I stumbled upon this post while searching the Pro Firms forum (thread title: Generic screwed me!):
With the following response:
Based on this, I'm under the impression if you live in Pennsylvania, you're precluded from getting a Series 7 sponsorship from a non-Pennsylvania-registered company despite working there.
Is this true? What if you can 'provide' a valid address within New Jersey but still (in reality) primarily live in Philadelphia?
I'm wondering because I'm currently living in South Jersey, and planning on moving to Philadelphia, and hoping to sign on with a prop firm to continue my trading career.
I know the easy answer would be to stay in South Jersey and not have to deal with the problem, but let's assume I'm unable/unwilling.
Quote from swinger:
So I agreed to start my trading career with Generic. I got my Series 7 study materials, and I have been hitting the books hardcore for the last two weeks. And then I receive a phone call today: "Umm, we have a problem - you can't trade with us because we aren't registered to do business in Pennsylvania."
Isn't it so nice of them to tell me now? After I have been psyching myself up to finally start trading professionally... ugh. So it's either I move to New Jersey or find a firm that is registered in PA.
(the rest snipped)
With the following response:
Quote from Don Bright:
We do not register in Pa because of their weird regulations, etc. They are trying to keep their exchange in business. We have opened in Cherry Hill, with one of the Philly Exchange directors as our manager...and our Compliance Officer is there as well (she was a big whig at the Philly Exchange before joining us).. I'm not recruiting, but we are there if you want to speak to us. Cherry Hill is pretty close to Philadelphia.
Based on this, I'm under the impression if you live in Pennsylvania, you're precluded from getting a Series 7 sponsorship from a non-Pennsylvania-registered company despite working there.
Is this true? What if you can 'provide' a valid address within New Jersey but still (in reality) primarily live in Philadelphia?
I'm wondering because I'm currently living in South Jersey, and planning on moving to Philadelphia, and hoping to sign on with a prop firm to continue my trading career.
I know the easy answer would be to stay in South Jersey and not have to deal with the problem, but let's assume I'm unable/unwilling.