3
votes
2answers
112 views

What constitutes illegal insider trading?

The SEC defines illegal insider trading as: [...] buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, ...
5
votes
2answers
166 views

What considerations are there for making investments on behalf of a friend?

I've thought of two approaches so far: Pool their money into my own brokerage account and simply split the gains/losses proportional to the amount of money that we've each contributed to the ...
7
votes
2answers
778 views

Legal documents required for managing an investment portfolio among friends?

I am considering setting up a personal kind of hedge fund / stock portfolio among friends. I am trying to figure out what kind of a legal agreement I should have them sign for investing with me to ...
3
votes
1answer
240 views

Do all ETFs fall under the Investment Company Act of 1940?

Do all ETFs fall under the Investment Company Act of 1940? If not, how would a buyer know? Are there legal or financial terms to look for in the prospectus, or will be it spelled out explicitly?