Questions tagged [legal]

Questions around financial laws and legal systems.

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votes
4answers
185 views

Cheapest Auto Insurance - company compensates other driver in an accident only if I can't

I don't have any current (auto or home or renter's) insurance and need to rent a car for one week in Minnesota. The minimum, after tax, cost I can find is $280, but this includes no insurance (I even ...
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2answers
211 views

Is this a loophole in my credit card policy?

I have recently applied for a new credit card that and cardholders can get 5% cash back on purchases in their top eligible spend category each billing cycle, up to the first $500 spent (then 1%). The ...
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3answers
418 views

Why do some opinion pieces say "this is not financial advice"?

When I see a video about finance (especially Bitcoin), they seem to always mention: This is not financial advice. And then they give financial advice. Why do they have to say this? It really pisses ...
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0answers
32 views

Fiduciary Responsibility of an RIA

I'm currently an investment advisor with my own RIA sand I was approached by a company to do live streams talking about trade ideas and investments. They charge a subscription to their viewers and I ...
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2answers
163 views

Do corporate executives have a fiduciary duty to maximize the value returned to investors?

I have repeatedly heard that corporate executives have a fiduciary duty to maximize the value returned to investors. I have also repeatedly heard exactly the opposite: that there is no requirement ...
3
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1answer
103 views

Can one gift surplus US income to a sibling in the UK to put into an ISA, and be re-gifted this money on their return to the UK?

Suppose a UK citizen ("Alice") moves to the US for 3 years for work. I am aware that 1) when Alice stops being a UK resident, she is no longer able to pay into UK ISAs, and 2) when she ...
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0answers
46 views

Conflict of trading restrictions with having ETF and mutual funds

Many employees of public companies have trading restrictions to trade their employer's stock because they have inside knowledge. For simplicity let's assume I'm an Apple employee and only allowed to ...
-1
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1answer
196 views

Pros and Cons of getting around Pattern Day Trader (PDT) rules

I have done some trading in my time, and I wondered how to get around the Pattern Day Trader (PDT) rules (this does not directly relate to me because I prefer swing or long-term investing.) I have ...
-1
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1answer
210 views

Is it legal and possible for me to start a "tax haven" account in some distant country while still living in Sweden?

I have just realized that if I ever sell my Bitcoin for fiat, the Swedish government is going to tax 30% of it. Yes, it's "only" on the "gains", but since I primarily bought them ...
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3answers
127 views

Are there any legal restrictions on "artificially" changing the price of a stock?

I understand that stock prices change partly based on supply and demand. In theory, could you convince a large group of people to buy a large portion of the stock so that the price would "...
4
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5answers
1k views

What are the bounds of the enforced value of "legal tender"? [closed]

Suppose Bob and Alice are both U.S. citizens and Bob lends Alice 100 euros with 105 euros required to be paid back to Bob in exactly one month. A month later, Alice comes back with X amount of ...
25
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7answers
9k views

Can my dad remove himself from my car loan?

I bought a new car from a dealership, and my dad agreed in front of my husband and my mother to co-sign for me. The dealership allowed me to take the paperwork out to my dad's house and have him sign ...
-1
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3answers
205 views

Money spreading system? Is this legal? [closed]

Is it legal to tell potential givers/donors that money sent to me is to be shared then with others? For example, an incentive to receive any money at all could be the claims that money sent is then re-...
1
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1answer
170 views

Is it legal to get free advice from a friend regarding investing?

My son does not have any securities licenses but has been DESTROYING the market for almost two years. I want to start trading based on his advice. I don't need warnings about "what if you lose ...
1
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1answer
76 views

Must Israeli citizens who do not reside in Israel pay for the nationwide Israeli healthcare system?

businessinsider.com claims that: Healthcare in Israel is universal and, by law, all citizens and permanent residents must participate in it. I find this surprising, as typically citizens who do not ...
4
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1answer
299 views

Is it illegal to advertise stock tickers on billboards/social platforms/etc?

