|
PureBytes Links
Trading Reference Links
|
First I'm not a Broker, just a trader, let's keep this in the third person
to protect the innocent until proven guilty. I know the acts described
would be unethical / illegal. But how far can you push the law?
I should have been clearer, I think publishing somebody else's work
as your own is fraud weather you have their permission or not.
If they knowingly help you, the have also ( in my opinion ) committed
fraud.
If the CTA gives you permission to use his/her work, shouldn't
you say that? To ignore that fact is unethical at best. If you use it to
solicit the public how much worse can it be?
If you are a broker ( Not a CTA ) and you publish your own Ideas / advice
for the purpose of soliciting is this unethical or just illegal? If you did
it to fill in for a busy / sick CTA, with his permission, and the CTA
does not tell anyone, is it still unethical or illegal? Would the CFTC
or NFA care? What liability would the Brokerage (management) assume
if they knew and did nothing?
I've re-read my original post and can find nothing in it that would suggest
that I was contemplating anything. As for tracing my email go right ahead.
I like you gave my address when I joined this forum.
> I think you already know the answer to whether it is ethical or not.
> You sense that it isn't , that is why you asked the question.
> I am a CTA, so I may be biased.
> A key phrase is "with or without permission". I think this makes ALL
> the difference in the world. If you had permission, the point would be
> moot, so I'll assume you don't have permission.
> If you are a broker attempting to raise money FOR this CTA by publishing
> his advice, I think the CTA will give you permission and you have no
> problem
> If you are taking the advice and using it to trade only your own money,
> I think you are ok.
> If you are taking this advice and claiming it to be yours, or are using
> it to open client accounts that you will trade, this is definitely
> illegal. It is plaigerizing, stealing of intellectual property,
> fraud,viloation of copyright, possibly alot of things. You would be
> breaking laws, not just CFTC rules. If you are trading client accounts
> with this info, you need to be registered as a CTA also. Even if you
> are just passing trade recommendations along to someone else but don't
> handle the account, you still must be registered as a CTA (this is a
> fairly new rule).
> All I can say is , reread your e-mail in an objective frame of mind and
> it will be apparent that what you are contemplating is clearly illegal
> and unethical.
> One more thing, maybe you do not realize that this business is a "self
> regulated" business. That means that you and I are obligated to report
> others we see breaking the rules. Many registered NFA membersw have
> seen this post and can (and may) forward it to the CFTC. Also
> dispensing advice over the net is one of the current HOT topics and reps
> of the NFA and CFTC monitor newsgroups for this type of stuff. I know
> people who have received cease and desist orders due to postings.
> E-mail accounts are easily traceable.
> Just some friendly advice. Good luck.
>
> Eric
|