How will my company find out I have a personal trading account?

Hello,
I work for a major bank as a porfolio analyst and am not allowed to trade equities. My question is....I opened up a personal trading account for the first time in April and am up in the market. I own about 12 equities now and have not disclosed anything to my employer.
What are the chances they will find out? I am using TradeKing as my broker.

 

I'd say the chances are greater that the SEC will find out...

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

Should have had your brother or parent open one in their name and let you trade for them.

********************************* “The American father is never seen in London. He passes his life entirely in Wall Street and communicates with his family once a month by means of a telegram in cipher.” - Oscar Wilde
 
Best Response
Will32:
veritas14:
Should have had your brother or parent open one in their name and let you trade for them.

http://www.telegraph.co.uk/news/uknews/crime/6780821/Dentist-and-son-ja…-trading.html

Doesn't always work out too well.

On the markets side he would likely not be privy to non-public information anyway (and I would hope he wouldn't be stupid enough to trade on that), I think he is just talking about how firms usually require all employees to: 1. Not trade in their asset class and/or 2. Go through their broker and clear trades.

As far as I know this would not be an issue for SEC or FSA, just with the firm in question.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

As a portfolio analyst you might indeed not be able to trade any equities, though that would still be surprising. Generally is is with compliance's permission and a set holding period. As for how they'll find out, it will likely come when you access your account using a company computer/tell someone who has something to gain by reporting you/fall afoul of the SEC.

 

Man you are sure dumb. IMO I would close that account right now and hope that it never gets discovered.

Not only would you get fired, you could get busted from SEC and other. That is far worse than getting fired. Usually they go way over the top with a fine and ban which to me seems out of proportion with the infraction, but that is the way it is.

If you have to trade, open a forex account - usually those are not restricted in the same way but would depend on where you work.

 

Agreed with Mucko.

Go outside your asset class.

********************************* “The American father is never seen in London. He passes his life entirely in Wall Street and communicates with his family once a month by means of a telegram in cipher.” - Oscar Wilde
 

It might take awhile for them to catch on, but they will eventually. Though you have a common name like "John Smith," Im sure you have a unique SSN, which your employer has, your trading account has, the SEC has if you are registered, and the IRS will have for tax purposes. Trust me, they have all bases covered to make sure they catch ones doing this... Just close it, and if you choose not too, dont complain when you do get caught

 
Mr.Green:
Though you have a common name like "John Smith," I'm sure you have a unique SSN, which your employer has, your trading account has, the SEC has if you are registered, and the IRS will have for tax purposes.
Bam.
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

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