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      Pattern Day Trader / SEC

      What is the name of your state (only U.S. law)? Michigan People often argue whether a person using their own money (as opposed to a margin account) are subject to SEC rules regarding "pattern day trading." Does a person trading with only their OWN money have to maintain a balance of $25,000 in...
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      Investment Club / SEC Registration?

      What is the name of your state (only U.S. law)? Michigan Michigan does not require registration with the state for investment clubs. I want to manage a small investment club with the intent that it may partially finance an otherwise unrelated business. The investment amount will be under $25...

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