FIRST TIME INVESTOR
Setting up Account: Declare your Affiliations?
I am confused by this section. Can you please help me select which of the statements apply to me (that is/are generally correct): I am currently a control person of a publicly traded company I am currently affiliated with or employed by a stock exchange, member firm of an exchange or FINRA, or a municipal securities broker-dealer I am currently affiliated with any government official entity, or have dealings with a government official or any government-related entity of any country
Daniel Patano.
21 July 2022
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2 Comments
over 2 years ago
Hi Daniel, this is a question that causes many people to pause. Ultimately it’s up to you to decide if any of these relate to you, but I’ve tried to give some context / examples below.
The questions are partly aimed at identifying if you are a person that, due to your work or relationships, are likely / able to come across confidential information that could impact the market or individual companies. So it may help to read them in that context.
Hopefully the questions about working at a stock exchange or broker are self-explanatory, but the government ones tend to be a bit less easy to figure out, for people working in the public sector. The key words are ‘affiliated’ and ‘dealings’, which have specific implications. If, say, you are working in a senior position or supporting someone in a senior position within a government department or entity your answer would probably be different than if you were working in a customer service role at a local government department.
Sorry if this is a little vague, but we can’t provide any guidance on this as it relates to you personally. Hope it has been of some help! ☺️
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Replyabout 2 years ago
Hey Daniel. Ahh yes, that is a confusing question indeed, thanks to the jargony language used. Here’s my understanding…
This question is basically asking you if you are someone who is in charge of a public company… or if you’re employed by a stock exchange… or if you’re a government official or regulator of some sort. For almost everyone, the answer to all Qs is no. But I guess only you know the answer to these :)
Hope that helps. I’m pretty sure Pearler and other brokers are required by law to ask these questions, and as silly as they seem, there probably is a reason behind it.
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