forced to change...

[unuzualsuzpect]

FLORIDA

i have a high position at bank of america. i trade and invest with td waterhouse. (www.tdwaterhouse.com) today i was informed that i must close my account at td waterhouse, and move all money to bank of america. is this legal?

 

[ALawyer]

Yes. There are tradeoffs between the personal values of individual privacy and freedom of choice of whom you deal with and the obligation of a registered investment company and adviser to monitor the securitiies accounts of its staff to make sure that they are not engaging in trades on their own behalf using inside information.