Potential answer: Is leveraging notoriety to raise stock prices illegal in the US? I'm having trouble finding an answer to this and given all the turmoil in the markets recently, I'm having a hard ...
1
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0answers
51 views

If someone at a hedge fund reveals their firms position to someone else is it illegal to trade on or disseminate the information? [duplicate]

If someone at a hedge fund reveals the details of one of their positions to another person that doesn't work at the firm can the other person trade on, or disseminate, the information? It's not like ...
5
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5answers
367 views

Paid under the table prior to putting me on the books- recently told me they're issuing a 1099 for all the income they paid

I worked for a bit over 4 months under a verbal agreement that I would be paid off the books for purposes of still collecting unemployment during the pandemic. My employer recently let me know that I'...
3
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1answer
893 views

Legality of Bank Inactivity Fees

I hadn't been paying attention to my checking account (in which I kept a minimum balance of $1500 just to avoid a monthly "maintenance fee") for about a year. But, yesterday I logged in and ...
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0answers
29 views

Can my Foreign Company transfer my salary ( USD ) to my NRE account directly, will it be taxable?

I had opened an NRE account while working in Dubai, now I relocated to another country, My Present employer is transferring my salary directly to my NRE account, will it be legal/ nontaxable?
1
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1answer
78 views

Is there any way to "certify the content" when mailing documents from France to a financial institution also located in France? [closed]

I'm having some issues with a French financial institution, which claims they are some missing pages in some forms I sent them via registered mail. While registered mail certifies the reception, it ...
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2answers
82 views

What are the necessary and sufficient steps required in order for parents to transfer home to children while minimizing tax burden?

I'm trying to get some guidance on what steps are necessary and sufficient in order for me and my wife in order to obtain legal ownership of a property which is currently owned by a parent. We are ...
0
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2answers
159 views

Can you sue a mortgage bank for having drastic differences between pre-approval and actual loan offer?

I'm recently trying to acquire an investment property (a single family house) in the USA. I have self-employment income and payroll income from the same company, my wife as well, and I also have ...
2
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3answers
268 views

Question About Medical Bill Defense

So, I've been researching for a quite a bit and haven't been able to find a case or ruling that relates close to my situation. I went to a sleep specialty physician about four years ago who was ...
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1answer
102 views

What is "Nasdaq Subscriber Agreement"? What's the main content in simple English? [closed]

What is Nasdaq Subscriber Agreement? What's the main content in simple English? The document is loaded with legal terms. I wish to buy stocks and was forced to sign that document.
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1answer
92 views

Reporting a forex broker to the corresponding regulator, what else should I do?

I traded forex using two different brokers in two countries. Forex.com in USA and alfaforex.ru in Russia. What I experienced both times was unexpected position sell-outs and fake quotes: position ...
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0answers
94 views

Parcel stuck at customs. Further instruction should be requested from "Buyer" or from "Seller"?

I have an issue where a package is stuck at the logistic company customs offices because the seller has apparently misdeclared the content value. I am not going to pay the fine they want me to pay so ...
1
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0answers
52 views

Is me sending some Bitcoin to a Tor service a transaction? Or only when I buy something with those Bitcoin from the Tor service?

I've started recording all my money transactions, be them fiat or Bitcoin. Now I wonder how to record the following situation: I have an existing 0.05 BTC in my Bitcoin Core wallet running on my ...
27
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3answers
9k views

Would simplistic date / amount / description bookkeeping "cut it" legally?

I've read many articles and texts over the years about running companies and personal finances. Every time, I sink down in my chair, mentally exhausted from the utterly confusing, cryptic material I'...
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1answer
279 views

Can you legally keep topping up a pre-paid card with a credit card on a monthly basis to borrow money while earning points?

Having 2 credit cards, one of which is pre-paid, can someone keep topping up the pre-paid card with the other on a monthly basis therefore earning points? I am asking because in this way you can ...
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2answers
282 views

Can my wife use "my" money to invest and report the gains as her income?

I've looked into this quite a bit and haven't found any red flags as to why this would be a legal/tax issue, but I wanted to post the question here to see if the community might help me recognize ...
2
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1answer
518 views

My mom coerced me into giving her all my paychecks

I'm currently 19 for some background...(in aurora Colorado) My mom is a single mom raising me even though my father and her are technically still married. She made me get a job when I was 16 which I ...
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0answers
181 views

My trading platform adjusted the minimum trade size according to my balance. Is this legal?

I started trading in a platform. When my balance was small, the gap between buy and sell (the spread) was tiny. When I added more funds, the minimum I could buy tripled and the spread increased to ...
2
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0answers
200 views

Do money transfer companies have a LEGITIMATE need for a passport copy

Money transfer service Azimo asks for a copy of my passport. I sent it, after having written 'copy' on it, for security reasons. My transfer then was rejected, because 'We weren’t able to verify your ...
28
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3answers
11k views

I need a title out of my name from a vehicle that my ex drive, refuses to cooperate, what can I do to resolve this?

The vehicle my ex fiance drives has the title under my name only. I have been understanding and cooperative for 10 months now. It's gotten to the point he refuses to cooperate and the last two months ...
3
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0answers
134 views

H1B Temporary Worker/ 1099 MISC Income

I am a H1B temporary worker in the united states at the moment. Last year, there was a pilot TV series filming in our apartment of residence which resulted in some inconvenience for me as a resident. ...
61
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6answers
20k views

Is it legal to photograph and test ATMs?

Some online company asked me do a job like this We have a special task for you! Our analyst department collects information regarding Bitcoin ATMs across different states and cities. In most ...
1
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0answers
951 views

Why does E-Trade plan to release some tax forms later than specified in IRS Publication 1220?

Why does E-Trade plan to release some tax forms later than specified in IRS Publication 1220? Example: 1099-INT is planned to be released on February 15, 2020 according to https://us.etrade.com/app/...
2
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2answers
237 views

Do financial institutions in the United States have a deadline to send out tax forms?

Must financial institutions in the United States abide by some deadlines to release tax forms (e.g., Forms 1099) to their customers? Or can they send them whenever they want?
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1answer
4k views

Degiro: "please select your profile", "your securities can be lent". Which option to choose?

When I am creating an account in Degiro (in Germany) I am exposed to these profile options (beware: the translation has been done by Google translator from German the original): Of course I am ...
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0answers
159 views

Is buying and selling stocks at the same price market manipulation?

At the end of the year, it might make sense to sell some stocks which currently are in the red to compensate gains made by other stocks for tax reasons. Usually, people only hold stocks if they are ...
1
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1answer
117 views

Liability for poor investment advice?

[Country is South Africa but I am also interested in this in the context of the U.S. / Europe] A good friend of mine has trusted a wealth manager with her sizeable portfolio for the last 6 years. Her ...
3
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1answer
247 views

Check if a financial firm/advisor is fraudulent/a scam in the UK (with an example)

I'm trying to understand the steps to follow to check if a financial firm/advisor is actually a scammer. For simplicity, lets stick to The UK. I have found that there is something called Financial ...
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0answers
118 views

Protection laws against fraud when investing in ETFs and/or index funds

I would like to understand what protection provides the law against frauds like Ponzi fraud scheme when investing in ETFs and index funds. Quick note: When I say 'fraud' I mean actual fraudulent ...
3
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1answer
2k views

I fell for the sugar daddy scam

So, long of the short. They offered to pay off my meager credit card debt. I was able to cancel all the payments but one. I called my bank and reported a fraudulent payment. It was for $211. So, am I ...
3
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3answers
1k views

Lease computing power to earn money - lifeinspace.org

I recently found a site - lifeinspace.org, which it exchanges our computing power for a space project to money. I got the payment, however, I am not sure about the legality of the money earned. I ...
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1answer
97 views

Declining Binding Arbitration on credit card accounts

Recently Chase was making a change to its user agreement and was automatically assuming your consent to abide by binding arbitration unless you opted out explicitly by sending them a snail mail with a ...
0
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1answer
195 views

Friend from China wants to hire me via contract to receive money and then distribute this money to pay his contracted employees in various countries

Going by the first contract, I'd be receiving a one-time payment of ~40k total and then divvying up and forwarding the money to 5-7 employees in different countries in Southeast Asia and Europe. Then ...
1
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4answers
496 views

Is it still hawala if the money is transferred via bank at the destination?

My family needs to send me approximately $3000-5000 for my expenses here in Michigan and they found a relative coming to US in coming days. They would give him cash in my country and he would carry it ...
41
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7answers
15k views

Is it legal to use cash pulled from a credit card to pay the monthly payment on that credit card?

I've got a buddy who is having problems with credit card debt. He had a small business go sour on him and ended up with about 35K of debt that's he struggling to keep under control while looking for ...