Hi, i just gave notice to my current employer. I work for an investment banks where we have to hold any stocks we buy for minimum 30 days. Now that i have given notice and there is no question of loosing job, can i simple go ahead and sell my stocks early or even day trade for that matter? #finance #bankofamerica #jpmorgan #wellfargo #morganstanley #goldmansachs
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Women, help me understand why this is inspirational
You might end up with a compliance note on your record which could impact you ever going back.
I am not going back, that much i can assure. So that is my least of worries. In fact not being able to trade freely without having MNPI is one of the biggest reason i am leaving finance.
Wouldn’t your manager know though?
I don't work in investment banking, but that sounds like something that SEC might be interested in investigating.
“I’m not qualified to answer, but I’ll answer anyways with bullshit that isn’t right”
Sounds like a way to burn a bridge to me and FS seems to be pretty cyclical. You might want to go back some day (soon)
I am not going back for sure. Been in the Finance world for long. Now joining one of the big techs. Will not be going back to finance or IB as ling as i can.
You just never know. Life loves to throw curveballs. So unless it’s costing you money to not sell sooner I’d recommend to wait.
Don't do it. Not worth for few days of holding.
I definitely want to. But those pots stocks are so hot, not sure if i will burn my diamond 💎 hands holding them for all 30 days 😂
Rip hope you didn’t diamond hand @gurho
Background check feedback
Illegal
I would think that just to be safe yes hold for 30 days since you bought. 1) because you’re still an employee and until your not, you must comply with their policy and 2) save yourself incase something coincidental (stock drop) comes up you can say that based on your (potential) insider information the trade was not based on it.
Are you licensed? If yes, don't do it.
Agreed. If you are registered with finra, you are risking your firm flagging you. Not worth it.
No not licensed and all. Just a software dev. Million miles away from any special knowledge of business
Not worth it, if you really are worried about the market puking in the next 30 days just buy SPY puts.
Usually not allowed to buy puts or short sell. You can buy calls on the Vix though.
Actually we are allowed all kinda of option strategy on any if the etfs or indexes. Given than, how can i safeguard my gains on pot stocks? Other than buying their puts?
Could they terminate you for cause/take back your bonus?
Not likely. Bonus in pocket. Already gave notice. 1 more week to go
It'll get flagged by compliance but nothing they can do as long as it's not insider info. At BofA my manager got my trades for over a month after I left.