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I have accumulated a good enough real money track record that I want to
start an advisory service. I would like to avoid all the overhead of
becoming a CTA and since I will not have any direct control over anybody's
money I don't think I need to. A couple of years ago I recall a big court
case where the CFTC wanted anyone offering any kind of trading advice to
have to register as a CTA even if they did not direct control the actual
trading of any money. The judge sided against the CFTC. So I think I can
establish the kind of advisory service I envision without becoming a CTA.
There are certainly a boatload of such services on the web and most do not
claim to be a CTA.
Just to cover all my bases, I would like to consult with an attorney who
knows the field before I launch. Can anybody recommend someone?
Thanks,
Scott Hoffman
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