Quote from mgzheng:
Thanks a lot for your links on the list of foreign index futures granted "no-action relief". Is there a list of foreign index OPTIONS granted "no-action relief"? Thanks ahead of time.
Also, is it really the SEC prohibiting US residents/citizens from trading foreign cash settled index options or is it just the brokerage firm (IB in this case) not allowing such trades? I would think it's really the SEC right? Otherwise, IB would just say "we don't allow it". I don't think I have to spend a day calling SEC on this one.
So let's say a US citizen/resident is advanturous enough to find, say a brokerage firm in Europe, that allows him to trade European index options. What are the consequences if the SEC finds out? Heavy financial penalties? Jail time? Banned from working in the financial industry for life?
