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There appears to be a bit of confusion out there. Perhaps I can help.
The "form" that one signs to give another authority to trade is really a
"limited power of attorney". This authorizes another to trade but does not
authorize any involvement with the funds in the account.
As far as the requirement to register, if you do not provide advise to more
than 15 people, it might appear that you do not need to register but be very
careful about this. The rest and the rule states "and does not hold
themselves out to the public as an expert". What this means is if any of the
15 are not a past personal friend or family, that you are holding yourself
out to be an expert to the public. If this is the case, you must be
registered even if you are only advising one person.
To sum up, a signed limited power of attorney (authorization to trade) is
required even if one is trading for their own spouse. Registration would be
required if one is trading or giving advice to more than 15 persons or if one
is holding themselves out to the public as an expert.
I hope this helps
Manning Stoller
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