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Ned - I am no legal expert, but I just spoke to the CFTC and the SEC
about a similar question. If you are not managing money and you are not
getting any remuneration for the advice, then there is no need to be
registered. I think though if you give specific trade recs (buy at 1000,
stop 950, objective 1100) you might need some sort of registration. With
the CFTC/NFA it means passing a series 3 exam and becoming a CTA. The
SEC might also want you to register with the states as a registered
investment adviser too!
Finally, a lawyer would hang you for putting trade recs up on the web
w/out a disclaimer. I have not checked your site, but if u r doing that
u could be sorry. Anybody could then come back at you and sue you.
Steve Poser
Ned Markson wrote:
>
> So we checked with a legal type and he said that yes I
> should be registered. As a result I put the site under construction,
> called the NFA, and they are sending me some information.
>
> Somehow this all seems like overkill since this was a non-commercial
> site with no fees involved; perhaps someone else on the RT list could
> advise me on this issue??????
>
> Ned
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