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Dave:
I am far from the most qualified here, but I can handle your first question:
Commodity Futures Trading Commission. They have a website at
http://www.cftc.gov/
Your second question: not only can I not dispense investment advice, but
offering legal advice is a no-no, too. Poke around the CFTC website and
when the time comes, talk to a lawyer.
Regards.
----- Original Message -----
From: <dave-mc@xxxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: May 11, 1999 14:26
Subject: Re: CFTC Strikes!
> Glen,
>
> For my own edification and protection:
>
> 1) Who is the CFTC?
>
> 2) If I ever learned enough about trading to be consistently profitable,
> could I invest money for others (i.e. friends) if I
>
> a) did not charge for my advice or services
> b) stated that I was not a financial planner of any kind
> c) had a disclaimer that I did not promise any results of any kind.
>
> I think I would be safe to do this, but just wanted to sanity-check it.
>
> Thanks,
> Dave
>
> ----- Original Message -----
> From: Glen Wallace <gcwallace@xxxxxxxx>
> To: MetaStock listserver <metastock@xxxxxxxxxxxxxxxxxx>
> Sent: Tuesday, May 11, 1999 1:57 PM
> Subject: Fw: CFTC Strikes!
>
>
> > This is from the Omega Listserver, with names and addresses removed.
> >
> > Be careful, people.
> > ___________________________________________________________
> >
> >
> > ----- Original Message -----
> > From: RL
> > To: Omega List
> > Sent: May 11, 1999 11:44
> > Subject: CFTC Strikes!
> >
> > I just got a Certified Letter from a Trial Attorney at CFTC.
> >
> > They ask for all documents published, maintained, issued, written and/or
> > distributed by E (my company) concerning "I" (my system);
> >
> > A list of all present anf former subscribers, customers and/or clients
> > for "I" including addresses and telephone numbers;
> >
> > Copies of all promotional brochures, advertisements and/or other
> > descriptive literature concerning "I";
> >
> > Copies of all correspondence received from or sent to present or
> > former subscribers of "I".
> >
> > Now the laughable part is that I have never had ANYONE at ANY TIME
> > pay me ANYTHING for the results of a system-in-testing! The frightening
> > part is that someone at CFTC is either mining the Web (unlikely, as
> > I can't find my Web page with HotBot or Lycos) OR they are monitoring
> > this e-mail list.
> >
> > In that I never charged and only used the Web page to present the
> > results of a scientific test of the system --- AND given that my
> > attorney is the former State Attorney General and he advised me I
> > was OK if I didn't charge and didn't hold myself out to be an advisor
> > (I ALWAYS stated I didn't know how to trade ...) --- I hope to
> > clear this up with a letter.
> >
> > I will keep the list informed. I called the CFTC Trial Attorney and
> > got voice mail. They may even return the call.
> >
> > Cheers,
> > RL
> >
> >
> > ----- Original Message -----
> > From: MS
> > To: Omega List
> > Sent: May 11, 1999 12:38
> > Subject: Re: CFTC Strikes!
> >
> >
> > RL,
> >
> > In my opinion, The CFTC is going to try to charge you with failing to
> > register as a CTA. I sincerely hope that you can clear this up with a
> letter
> > but doubt it.
> >
> > Once anyone is registered, the CFTC has a legal right to demand
subscriber
> > lists, financial records and anything else even remotely related.
> >
> > Again, in my opinion this is OK if the CTA is managing money, has power
of
> > attorney or gives individual advice.
> >
> > If you have only used this or another list to talk about your program,
> then
> > you haven't given individual advice. However, if you have communicated
> with
> > an individual and given any advice or opinion to an individual, BINGO.
> >
> > Good luck RL,
> >
> > MS
> >
> >
>
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