Portfolio Manager registration in Ontario

[HoundDogOne]

Quote from psytrade:

There has to be a way around it. Is hounds firm registered in ontario or elsewhere? Muscle, what if you just get in somewhere as a trader and run trades with scale? Like a real trading firm. You already have the CSC, etc, and some firms have buying power 10-100 times what you could ever manage to put together in your first 5 years in business. Or go to the states where you dont have to be a portfolio manager to trade.

I'm pursuing these alternatives myself, but am currently not as far along as you. I also have more ideas in terms of getting yourself in a situation where you are well capitalized without the legal b.s, but I'd have to pm them.

I found a way around the Portfolio Manager conundrum in the 90s.
Once you get well into 6 figures Net Capital it becomes an issue.

I was offered a Portfolio Manager apprenticeship in 1995...
By a guy who now manages about $2 billion under the name of Acuity Funds...
But did not want to be his Serf for 3 years...
It's just my independent nature.

So I became a US broker-dealer based in Canada for 6.5 years (1998-2005)...
(Probably not an option today)...
But the amount of compliance and regulatory filings...
Especially since the new laws in response to 9/11...
Made me a slave to NASD examiners that would harass me for no good reason...
And issue conflicting rulings, etc.

Now I'm managing over 7 figures as General Partner of a Limited Partnership...
And am ** free as a bird **...
Falling back on the "friends and family" thing...
Which in Ontario is a "gray area"...
Because you can't stop people from managing the Family Money.

Securities Regulations are FULL of "gray areas"...
And arbitrary decisions made by examiners...
Especially when dealing with cross-border issues.

As long as I keep a low profile...
And DO NOT EVER try to advertise or deal with the public...
I should be able to build my business up to the $5-10 million Net Capital range and do perhaps 1,500 trades/day...
Which will be quite enough for me... and make me happy.