Quote from def:
You have no clue about regulators out here who are quite strict. Brokers who do not follow the rules and regulations will be not be allowed to conduct business. Interesting enough, you mention Singapore and hong kong which have very strong regulators and segregation rules while touting the US. You might want to look in your own back door and track down where cash went missing on the client sde this past year with MF and PFG. LOL.
@def
anyone who ever lives in hkg, understands exactly what i said and what i meant.
having strict rules and regulations is one thing--looking good on paper.
applying those rules evenly across the populace is another dimension altogether.
any kwai-low (a somewhat derogatory term used to refer to foreigners) living in hkg would understand the extent of the application of the laws governing brokerage practices, particularly if you are still climbing the ladder to have an office of your own, hopefully overlooking from the peak somewhere.
as an ib and where you currently are positioned, you are just too far removed from the main action to even privy to even know what your honorable md are up to.... from day to day; in order to keep paying you and others on time.
funny that you should mention pfg et al....
take a good look at the evidence submitted for claims which might or might not be ever reimbursed in full or otherwise....
now, my friend, do i or don't i know what i am talking about both in real time and/or in sim.... and/or what goes on in the u.s., euro, aussie or asean et al markets.... LOL