Broker/Dealer Reporting Requirements

1) I'm a Registered Rep and Investment Advisor Rep in the USA. My Broker/Dealer (B/D) requires that I register any Outside Brokerage Account that I maintain including Goldmoney even tho I'm not sure it technically counts as a brokerage account. I still have to answer their questions. Which "Firm" under the Goldmoney umbrella should I list as the Brokerage "Firm"? I see there is a Canadian company and Jersey company to choose from. Which would be most correct?

2) My B/D requires access to statements. Does GM provide quarterly statements at all? - and - if so, can a copy be sent to a third party (my B/D)?

Comments

  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    Goldmoney is not a brokerage account. You are not trading In any type of security. You are buying physical gold and holding it in your own name. I recommend that you speake to your Compliance Department.
  • dagx84dagx84 Posts: 3 Tin ✭
    Unfortunately in my B/D's eyes this is still an account they require notice of. I suppose I could theoretically front-run gold by buying gold and then advising my clients to buy, thus improving my own performance. My B/D is incredibly overzealous when it comes to any compliance issue. I just gave them the Canada company name & address. They can send all the letters for duplicate statements they want. I'm guessing they won't get them.
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