What is the name of your state (only U.S. law)? New York State
I have been day-trading equities on behalf of myself for nearly 25 years via an retail broker. I am not a professional, but it is a very serious hobby of mine (I average about 1,500 trades per year). My wife is now working for a financial company which does allow for me to continue trading (as long as I stay away from specific sectors and follow the do-not-trade-list on certain securities). I don't mind this at all, but if she has another of couple of promotions, I would be put under the "pre-trade approval and a 30-day hold" rule before I can enter / exit my position. This would pretty much stop me from trading as I am a short-term investor.
Is there anything I can do that would allow me to continue trading just as I am doing now, without breaking any rules. Example: I know couples that one works for a bank, and the other one works at a hedge fund and the banking firm has no problems with that (because he/she is not trading for their own account). Can I register myself and make myself a hedge fund to also avoid my future issue? No, I don't wish to add other investors money into my trading money pool, but just wondering what my options are.
My brokerage account has always been under my own name (it is not joint) and I currently have all monthly statements sent to my wife's employer in case they wish to monitor my trades. Again, I am not trying to hide anything and am willing to do pretty much anything that would legally allow me to continue to trade for myself (I know that in reality that since I am married to her, it is really for both of us...)
Any and all advise in very, very much appreciated. And yes, I do wish to my wife to keep being promoted
I have been day-trading equities on behalf of myself for nearly 25 years via an retail broker. I am not a professional, but it is a very serious hobby of mine (I average about 1,500 trades per year). My wife is now working for a financial company which does allow for me to continue trading (as long as I stay away from specific sectors and follow the do-not-trade-list on certain securities). I don't mind this at all, but if she has another of couple of promotions, I would be put under the "pre-trade approval and a 30-day hold" rule before I can enter / exit my position. This would pretty much stop me from trading as I am a short-term investor.
Is there anything I can do that would allow me to continue trading just as I am doing now, without breaking any rules. Example: I know couples that one works for a bank, and the other one works at a hedge fund and the banking firm has no problems with that (because he/she is not trading for their own account). Can I register myself and make myself a hedge fund to also avoid my future issue? No, I don't wish to add other investors money into my trading money pool, but just wondering what my options are.
My brokerage account has always been under my own name (it is not joint) and I currently have all monthly statements sent to my wife's employer in case they wish to monitor my trades. Again, I am not trying to hide anything and am willing to do pretty much anything that would legally allow me to continue to trade for myself (I know that in reality that since I am married to her, it is really for both of us...)
Any and all advise in very, very much appreciated. And yes, I do wish to my wife to keep being promoted