GME & 30 Day Holding Compliance Violations: How Fucked Am I ?
I day traded some Meme stocks. Made couple hundred bucks. Completely forgot about the whole 30 Day Holding Period Policy.
Compliance team sent me an email "reminding" me that 30 Day Holding Policy is still a thing in the light of the "Gamestop incidence". For some stupid reason, I panicked and sold the rest of my positions thinking holding thr meme stocks would cause violations.
Ironically, I violated the 30 Day Holding Policy AGAIN trying to prevent violating it.
I sent the Compliance team an email telling them I fucked up but I pretty much admitted that I did violate the holding period. I made couple hundred dollars and have been working with market data (dated prior to GME incidence though). How fucked am I????? Serious replies only plz.
Are they going to slide this over? Fire me? Report me to the regulators?
Compliance are such assholes when it comes to this stuff. I messed up by changing my 401k contributions into different ETFs and they they dinged me for not preclearing it first. Didnt know you had to do that. Anyway I got yelled at by the god damn head of my product group. Like my MD’s boss’s boss - it got escalated that high. I have never met the guy and idk if he even knew I existed before this. Basically he went on a rant about integrity and how we must maintain brand awareness. An utter crock of shit. One of the main reasons I am leaving my bulge bracket to be honest. The culture fucking sucks
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