Liquidation of Portfolio For Internship
Hi all,
Trying to understand what rules & regulations look like between sectors (IB vs S&T vs AM) in terms of personal portfolios, Roth IRAs and crypto. During your internship / FT offer did you have to liquify your holdings? Did you transfer your account to someone else? Can you still trade crypto?
Would love to learn more as I am in an AM position but I think regulations are different across the board depending on dept and firm. Just want to be prepared for the upcoming years!
Thanks.
Hi NoBrim, check out these threads:
More suggestions...
Hope that helps.
Well regarding crypto you can always trade those on exchanges overseas or utilize a decentralized platform with no KYC lol. Banks and SEC can't go and audit users on a literal decentralized protocol built on computer code right? Don't think SEC knows everyone's wallets regarding cold storage etc. I'm at a crypto-native firm and one of the jokes was "lol at least we can still trade our personal accounts while we work".
I think restrictions on trading may be common but I have not heard of any requirement that you must liquidate your portfolio because it's accepted that everyone will invest their savings in something and the potential for mischief if you don't buy or sell should be quite limited. Reporting of trades/positions, needing to get pre-trade approval, restricted stock lists that you cannot trade and minimum holding times for positions are some of the restrictions I have heard about.
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