Well, I've decided what I'm going to to in response to the new margin rules. I've spoken with several of my family members and we're going to pool our money together and let me trade it. Basically a small hedge fund. I'll keep a fee for my services and they will share in the profits. Even though it's family, we still want to make it all legal by forming a corporation. They will all be responsible for their own taxes this way as well. This is where I need some advise. First of all, can I even do this in the first place? Do I need a series 7 or any other licenses? I know some of you have traded this way from your posts (Preatorian2, Rtharp, etc) and I'm just wondering what the best way is to go about it. Did you guys actually set up some sort of entity or did your family/friends just put the money in your account? Which type of entity is best? LLC? Limited partnership? S-corp? Any recommendations or ideas would be greatly appreciated.