Interesting... further does the broker provides information about trades or all transactions in the accounts? For example, does it provide infor on cash deposits/withdrawals? If not, it may seem an easier solution to transfer the long position between the accounts so that it immediately offsets the short.
Employee personal trading guidelines
- Thread starter Matt Houston
- Start date
OK this has all been very enlightening but I am paranoid now, how do I get the thread deleted?
I will drop you all a message to let you know if I end up getting the sack (terminated for the yanks)
I will drop you all a message to let you know if I end up getting the sack (terminated for the yanks)
Maybe I'm confused.
Is you job and trader? That's what I assumed and assumed the rules were for that.
If you're talking about personal trading while at work, at least in the US, they can't dictate anything you do with trading, but they can sure dictate you don't use their systems to trade. I've known a few people who lost jobs for trading while at work.
Otherwise, you agreed to the terms of employment. That's it. If you don't agree with them, you shouldn't have taken the job. Move on to somewhere else or learn to stand behind your word.
It's called integrity: doing the right thing because, it's the right thing to do. Period.
Is you job and trader? That's what I assumed and assumed the rules were for that.
If you're talking about personal trading while at work, at least in the US, they can't dictate anything you do with trading, but they can sure dictate you don't use their systems to trade. I've known a few people who lost jobs for trading while at work.
Otherwise, you agreed to the terms of employment. That's it. If you don't agree with them, you shouldn't have taken the job. Move on to somewhere else or learn to stand behind your word.
It's called integrity: doing the right thing because, it's the right thing to do. Period.
Was going to give a rant and put forward my views but to keep it brief I didn't start this thread to get lesson in morality, I'm a big boy I can decide for myself what's right and wrong. Please free to start another thread on how to scrape a living in this world while staying true to you values.
I am not a trader BTW, in fact I'm as about low in the food chain as you can get.
I am not a trader BTW, in fact I'm as about low in the food chain as you can get.
Quote from Trad'nUp:
Then I don't get the question, or it's irrelevant. If in the UK an employer can tell you how to handle your personal business, I'm even more glad to be an American.
Land of the free, USA, USA.
Everyone read Ayn Rand. Goodnight.
I can't comment on the UK; I'm in the US. I work in the pharma industry--insider trading is possible for me on a daily basis. I could have been a zillionaire by now if I did it.
If you figure you won't get caught, you are most likely right. But the problem arises if someone complains. One of my company's clients complained, for example. They were within their rights; considering the action in their options a few days before one of their announcements, I think it is very possible that there was some insider trading, although I doubt that anyone in my company did it. Based on their complaint, the securities regulatory agency asked our company for the names and social security numbers of everyone who works there. These were "voluntarily" disclosed. From there, they can go to your tax return. And if they see anything on the return they don't like or there isn't enough information for them there (here you can write "various" if you have traded a lot of stuff), they can subpoena your trading records. In the US, I am sure the broker would cough them up with or without your consent.
You don't want to go to jail, do you? Buy yourself some mutual funds. Freedom is more important than money.
If you figure you won't get caught, you are most likely right. But the problem arises if someone complains. One of my company's clients complained, for example. They were within their rights; considering the action in their options a few days before one of their announcements, I think it is very possible that there was some insider trading, although I doubt that anyone in my company did it. Based on their complaint, the securities regulatory agency asked our company for the names and social security numbers of everyone who works there. These were "voluntarily" disclosed. From there, they can go to your tax return. And if they see anything on the return they don't like or there isn't enough information for them there (here you can write "various" if you have traded a lot of stuff), they can subpoena your trading records. In the US, I am sure the broker would cough them up with or without your consent.
You don't want to go to jail, do you? Buy yourself some mutual funds. Freedom is more important than money.