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First I understand that forums are not places to receive final legal advice so please don’t give me some answer about why I would come to a forum to ask this question. I simply am curious if anyone can point me in the right direction or if anyone has the same situation.
Currently, I am not a financial adviser or employed by a FINRA firm, but have considered doing so. I know that FINRA has rules(rule 3270 for example) regarding “selling away.” In other words there are very strict rules concerning any other outside business activities you may have. From my understanding if I were to become an employee of any FINRA firm they could at the least say that I cannot publish a strategy on C2. However, is publishing on C2 and charging inherently not permitted if you inform your FINRA employer? I am curious if anyone is a member of a large FINRA firm that likely doesn’t even know what C2 is.
As it states in the C2 page below I don’t have to register with SEC or any government body, but I am curious if FINRA will permit working for a FINRA firm as a financial adviser and publishing on C2. If FINRA does permit it does anyone have first hand experience having gotten their firm to approve that?
Take this with a grain of salt. A long time ago, so I don’t know if the rules have changed. I used to work for a clearing firm regulated by FINRA. We could publish on 3rd party sites, such as C2, but we had to notify them of every signal/trade 6 months in advance of publishing that trade. So it made it impossible to do any short term strategies.
Out of curiosity did you have to give warning for trading in your own personal accounts held at different firms if you weren’t publishing? Saw you worked at Schwab and placed trades at TdAmeritrade did you have to give 6 months warning for those even if you weren’t publishing the trades to the public to follow for a fee? I know some firms won’t even let you trade elsewhere.
Back then, the rule applied to personal and any business the person owns (20% or more). I spoke to a couple of friends yesterday who are managers at clearing firms regulated under FINRA and they stated they still require their employees to notify them of all stock purchases/sales 6 months in advance, and all business publications/etc to be complaint with FINRA.
However, working directly for FINRA the rules might be different.
