Blue Sky Laws re expat

[radiowave]

What is the name of your state? Texas?

U.S. citizen residing abroad needing to trade mutual funds from account established some years ago in Austin, Texas. Broker now says Blue Sky Laws do not permit the use of broker's web site to trade mutual funds because of foreign address. But may conduct trades by telephone. In addition to Blue Sky Laws, broker's agent said that 128-bit encryption used by the site was prohibited from use by anyone outside of the USA.

Contrary to this information, have been able to sell mutual funds on the site, but not purchase.

Please advise on how the Blue Sky laws and 128-bit encryption use affect a retired expat wishing to trade his mutual funds online (which is much cheaper than over the telephone).

Many thanks.

 

[Jeter]

You may want to post this question in the forum entitled "internet law".

Jeter

 

[vrzirn]

I do not know if it works from international to US but you can try. Dial 10-10-811, then 1-area code-# Only 5 cents minute-50 cents minimum. I do know it applies from US to wherever. Company is Varitec.
You can also buy a phone card on internet for cheap pre-paid calling.

 

[ALawyer]

Ask the firm to write to you and cite their basis for denying you access by Net. BUT Whether the broker's reason is based in law or misunderstanding, you may have to move your account to another firm if that is the firm's policy.

As far as 128-bit encryption goes, there was, and may still be, a US government policy prohibiting its export from the US as it can be used to send secret messages that are uncrackable, even by the top intelligence experts. That does NOT mean that a clever Argentine, Canadian, Chinese, Indian, Isreali, Japanese, Saudi, etc. may not have invented his or her own 256 or 512 bit system.....