collect and use software to analyze consumer purchases in hopes of catching terrorists before it's too late. "The bottom line is this is an important research project to determine the feasibility of using certain transactions and events to discover and respond to terrorists before they act," he said. Aldridge said the database, which he called another "tool" in the war on terror, would look for telltale signs of suspicious consumer behavior. Examples he cited were: sudden and large cash withdrawals, one-way air or rail travel, rental car transactions and purchases of firearms, chemicals or agents that could be used to produce biological or chemical weapons. It would also combine consumer information with visa records, passports, arrest records or reports of suspicious activity given to law enforcement or intelligence services. -cont- http://www.foxnews.com/story/0,2933,70992,00.html see also: Pentagon confirms 'snooping' system http://www.washtimes.com/national/20021121-80027736.htm Bush Administration to Propose System for Monitoring Internet By JOHN MARKOFF and JOHN SCHWARTZ The Bush administration is planning to propose requiring Internet service providers to help build a centralized system to enable broad monitoring of the Internet and, potentially, surveillance of its users. The proposal is part of a final version of a report, "The National Strategy to Secure Cyberspace," set for release early next year, according to several people who have been briefed on the report. It is a component of the effort to increase national security after the Sept. 11 attacks. The President's Critical Infrastructure Protection Board is preparing the report, and it is intended to create public and private cooperation to regulate and defend the national computer networks, not only from everyday hazards like viruses but also from terrorist attack.* Ultimately the report is intended to provide an Internet strategy for the new Department of Homeland Security. ... But Internet service providers argue that its data-monitoring functions could be used to track the activities of individuals using the network. An official with a major data services company who has been briefed on several aspects of the government's plans said it was hard to see how such capabilities could be provided to government without the potential for real-time monitoring, even of individuals. "Part of monitoring the Internet and doing real-time analysis is to be able to track incidents while they are occurring," the official said. The official compared the system to Carnivore, the Internet wiretap system used by the F.B.I., saying: "Am I analogizing this to Carnivore? Absolutely. But in fact, it's 10 times worse. Carnivore was working on much smaller feeds and could not scale. This is looking at the whole Internet." * -cont- http://www.nytimes.com/auth/login?U...95ba76443ce31dQ26eiQ3D5062Q26partnerQ3DGOOGLE posted by Madison on the "Big brother would be proud" thread Josh