Hi All,
I am looking for a bit of advice because whilst I have looked into it, I am struggling to get a real answer to my problem.
I started a small company about 5 years ago now offering assistance to new businesses. During this time, we have been investing the profits of the business in the stockmarket and have been very successful in doing so, even through the last couple of years.
We are now looking to start trading on behalf of some of our clients, buying and selling shares and managing a small portfolio on their behalf. I am aware that this is very highly regulated with the FSA but I am unsure as to what we need to do both as a company and on my part to begin doing this.
We are registered with MLR and have passed the fit and proper tests with HMRC but that is the extent of it. What exams and registrations would we need to go through as a company to begin acting as stockbrokers? What exams and registrations would I need to go through as an individual in order to provide these service?
We have the experience and knowledge of trading but want to make sure that we are legally allowed to trade on behalf of clients.
Thank you in advance for your help, I have spent many hours searching through the FSA, BPP and the FSSC trying to figure it all out!
Kind Regards,
MadCo
I am looking for a bit of advice because whilst I have looked into it, I am struggling to get a real answer to my problem.
I started a small company about 5 years ago now offering assistance to new businesses. During this time, we have been investing the profits of the business in the stockmarket and have been very successful in doing so, even through the last couple of years.
We are now looking to start trading on behalf of some of our clients, buying and selling shares and managing a small portfolio on their behalf. I am aware that this is very highly regulated with the FSA but I am unsure as to what we need to do both as a company and on my part to begin doing this.
We are registered with MLR and have passed the fit and proper tests with HMRC but that is the extent of it. What exams and registrations would we need to go through as a company to begin acting as stockbrokers? What exams and registrations would I need to go through as an individual in order to provide these service?
We have the experience and knowledge of trading but want to make sure that we are legally allowed to trade on behalf of clients.
Thank you in advance for your help, I have spent many hours searching through the FSA, BPP and the FSSC trying to figure it all out!
Kind Regards,
MadCo
