Hey guys, I was wondering if investing/trading was normal while working in an investment bank regardless of the division (IBD,ER,AM,S&T,Corporate banking etc...) what is the process that u need to follow without getting in trouble with the SEC. Because making a decent amount of money and not investing it for the future seems like a huge loss for me. Anyone insights?
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Your firm will have a "restricted list" that you cannot trade on. This often includes a lot of companies so definitely not ideal if you trade a lot but its just how it is. They'll cover the timing / limits during training
yeah im not looking for trading specifically just investing in etfs or companies for the long haul
you'll be okay. Im sure there will be some slight firm-specific restrictions on what funds you can buy but it definitely wont be an issue
ETFs: mostly ok, unless you happen to work in some extremely specific sector with an associated ETF. Here things will get blurry
Companies: that’s a case by case scenario. It is here where they are much stricter as any sign of insider trading is banks #1 fear these days (ok maybe not #1 but top 5 for sure)
we have an HR portal site that has all the information you referred to. maybe your firm has something like that?
Usually a webpage on the intranet that you fill out w specifics, and then it has to get approved. You prob can't do single names, and if you're in coverage, you prob can't do indices in the sector you cover.
You generally need group head / compliance approval for individual trades, although there is a sector ban if you are in a coverage group (must hold securities for a minimum of 30 days as well). Non-sector specific ETFs don't require approval. Only issues i've had were when TOs were announced (had to wait for 15+ trading days for approval for some reason).
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