{ "media_type": "text", "post_content": "From a compliance standpoint, how will they gain knowledge that I have been using another brokerage to day trade stock options?", "post_id": "611322ee92e56e0024f75e12", "reply_count": 31, "vote_count": 7, "bowl_id": "553769a790f5eebe1d2a0f92", "bowl_name": "Finance" }

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

Additional Posts

Looking to get a few certifications, I have worked in both IT and HR consulting and am trying to decide between ITIL, SHRM, and PMP. Any thoughts on which would be best for future, quickest to get, hardest test? I get the cert paid for and a bonus upon completion, so trying to decide which one to pursue or the order if I want multiple.

like

In week one of a new role with nothing to do...advice on how to spend my days until they set me up with some work? I’ve done some deep brand research to start but at a loss

like

when I got laid off couple of months back, one of the leadership I worked closely with for couple of years said that my skills are not right for the xyz firm and that I should take it - contd

likeupliftinghelpful

Hey 🐟 'es , How's the work culture at Capital One?

likehelpful

Getting ready for PMP exam. Any tips for last minute prep or for the actual exam? Already took course, books and doing flash cards.

like

Does Big4 hire ACCA individuals from international countries (they will not need visa sponsorship and would be legally authorized to work in USA).

Approved for in-lieu of travel next weekend. Due to team decision, we're now WFH next week. I assume the change fee on the flight to get home instead of client is on me, correct?

like

H1b extension applied in June 2019 -> approved in June 2020 😐

like

Hi All - I've below offers and request a suggestion to pick. YOE: 11 CTS: 23lpa includes 1.5L variable, joining bonus: 1L; Designation: Manager but role would be lead Wipro: 20lpa includes 2L variable, Designation: Tech Lead Cts looks to be the option but I'm not clear on the reasons for high attrition at CTS. Help me out pls.

like

My new job is remote role and looking to move to NJ to save more money. I don't go into Manhattan often and not too social either. But I do stay home a lot and enjoy spacier and nicer buildings. Is there anywhere in NJ that I should look for <1 hr commute to Manhattan and nice apartments? Thanks in advance.

like

I’m making progress in Google S&O interview process but I have a few questions about public transportation to Googleplex from Stanford campus. Are there reasonable options?

like

Anyone who gave the CFE exam recently care to share some tips & tricks on the prep ? I am contemplating to give it in next 2-3m.

like

Thoughts on base salary or TC for internal comms? Specifically — NYC, 14 YE, big tech.

like

Let's do a salary thread for RPA pros: Post your - Salary - City - Years of experience - Qualifications you hold. Fishbowl will circulate the data once we've reached 100 responses, so make sure to share with your coworkers.

like

Thoughts on using wealthfront/betterment vs just buying low cost index funds (voo and vti) on Robinhood? I’ve been doing both throughout the last 1.5 years and have seen much better performance on the latter. Curious if people think there are other benefits to using wealthfront ?

like

I exited to FAANG from big4 and part of me is seriously thinking about getting an mba to go to mbb. Does that make any sense?

like

Looking for advice. Do you think it’s best to stay with a solid team/supportive management but lower salary or jump to another agency for more $? Learning how much I’m underpaid from recruiters. 😕

like

Is the dyson airwrap worth it? I have a curling iron, a rotating brush, and a straightener that kind of do the job. (Though i’m not a pro with the curling iron). Would the airwrap have any additional benefits, other than saving space and reducing number of devices? It’s so expensive I have to justify if I’ll spend so much..

like

Las Vegas agency circuit? Worth the relo or stay away from the desert?

likeuplifting

What is the internal partner promotion to external hire ratio at your firm? (And similar ratio at public firms for PPMD or partner equivalent )

likesmart

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
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

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

{ "isSet": true, "allowed": true }

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

For account settings, visit Fishbowl on Desktop Browser or

General

Legal