Trading Other People Money

[Micardo]

Hi,

I was wondering if someone could provide some insight into what is required to trade other peoples money legally.

I want to set up in the UK... well actually if it is not a requirement I would like to set up in Switzerland but trade UK Clients money...

Could someone tell me if I am required to be regulated by the FSA to do this?

Also should it be me personally who is regulated or the Limited Company that I would set up?

I have read somewhere on this board that if you are simply trading other people money and not advising them then you do not need to be regulated?

Thanks for your Help

Micardo

 

[SAINT]

From what I have gathered, you can trade other peoples money IF they are known to you- friends and family etc.

In the U.S. you can have up to 15 clients and an account of no more than $26 million dollars and escape regulation. Not sure what it is in UK.

As for a company structure you could set up an investment manager LTD co in UK to manage for clients but base the fund offshore- or tax-friendly like Switzerland. You would then only be taxed on money you take into UK and the UK firm requires fsa approval as fund manager. The fund would be reg'd in switzerland or wherever you base it.