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I am only trading futures now. It pisses me off, I have almost a decade of experience and this shit is happening. Oh well.

No but I know people there...why do you ask?

I don't know...Time will tell.

No, this still won't work, as they are doing business still as a broker dealer w/o being registered. Without being registered you can't even collect commish. Although I do wonder this...Maybe someone has the answer. What if an LLC, opened a retail account didn't charge beyond the base...

I can't really comment on that because its really on a case by case basis. The only isssue is this, I was told directly from the SEC that deposits are a no no and if there is a deposit, it is to be treated as a customer/client relationship.

After continued conversation with legal counsel, it is very obvious there is no way around this. LLC's are in clear voilation of these rules for broker dealers. I actually understand what is going on now. Capital deposits are no good. I would suggest getting your license and going going...

Ok I have made some calls and this is coming from the horses mouth and it has taken some time to get a direct answer as the SEC will only give you generally info and will not give advise. All of these firms are acting as broker dealers by ingaging in securities trading/activity. All trader...

That is correct. That being said..you need to register with the BD directly. I got a PM earlier, stating they were licensed but wanted to go through an LLC because they were too lazy to fill out the U4.

Depends if you are licensed or not. Hear is how I think it is going to roll. LLC's are going to have to restructure their organization because deposits will be done away with. For companies that are registered as BD's such as Bright if it does every affect them, it won't be for a while...

I just want to make it clear that only the LLC's have acted in this manner. Those that are licensed are business as usual.

I know that Assent is taking precautions and a lot of the LLC's have returned deposits. I believe the only thing Assent and Bright have to worry about is, if the SEC will do away from deposits, regardless if one is registered or not. IMO

BTW... Ive been an investor and trader of stocks, options and futures for the last 24 years. Good luck little boy. [/B] Hell that is almost as long as I have been on this earth, lol. I am getting old, going to be the BIG 28 this year, lol.

Whether you are licensed or not and you put up a despoist. The relationship is going to be looked at as a customer account(Retail). As it was said before, the SEC wants employees not independent contractors. This is the bottom line.

I was born in 80..is that when the rumor was going around they were buying up all the silver?

Maybe it all comes down to bad business and poor American values. Okay, we see the problem...what are we going to do about it?

Some editing was done but if you REALLY want to send that letter. He goes the edit. I write to you today to discuss my concerns about the sad state of our country with respect to our economy. Under this current administration, we are changing from a great capitalist superpower to a...

You can say that again.

What are you some funny guy? So what is your take?

So maybe Norway isn't the best example, I agree with you there. As we live in America, for sometime now we have relied on credit for too long. And Americans don't save anything, I remembered when I got my first job my dad MADE me save half of my take home..LOL. As a kid it didn't really...

Credit is not needed for growth BUT investments are needed. If you look at Norway for instance, no debt and have a moderate growth rate. I believe they are the second richest country in the world based off per cap income. The world is changing however we aren't adapting very well. There...