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?
| +4,085 | Bank of America - Juniors Strike to start Monday May 6th | 442 | 7m | |
| +857 | BOFA ALREADY TRYING TO COVER UP THEIR TRACKS | 80 | 4s | |
| +609 | This is a dark day for Wall Street. | 46 | 18h | |
| +484 | BofA Associate Death - WSJ, FT, CNBC, Bloomberg | 51 | 2h | |
| Leo Lukenas was his name. Fundraiser for His Family is Here. (Bank of America Associate that passed away) | 11 | 12m | ||
| +206 | How to strike without being fired. | 24 | 40m | |
| +194 | Analyst at Bofa FIG-Thoughts | 29 | 47m | |
| +171 | Big Layoff at Barclays - 5/1/24 | 88 | 1d | |
| +167 | Hey WSJ, BBG, CNBC, FT, it's been more than 72 hours that this BofA IBD Associate was reported dead | 23 | 16h | |
| +154 | BofA List | 37 | 17h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
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
Et cupiditate eum dolorem rerum unde et sapiente. Est inventore beatae ea voluptas ad. Non qui minima repudiandae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...