That is a much simpler question...sorry for any confusion. It is my understanding that the Pattern Daytrader Rule (4:1, etc.) applies to "customers" of retail brokerage firms, not to the licensed members of Broker/Dealers who trade the Firm's account. For example...if you were licensed, and went to work for Goldman, they could pay you any way they pleased, and give you as much capital as they wanted to. If they wanted to enter into a business relationship with you, and thereby start another venture (say an LLC), then they could still allow your pay structure and capital usage to be as the two of you agreed upon. Again, things do change...so please everyone, be sure to check with your Firm for detailed back up of any legal question. Don
Then again, it depends on the definition of 'customer' - which is beginning to sound like 'what the definition of is, is'......
Don: Are there actually SEC/SRO restrictions on overnight equity requirements (for firms)? What are they?