Hi All
Got a return offer after my internship in CB at a BB - was looking to properly get into my investment journey as I have now a source of income from next year
But by reading here there are some limitations to that ? Can someone pls advice the rules about this ? Can I invest in ETF’s / individual stocks now ? Want to make worthwhile investments now
Many thanks
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You can do whatever you want now. But as soon as you join the company, they will make effort to brief you on their compliance rules. I advise you listen and read.
There are very few universal rules, different banks and different divisions and even different teams have different restrictions according to how cautious the bank wants to be and the regulatory exposure of certain teams.
Universal rules would be like if you're in tech coverage banking, you cannot invest in tech. That is you cannot invest in tech ETFs, tech companies or any ETF with outsized exposure to tech. Usually broad index ETFs are fine.
You may also have to move your stocks to the banks authorised brokerages (or the banks own internal brokerage).
You will likely also have to declare all your investments and should the bank be "restricted" on any of them, you may need to divest or may not be allowed to divest until that restriction is lifted.
You are often not allowed to invest in derivatives - that can include CFDs.
You will also probably have to pre-clear all traded assets you invest in from then on. That is any ETF, any stock. Sometimes open ended mutual funds are okay because they're not traded.
Working in a tech group and not being able to invest in tech ETFs sucks
Thank you
For context I was considering trading 212 and most investment in s&p500 , maybe gold and some tech
So seems like I can buy individual stocks as long as I am not in that coverage ?
You definitely cannot buy single name stocks at any BB
For instance if I buy a tech stock now - would I need to sell it by the time I join the BB next year in July ?
You should make all decisions now (unless they are broad based ETFs) under the assumption that you'll have to divest it all as soon as you join. What I stated above are likely rules. They are not necessarily exhaustive.
No one can tell you what your bank's exact compliance rules are except the bank. So it's useless to debate specifics here.
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