5 matching records.
The technical issue caused the OEX to remain open after equities closed, leading to a put exercise that resulted in a $25,000 fine and regulatory violations. The speaker was fined and faced ongoing legal consequences.
Scott was allowed to trade on the platform, and the company supported and promoted trading among its teammates. However, there were certain regulations that required compliance monitoring of trades. Pre-trade approval was not required, and trades could be made without restrictions, provided they were connected to a brokerage firm for compliance oversight.
Working for a company offers structure, financial stability, benefits like health insurance and education, and reduced compliance risk. It allows individuals to focus on skill development without the burden of oversight responsibilities. Self-employed individuals, on the other hand, have unlimited potential and full creative control but face higher risks and responsibilities.
A Canadian cannot open a brokerage account in the United States due to regulatory restrictions imposed by the Canadian government. These regulations are not related to U.S. firms, which are generally open to accepting accounts from any country. However, Canada is a 'no-go' for U.S. firms due to specific regulatory requirements. Canadians can open a U.S. entity, such as an LLC or corporate account, but this involves additional costs and regulatory hurdles.
PDT accounts, which are pattern day traders, are not being swept up by the street. The last day for firms to enforce the PDT rule is today. Most firms will start enforcing it tomorrow, but some may continue. If a trader violates the rule and does not reset, their account will be shut down. However, they can trade again with no restrictions the next day.