I am a sell-side trader for an IB. I am intereviewing for a trader job at a hedge fund. I am just wondering if a hedge fund can/will hang my current 7/63 license. I have heard conflicting info about that. Thanks for any clarity on this.
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Depends on the legality of capital punishment in your state
I am pretty sure they do not. I had interviews at hedge funds when I started getting into the biz. one thing they always told me on the first interview was that I would lose my license if I had it. I think they will hold the NFA Series 3.
I have heard some brokerage firms, who execute trades for the fund, may hold your license, but that is unconfirmed.
Can Hedge Fund "hang" series 7/63 (Originally Posted: 04/02/2009)
I am just wondering if hedge fund can "hang" my current series 7/63. I am intereviewing for a trading role.
Thanks a lot!
Good question, not so easy answer... I do know that once you are deregistered, your two series' will remain active (though deregistered) for a period of 2 years. Thing is, if hedge funds are forced to register themselves with the new laws discussed at the G20, you may stay active after all.
Not the best answer but I hope it helps.
~AG
No, Hedge Funds are not regulated so they are not obligated, nor are they allowed to(not 100% on that) sponsor. But, with new regulations hitting the street....who knows, you may have a shot.
Ask one of the Broker Dealers who execute your trades to hold your sponsorship.
thing that I'm curious about: if you are a trader, aren't you subject to FINRA regulations, regardless of whether your employer is? I mean, how can you trade without holding a 7 & 63?
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