Incoming Analyst Investing Restrictions
Hi all,
I searched the forum to see if this topic was previously discussed, but had no luck finding anything definitive.
I am an incoming full-time analyst starting this summer. Am I held to the same investing restrictions as a full-time employee? During my internship, I was instructed to follow the firm's personal trading policy, but am I still held to these procedures in the time between internship and full-time start?
I have some cash saved up that I would love to invest, but want to make sure I am not violating any regulations.
No, but be prepared to exit any single name or options positions (depending on your firms policy) on your first day
This is a Compliance question, best to email the Compliance department and get its guidance in writing in the form of the email reply. Normally, I believe no intern is subject to any restrictions because interns are not registered representatives of the firm, e.g. I doubt you will have any Series licenses. Normally, you could do whatever you want until the start of your internship, and again after you finish interning there. I believe normally you could just make a full disclosure, and not have to exit any positions. If your internship is in Equity Research, that might be a whole other ballgame. But since your firm has policies in place that go above and beyond the normal standards for full-time employees, you will need to follow them since the firm decided to enforce those trading places for interns too. If I am incorrect about any of this, please let me know since trading seems to be increasingly popular
I liquidated mine. It’s not worth the hassle of having to get trades approved and obey by the standards (usually 30 day minimum holding periods, etc). Either toss it into a few index funds or invest it into something company related. I am able to invest it into our private equity fund
You aren’t bound by their trading policies until you start. But you may have to sell or not be allowed to sell without jumping through a million compliance hoops. Would just stick to ETFs etc. the closer you get to starting.
Et aut molestiae aut ipsa eum quis velit architecto. Est consequatur optio sunt atque error. Aut dolorum voluptates assumenda autem consequuntur. Est sit magnam in.
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...