Is it normal for law firms to put a blanket ban on trading all securities? Im a Junior lateraling to a new firm, and I’m reading it for the first time, and don’t feel too great about that

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Yeah. You can invest in index funds and ETFs. If you invest in specific stock you technically need approval. Depending on how you view investing, this shouldn’t be that big a deal because index funds are typically a strong and safe investment. however I do know some people that ignore this rule and nothing is happened then after several years. I personally wouldn’t ignore the rule

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Are you sure that's what the policy actually says? I have a pretty hard time believing that.

In any case, no, that's not normal.

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Agreed. Trading individual securities usually just requires pre-clearance to screen for conflicts.

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This would be a deal breaker for me if this is the policy.

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We just need preclearance to invest in individual stocks. I’ve seen the policy save some people’s butts.

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My v10 does not allow me to trade individual securities even with clearance. I thought I had misread the policy, but nope.

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Are you a day trader or a biglaw lawyer? Pick one.

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Yeah, we have that policy. If you want to trade you have to get permission and jump through a bunch of hoops for each individual trade. That said, people still trade without notifying the firm. Technically it’s probably illegal but odds of getting in some kind of legal trouble are fairly low I would think

What you're describing is normal, and is not a "blanket ban on all trading" like OP described. Apparently a very small handful of firms have such a policy.

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