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Started By
Message
Stock Ownership restrictions
Posted on 1/6/23 at 1:24 pm
Posted on 1/6/23 at 1:24 pm
I'm told by my mother that a close member of my family who works for a large Bank in America (corporate office)claims that he is not allowed to own stocks. maybe my mother misunderstood, but that seems not right. Can it be? I can see not owning or trading the company stock, but ALL stock?
6
Posted on 1/6/23 at 1:26 pm to Jmcc64
He could be in a position where it's a conflict of interest.
Posted on 1/6/23 at 1:32 pm to Bestbank Tiger
Some of the big banks are overly restrictive. Some only allow ownership of ETFs, mutual funds, etc.
Posted on 1/6/23 at 2:50 pm to Jmcc64
Depending on how high up he is / what he does... there could absolutely be restrictiosn, in order to prevent conflicts of interest. For example, any business that has a relationship with the bank.
BoA tends to be overly protective, so I could absolutely see them limiting him from any direct stock ownership.
He could still own mutual funds, etfs, etc.
BoA tends to be overly protective, so I could absolutely see them limiting him from any direct stock ownership.
He could still own mutual funds, etfs, etc.
Posted on 1/6/23 at 3:14 pm to Jmcc64
I could see it if he's an executive (a real executive, not a bank "AVP.")
Posted on 1/6/23 at 7:14 pm to Jmcc64
Tell him to run for congress. Problem solved
Posted on 1/6/23 at 10:46 pm to Jmcc64
I work for a Big Four firm. We have an ungodly amount of restrictions on owning certain equities. I have to run any purchase through our independence database before purchasing. If a company is flagged, I’m barred from owning the stock.
Posted on 1/7/23 at 10:52 am to Jmcc64
My sister in law needs trades approved
Might be in a position to have insider info so had to go through clearing
Might be in a position to have insider info so had to go through clearing
Posted on 1/8/23 at 3:09 pm to skewbs
quote:
I work for a Big Four firm
Same. Far easier to do mutual funds/ETFs. I have been forced to sell at loss positions before when I didn’t intend to sell.
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