Even before the trade gets executed, you must get approval from your supervisor? Is this true or it’s org dependent? Is this especially the case for the major financial institutions like Chase and Wells Fargo? Even if you’re not dealing with any substantial financial data? #finance #chase #wellsfargo
Yes but the approval doesn’t come from your supervisor, instead from compliance. This is true at big banks even if you are not working on market related products. Restrictions may vary depending on the company and your level, but you generally need pre-approval for your trades and have a mandatory holding period (so no day trading). Etfs and crypto don’t require pre-approval for some places.
So for every trade I make even if I cancel it to get a better price I have to keep reporting that? Isn’t that ridiculous?
They have access to my accounts in my brokerage, why can’t my broker do that for me instead of me needing to keep reporting it? It’s such a pain. Meanwhile Nancy Pelosi and all these politicians are getting away with insider trading with impunity
You have two groups of people depending on their location and activity: one group have to report everything in advance; another one doesn't have to report, but still have to follow a holding period rules and some additional rules
Oh I’ve asked this too on forums. I’ve gotten mixed responses
Yea, every single transaction has to be cleared… at JPM some organizations required this. It’s soooo annoying. Even if the product/work is not related to the stock market. And you have to closed the unauthorized brokerage accounts like Robinhood.
Only if you work in the Investment Banking side of business. No such restrictions exist in the consumer banking
Yeah
yes for most investment banks. cant even buy single name stocks for the company I work for now (alternative asset mgmt). annoying.
Not sure of the names you mentioned but mostly yes
You work for DE and you haven’t heard of chase or wf? You’re being facetious right?
Not sure of the process at wf or chase