Thanks for the emails you guys, I think it will really help us in our quest, please keep them coming, the more the better. Don
Has the OSC made you sign a non-disclosure agreement, Mr.Bright? If not... What specifically does the OSC feel is non-compliant... About the Bright business model... That is not a problem in BC? Seems to me that this would be the first thing... A serious trader might want to know.
Nothing about not being in Compliance or anything, it's just that they don't understand that we don't have "retail customers" and therefor don't need all the back office and other expensive related costs involved with being a retail firm. Basically they're trying to figure out what classification we fall under. BC kicked out several U.S. firms a few years back, but we were allowed to stay because we did take the time to register correctly. Apparently BC and Ont have different guidelines at this point. They're all very nice and trying to help. Things are looking up, however...we are making progress. "Stay tuned" as they say, Don
Sounds like you need a good securities attorney from Ontario. How does that work income wise. The profits or losses are booked in Canada if that is where you are trading, is that correct?
We have a good legal group in Ontario. Tax situations vary by trader, some pay both US and Canada, but get credits for the U.S. Canadian taxes pretty high I'm told. Don