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In regards to futures or futures options trading for, or advise to,
others, you only need to register with the NFA if you plan on charging
for your services or holding yourself out as a CTA. The NFA (National
Futures Association normally has an excellent web site at
http://www.futures.org/ , but I just tried accessing it and couldn't
even connect to the server. Perhaps they're doing some maintenance).
In regards to equities, equities options, and mutual funds, here
again, if you don't plan on charging for your advise, you don't need
to register. But if you do, the requirements vary from state to state.
Some require no registration, some require that you become a
Registered Investment Advisor only if your number of clients exceed a
minimal threshold, and some require registration no matter how many
clients you have.
If all you want to do is manage your families funds, most brokerages
and mutual fund companies offer the account holder "Limited Trading
Authorization". Which means they can hand over allocation decisions to
someone else, but that third party does not actually have the ability
to withdraw funds.
Hope this helps.
Bob Hunt
E-Mail: RHunt.066@xxxxxxxxxxxxxxxx
Web Site: http://home.att.net/~rhunt.066
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Don C wrote:
>
> What are the rules on trading other people's accounts?
> (With their permission, of course.)
> Does one need to be registered or something?
>
> donc
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