Do web sites that gives market advice to traders ( like PageTrader or sites that advertise in magazines such as Active Trader is advisory services/educational services) have to be registered with any SEC or futures body to be compliant? Just wondering who's governing these sites.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Rules governing advisory web sites
- Thread starter shortskirt
- Start date
no need to register with the SEC, etc. these sites are protected under the "publishers exemption" in most cases.
fortunately, in USA, no one "governs" the free press.
regards,
surf
fortunately, in USA, no one "governs" the free press.
regards,
surf
Quote from shortskirt:
Do web sites that gives market advice to traders ( like PageTrader or sites that advertise in magazines such as Active Trader is advisory services/educational services) have to be registered with any SEC or futures body to be compliant? Just wondering who's governing these sites.
No need to register if you are giving securities advice. However, if you are doing futures its best to error on the side of caution and have a series 6 coz every now and then the NFA goes crazy. Any site though that generates a lot of complaints to the SEC or NFA will be looked at, and if the complaints are validated it will be shut down..so in that regard even without registration there is oversight.
Quote from Brandonf:
No need to register if you are giving securities advice. However, if you are doing futures its best to error on the side of caution and have a series 6 coz every now and then the NFA goes crazy. Any site though that generates a lot of complaints to the SEC or NFA will be looked at, and if the complaints are validated it will be shut down..so in that regard even without registration there is oversight.
If a site is complying with the CFTC/NFA, they will not be shut down, unless violations of their REQUIREMENTS are found. For example, if people complain that it is too expensive or does not accurately predict the market, that is not grounds for shutdown.