wilmott.com

QuoteOriginally posted by: AlanI'd say what should stop you is common sense. It's a question for a security's lawyer, not a Wilmott forumRubbish, any trader needs to deal with set - ups otherwise you're not serious

QuoteOriginally posted by: ctabetterQuoteOriginally posted by: AlanI'd say what should stop you is common sense. It's a question for a security's lawyer, not a Wilmott forumRubbish, any trader needs to deal with set - ups otherwise you're not seriousThe majority of the members here are employees or consultants to large registered entities. It's not the trader's job in an IB to worry about these details.

I won't do the LMGTFY thing again, but really, there is a ton of information out there, even if you don't like it: Do I need to be authorized?

As I understand it, the way to get around this is with 'managed accounts'. For example, Fred opens an account with a broker in his own name. He authorises you to make trades on his account. However you will not be authorised to withdraw cash etc. It is his account in every way except you can make buy and sell orders with his money. Outside this, you will typically charge Fred a management and/or performance fee but at all times the money is held in Fred's own (segregated) account.

That's the same as trading as a partner in my own firm (with my partners backing with their capital), so I am right.

QuoteOriginally posted by: Traden4AlphaQuoteOriginally posted by: ctabetterQuoteOriginally posted by: AlanI'd say what should stop you is common sense. It's a question for a security's lawyer, not a Wilmott forumRubbish, any trader needs to deal with set - ups otherwise you're not seriousThe majority of the members here are employees or consultants to large registered entities. It's not the trader's job in an IB to worry about these details.bank " trader " ? LOL come on pull the other one , everyone knows banks are crap at outright trading.

QuoteOriginally posted by: ctabetterQuoteOriginally posted by: AlanI'd say what should stop you is common sense. It's a question for a security's lawyer, not a Wilmott forumRubbish, any trader needs to deal with set - ups otherwise you're not seriousSure, why not -- get your legal advice off the internet. Maybe there is a mobile app for this.

QuoteOriginally posted by: AlanQuoteOriginally posted by: ctabetterQuoteOriginally posted by: AlanI'd say what should stop you is common sense. It's a question for a security's lawyer, not a Wilmott forumRubbish, any trader needs to deal with set - ups otherwise you're not seriousSure, why not -- get your legal advice off the internet. Maybe there is a mobile app for this.LOL!I don't think ctabetter is looking for advice. He seems entirely convinced that his logic trumps the law.

This may be relevant for our adventurous OP:FCA consultationThe relevant section is the one on equity-based crowdfunding.

At last something useful - it's a start.I think net funding is the way to go for very micro - fund managers like me. It's unstoppable.