Bankers can't trade their own accounts?

[Chartsy]

Is this true- that bankers can't trade their personal accounts, for fears of inside information?

Does this just apply to Investment banks or retail banking too? Like would I be able to work as a cashier in Northern Bank and spreadbet?

 

[Jack o'Clubs]

Lol. No if you're at an IB or buy side institution there will be a stack of compliance rules on what you can or can't do. The no nos include stuff like intraday trading, buying anything on a restricted list or that the firm is buying for it's own account etc. You have to get sign off for each buy or sell and have to do it through a specified broker. So in short it's a right pain the ****. I don't think a cashier is going to qualify as an insider though...

 

[Chartsy]

Lol. No if you're at an IB or buy side institution there will be a stack of compliance rules on what you can or can't do. The no nos include stuff like intraday trading, buying anything on a restricted list or that the firm is buying for it's own account etc. You have to get sign off for each buy or sell and have to do it through a specified broker. So in short it's a right pain the ****. I don't think a cashier is going to qualify as an insider though...

What about fx majors and gold/silver?

 

[TobyDoyle]

Lol. No if you're at an IB or buy side institution there will be a stack of compliance rules on what you can or can't do. The no nos include stuff like intraday trading, buying anything on a restricted list or that the firm is buying for it's own account etc. You have to get sign off for each buy or sell and have to do it through a specified broker. So in short it's a right pain the ****. I don't think a cashier is going to qualify as an insider though...

Probably not, because if you take their calculator away, you're not going to get the right amount of money back.

 

[Martinghoul]

What about fx majors and gold/silver?

FX is normally OK. Same for most commodities. Essentially, compliance rules are most severe where single names are concerned. Everything else is, generally, permitted. However, rules can vary.