Can you still day-trade if you work at an Investment bank? What division/department are you not allowed to day trade-in due to the Chinese wall/conflict of interest or risk of insider trading? Can you still invest?
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Policies vary across banks, but most have a firmwide policy with something along these lines:
1. Minimum hold policy (often 60 days)
2. Need to get compliance approval for each and every trade
3. Some securities restricted; this one varies, at some firms you can really only trade ETFs, at others you may be able to trade single stocks but may occasionally get rejected
All of these add up to you can't really day trade if you work at a bank. Even someone in a random back office job is subject to the firmwide polices; IB might have a tighter list of restricted names. If you are trying to day trade at scale you will spend your whole day filling out the trade approval forms. Most people trade monthly or quarterly and just buy ETFs.
Seem tedious. Is it just investment banking that has these strict rules? Are they other finance jobs that may also have the same strict rules in place that should be wary of such as hedge fund, private equity, m&a, asset management or general sales and trading or consulting?
I am guessing investing is fine since it is long-term.
Any large bank or financial firms will have these rules, so S&T, M&A (which is investment banking), etc, asset management is also strict, larger PE firms will too. I think smaller MM/LMM PE firms would care less.
Realistically no finance job is going to let you day trade - it's both a compliance issue and it's also a lot of time spent not doing your job. It's fine to buy a few stocks here and there but if you are spending time actively trading during the day (beyond just quickly investing some of your salary) you will get told to stop
Actually I’ve been at two bulge brackets and index options are excluded from the 30 or 60 day hold periods. So you can day trade regarded SPX SPY QQQ and TQQQ. But you probably won’t be focused on your job
so I work for one, and you are fine as long as you don't tell them. there's no way for them to know unless you tell them.
This is terrible advise and they can absolutely find out without you telling them
doing this for 5 years still here :)
“I’ve been driving drunk for 5 years but haven’t been arrested or killed a family of 5 yet so you’re totally fine to do so”
Absolutely based. Real Evropean Faustian spirit right here
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