From a compliance standpoint, how will they gain knowledge that I have been using another brokerage to day trade stock options?

funnylike
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

I guess when they give you notice to pack up your desk

funnylike

I’ve seen it happen and they don’t let you pack up your desk lol. Your stuff will be mailed

likefunny
Recent IconRecent

F**k around and find out

funnylike

The other brokerage firm will ask for a 407 letter from either you or MS. You will get caught and you will get fired. You attest at least once a year that you don’t hold any unapproved outside accounts. You trading them proves you didn’t just forget you had that account.
I’ve unfortunately had to fire people over this in the past.

like

This is a FINRA rule 3210 violation. If your options account is Robinhood you might be ok bc based on a conversation I had with a bank compliance officer I don’t think they share client information with other brokers/banks yet. If you’re on the private side of MS there’s a good chance you’ll get fired on the spot if you admit to operating this unreported trading account. Not trying to scare you but you need to be very strategic about navigating this and immediately shut down the options account.

like

^ This.

Ethically this puts you in the unfit to work for a bank.

If you are licenced this will go on your record and you will spend the rest of your life pump and dumping penny shares from Long Island as no major will hire you into a regulated role.

likefunny

Compliance tends to get a feed of accounts from brokerage firms based on some PII data. A reconciliation is performed and then followed up on.

like

They will always find out.

likehelpful

@ you don't think FINRA gets data of accounts and matches them up to their member lists.

You should see what they find from OATS and LOPR reporting.

They will find out.

like

LOL

like

The sketchiest thing I’ve done is “trade” broad based ETFs in a betterment account. The only thing iffy is I did not always hold for 30 days but I could argue it’s not a covered account (at least by my firms definition) as it is not capable of buying or holding any single name security…therefore the 30 day hold period per policy is not applicable. Everything you can buy on betterment is broad based ETFs and doesn’t require preapproval according to my firms policy.

That said I’ve seen 2 analysts/associates fired for fragrantly disregarding the firms trading policy (NOT acting on inside info or even close to borderline illegal).

like

Did you at least have some lucrative trades lol?

like

LOL

like

https://www.ssctech.com/solutions/products-a-to-z/evare

likehelpful

They gon find out💀 I had to learn that the hard way

like

It is not Compliance responsibility to find out in first place but ours to disclose. Compliance folks at Citi are very good at finding out the f***s people make 😃 they work like an intelligence apparatus.

As a related question - what about external income through side hustles? I’ve never understood if Compliance or FINRA checks tax documents or where that info comes from either

like

Related Posts

"When did Def Leppard become stripper music?"

funnylike
like

I'm so stressed and nearing my limit 😪. My design partner for several years now, loves to pretend she's the CD and markup my work. Historically I've let it slide because she has good suggestions. But lately she outright changes my copy and tells me later. I'm easygoing and they're good suggestions so I try to ignore but its getting worse and borderline disrespectful. We work exclusively together so if I rock the boat its going to get even more uncomfortable. What would you do?

like

I am currently debating on applying for a Senior Pharmacy Claims Professional role at Humana. I have been with the company over 10 years. Any thoughts on what to expect for a wage/salary? Also, would this role be equivalent to a Team Lead role?

like

Alright let's have some fun!..... What's the funniest/craziest/ridiculous thing you've had to deal with at work?

likehelpful

Hi All - I am in the last stage of interviewing for Booz Allen. I’m an aspiring consultant transitioning from industry (healthcare). BAH told me the position itself is full time but it is “attached to a contract.” Should I be worried that I would lose the job if and when the contract ends? Would love insight from current or former BAH folks

like

Why does Zulu do such corny work? Is it because of Zak?

funnylike

How do people get data analyst jobs at the New York Times any tips are welcomed.

likehelpful

Hey y’all. What’s a lateral move? A recruiter reached out asking if I was open to a lateral move. I don’t know what that means. Halp???

like

We are all just looking for someone to love us like Christian Horner loves Max ❤️💙

likefunny

Is there a way to make my eyebrows look better? Do regular eyebrow shops help with this? Do I just buy a pencil? Need advice!!

Post Photo
like

Hi, I have an interview with Twitch for a product manager role. Can anyone help me with what I should expect while interviewing with them?

like

Bought this YSL bag as a gift for my sister. Unfortunately she was ungrateful so I didn’t give it to her. I’m unable to return it. It’s brand new still with tag. Willing to sell for the price I paid.

Post Photo
like

Will Nagarro do early release within a week. After putting down paper? I have not assigned to any project yet? It's just been less than a month joined Nagarro

like

Hey Fishes, help me out!! I have an offer from Deloitte India LLP for Data Scientist as a Senior Consultant.

I have received an offer of 16LPA as fixed and 18 as all(Not Sure what if its Variable Pay or not)

YOE - 5 years

Also quality of work?

Is it fine? Thoughts please !

like
funnylike
like

Pltr results are coming tomorrow am. Buy/hold/sell?

like

I am stressing over growing as I’m slowly but surely realizing I am a more “executional” person vs. “strategic” person. How do I push myself and change the way I think? Or should I just give up now?

likehelpfulsmart

Hello Everyone,

#HelpRequired

Can someone please refer me for the below mentioned position at
Paypal.
I've been trying to reachout to my LinkedIn connections, but no luck.

Position- Data Engineer2
Job ID- R0095121

Any help here would be much appreciated.

Thanks.

like

Additional Posts in Finance

What company would you never want to work for and why? Company need not be in finance.

like

Associates: How many of you got promoted after being an analyst vs. got recruited post-business school?

like

Does the stub bonus after A2A promote have any variability? I know BAML hasn’t announced yet so looking at past examples

like

Besides working, how do you finance pros typically spend the weekend?

like

Had some credit card charge offs come up from U4 review and I didn’t payoff. Not proud of it from when I was younger but they’re off my report since it’s past 7 yrs but still within the 10 yr U4 review period. Will this impact employment?

like

Is fishbowl not monitored?!

How long does it take 'till you feel like you're good at the job?

demoting a rising MO 3rd year to 2nd year when lateraling to FO - y/n? not me, but saw my group do this

like

My $10,000 bonus came down to $6,200 after deductions. Does that sound right, almost 40% withheld?

like

Bose QC35 or Bowers and Wilkins P7 Wireless? I got a gift card this year and trying to buy solid headphones for train, traveling, etc. I really like them both.

like

Lots of talk about inflation, layoffs, hiring freezes, pay cuts, and stressful job shifts lately. Does anyone have any advice or encouragement to share for those who have been impacted or fear that they will be soon?

I would love to work internationally, but my firm doesn't have international offices to be placed in. Advice on how to make the move without changing industries entirely?

like

Anyone take adderall? Does it help u stay focused?

like

Post holiday party hangover is real AF right now

likefunny

Any experience with Air France business class?

like

How many of you golf? And what's your favorite golf course that you've actually played on?

like

I just got laid off and I just don’t know what to say “if” I ever get an interview. Any tips would be appreciated. I know when you get laid off, no one wants to hire you.

Been hearing a lot about the college debt burden. Let's compare... what's the debt number you've accumulated since graduating?

like

Serious note... When do you feel fulfilled the most in life?

like

How much work, if any, do you take home with you?

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal