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Hello fishes,
I am a BA and have a total YOE of 1.2 years. I am currently looking for opportunities to switch as I am not getting proper BA work in my current organization. I have a good knowledge of SQL, Python, advanced Excel & data structures and algorithms. I have also worked on .Net, C# & Angular.
Please let me know if there are any opportunities in your organizations. Wells Fargo ZS Associates Tiger Analytics JPMorgan Chase Swiggy Flipkart Barclays Goldman Sachs EY Walmart Fractal IBM Bosch
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I have not dealt with this situation before, so I’d like to hear from those that have. Where can I find more info on the legalities of this? My firm is not an international firm either, so not sure if I can roll the accounts or not.
They have a US mailing address but Canadian Permanent address.
Any help or tips from advisors that are familiar with this situation would be greatly appreciated.
Seems pretty heavy handed to me.
My firm (wirehouse/regional) I would suppose has similar rules with other broker dealers under FINRA/SEC ruling. If they keep their US address (physical) and don’t change it, then they are allowed to keep the accounts intact. Otherwise, once they change residency, all bets are off.
I had a trust account where we were able to simply have the client resign as trustee and they handed the responsibility to their sibling while they were overseas for work
Any 529, brokerage, and retirement accounts are restricted from any activity while the client is out of the country.
Hope that helps
Oh...and my broker dealer has a different rule for managed accounts, too. If there’s more than a certain timeframe where the client is out of the country, they can force liquidation. I think it is 2 years or longer
Canada is a very restrictive country when it comes to cross-border regulations. The regulations are in scope of any resident of Canada, which is the case with this prospect. The restrictions deals more with what a US financial institution can or cannot do for Canadian residents (i.e., no solicitation of investments). But I am not aware that US citizens living in Canada has to liquidate their US investments accounts, that seems extreme. I do know that certain domestic mutual funds can be bought by Canadian residents (case-by-case basis). OP - does your firm have a legal department that can help you understand what rules-of-the-road that your firm has in place for dealing with Canadian residents?
I think that’s the best approach. Each firm has different cross-border policies. Some firms don’t think the risk (getting fined by regulators) is worth it, while others have dedicated divisions just to focus on international business. Good luck!
You need to research what are the actual laws of each country