AuthorTopic: Pre-clearance of personal securities trades
@2016-07-28 15:13:41
Having a bout of disenchantment with the requirements at the behemoth bank where I'm working. I especially don't like that I need to call them in person for pre-clearance. Does anybody know whether this is due to legal/regulatory requirements? I think a website would be much nicer, no limited business hours, no wait on hold, no mispronounced tickers on bad cell phone lines, no colleagues overhearing conversations on the office phone... but maybe this is not legally possible? The other day I was taken aback that my call couldn't proceed when they asked me how many shares I wanted to sell, and I hadn't memorized that number. Shouldn't be too onerous to give them that information next time, still, it feels like the screws are ever tightened...
Looking forward to hear your thoughts and how this is working elsewhere, e.g. if communications other than voice calls are used anywhere else.

CFA Discussion Topic: Pre-clearance of personal securities trades

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Edward Liu

Edward Liu