I'm now regulated and have to follow strict rules for trading, all my trades have to be approved and I have to hold for 30 day minimums. This process is painful, because our trading commissions are ridiculously high with my firm to deliberately discourage trading. If I gave $100,000 to my brother and told him to manage it, would I get sent to jail? Where specifically is the law regulating this? Am I just f'd no matter what?
You are obviously not the sharpest tool in the shed for even posting this question! To answer your question, as long as you are not front running your own firm's research/order flow, and he does not live in your house...Put his name on the money before transferring it...if you get my drift. Good Trading to ya'! el surdo
If a pattern of "your brother" taking large positions in stocks which just happen to be take over candidates or make strong moves because your firm gave them a "Buy" recommendation were to come to light ... well, lets just say you'd better get used to your new bunkmate. My advice to you? Stay the hell away from stocks (under any all circumstances), go with futures or CME regulated curriencies ... or just stop pretending like you actually want to be in this business.
They caught Spitzer. They probably have a bunch of ET'ers on the list, but just haven't bothered since most of them are losing money.
clearly you are up to no good that you are worried about being regulated. and YES genius even if you use your brother if you do something illegal unethical you will lose your job and and possibly be censured from the securites industry. you must be looking to front run which is a securites violation. don't drop the soap.
Your compliance department may not catch on, usually they don't have much of a clue. My vote would be to not flow everything through your brother, it will probably turn into more work than you thought. Also, is it worth potentially losing your job over? I'm in the same situation with a corporate trading policy (sux), I'm going to "play the slice" and deal with the 30 day hold the best I can. I think it'll make me a better trader (hopefully). One way around the 30 day hold is to sell deep-in-the-money calls against a position you want to sell before 30 days. My compliance department allows that, as long as the call has a normal probability of assignment. How they evaluate that is beyond me. Good luck, MyOwnBoss
man you are being 100% stupid. Do your jobs play by the rules you signed on for. You are looking to break a rule even before you are hired. If you were my employee I would can you on the spot. there is a reason why they have a compliance dept and require you to check with them. You clearly are unprofessional. you should work at BSC. don't be an idiot and screw your job.
No one wants to work for you anyway because you have poor reading comprehension. There is nothing illegal about looking for legal loopholes in the law or trying to explore options. Some of us don't appreciate excessive government regulation and search all of our options.
well fatrat you are clearly a piker and a loser. bottom line. good luck in your clearly gonig nowhere career in some low level position. keep dreaming of delusions of grandeur. yeah you are smart looking for legal loopholes. wow you must be working for a top tier firm. (probably retail brokerage).