46

I received exactly the same letter (in email form) from Discover Card about 9 months ago, so I immediately called them, thinking that someone was doing some very convincing phishing -- the email had zero suspicious headers, the mail relays looked right, the stylesheets looked exactly like Discover Card's, etc. Once I got a knowledgeable rep on the phone, ...


34

It would have to be made as a "gift", and then the return would be a "gift" back to you, because you're not allowed to use a loan for a down payment. This is not to evade taxes. This is to evade a credit check. The problem is that banks don't like people to have too much debt. The bank could void the loan and go after your friends for damages under ...


21

I recommend you take a look at the Card Act of 2009's amended "ability to pay" regulations: http://files.consumerfinance.gov/f/201304_cfpb_credit-card-ability-to-pay-final-rule.pdf There's a lot of literature here, mostly discussing the recent changes to the rules. The highlights are: "Ability to Pay" rules differ based on whether or not the consumer is age ...


17

Here's an excerpt from VISA's Card Acceptance Guidelines for Visa Merchants (PDF) Merchant Name The merchant name is the single most important factor in cardholder recognition of transactions. Therefore, it is critical that the merchant name, while reflecting the merchant’s “Doing Business As” (DBA) name, also be clearly identifiable to the ...


9

The Dutch equivalent of the Securities & Exchange Commission is the so-called Autoriteit Financiële Markten. You can find the 'jaarverslagen', the Dutch equivalent of 10-K financial reports, on this page.


8

It is none of those. It is defined in the US Code, but not the Internal Revenue portion of the code. The official explanation: The TSP is established under the Federal Employees' Retirement System Act of 1986 and is codified primarily under Chapter 84 of title 5, United States Code (U.S.C.). The Internal Revenue section of the code is involved only ...


7

There is no unique identifier that exists to identify specific shares of a stock. Just like money in the bank, there is no real reason to identify which exact dollar bills belong to me or you, so long as there is a record that I own X bills and I can access them when I want. (Of course, unlike banks, there is still a 1:1 relationship between the amount I ...


7

Your first scenario, involving shareholders in a private corp being limited by a contractual agreement, is common in practice. Frequent clauses include methods of valuing the shares if someone wants to sell, first right of refusal [you have to attempt to sell to the other shareholders, before you can sell to a 3rd party], and many others. These clauses are ...


7

That's about an EU directive. The way EU directives work is that each member state is obligated to make laws that comply with it. But these aren't EU laws. They are laws of each individual country. They can and will be different from country to country but they need to comply with the general idea. Leaving the EU won't make UK laws go away.


6

Your Spidey senses are good. A good friend would not put you in such a position. It's simple, to skirt some issue (we'll get to that in a second) you are being asked to lie. All for a 15% return on your $$$$. <<< How much is that? You can easily lend him the money, and have a better paper trail. But the bank is not going to like that, and requires ...


6

If you can separate the following two points, and live with them. I think you are good to go ahead. Otherwise I would seriously recommend you to reconsider. Your friend just asked you to give you money so they could buy their dreamhouse. Are you willing to give out this much money help a friend assuming that you will never get it back? This is what it ...


6

Mining is income at the value at time of earning, I would use an index like XBX to determine price. Asset appreciation is capital gains. These aspects of crypto-assets are not a gray area in the US financial sector, and have been addressed for almost half a decade now.


6

Yes, this is prohibited by the Securities Exchange Act of 1934, Section 9(a)(2). SEC. 9. (a) It shall be unlawful for any person, directly or indirectly, by the use of the mails or any means or instrumentality of interstate commerce, or of any facility of any national securities exchange, or for any member of a national securities ...


6

The flip side of this narrative is that Zuckerberg's massive undiversified exposure to Facebook equity keeps Facebook protected from activist investors seeking to potentially obstruct the mission of the company. Some shareholders like that an investor like Ackman can't buy up enough of the company to install board members and start to start unilaterally ...


6

Well, technically the original quote is "it's not about the money, it's about sending a message", but still. That's pretty much the long and the short of it - having a vote that is doomed to fail gets coverage and attention. It got you to notice, didn't it? If you have a big pile of money/are an investment firm, you might potentially care about the fact ...


6

No. Even if there was a data protection law like the European GDPR, that's not going to require banks to erase information about accounts you've had in the past. Banks are generally going to be legally required to retain information about their customers. If you received interest, for example, the bank reported that interest to you and the IRS at tax time ...


5

Adding to what others have said, if the mortgage for the new house is backed by the federal government (e.g., through FHA or is to be sold to Fannie Mae/Freddie Mac) you would be violating 18 USC § 1001, which makes making intentionally false statements to any agent or branch of the federal government a crime punishable by up to 5 years' imprisonment. The ...


5

Securities clearing and settlement is a complex topic - you can start by browsing relevant Wikipedia articles, and (given sufficient quantities of masochism and strong coffee) progress to entire technical books. You're correct - modern trade settlement systems are electronic and heavily streamlined. However, you're never going to see people hand over ...


5

To answer your direct question: if you look at this page, the link "Licensees List update February 2018" returns a PDF document which does list TMI Holding Limited. Why it's not returned from the search function, nobody can tell you except the folks at Vanuatu Financial Services Commission website. Why don't you ask them? To offer some unsolicited advice, ...


5

It depends on the nature of the complaint as well as how the other party decides to respond. Here are my two experiences with this and they are not a representation of all that FINRA does in such situations. 1) In 1987, I had a $15 covered call position on Bear Stearns that expired two points in-the-money. I should have been assigned. The next trading ...


5

Any private organization can set up rules and regulations that can lead to the authority to fine a member. If somebody doesn't want to abide by those rules they can leave or not join. They are what is known as a Self-regulatory organization here is a quote from Wikipedia: A self-regulatory organization (SRO) is an organization that exercises some ...


4

There are many different kinds of SEC filings with different purposes. Broadly speaking, what they have in common is that they are the ways that companies publicly disclose information that they are legally required to disclose. The page that you listed gives brief descriptions of many types, but if you click through to the articles on individual types of ...


4

If any source/destination is considered in violation of US sanctions or Anti-Money laundering statutes, then PayPal as a financial institution bound by those regulations will have deny the transactions. Its a never ending cat and mouse, where a country will show up on the list one day and a few months later they are not on there; for example what @CQM ...


4

Did it show just your address, or was your name on it as well? You didn't share how long you've lived at the address either, so it makes me wonder whether a former tenant is the one who filed that paperwork. It's also possible that someone used your address when making a filing. Whether that was deliberate or accidental is hard to discern, as is their ...


4

What she is being told is complete baloney. See this question here for example, and this Motley Fool article republished on the Nasdaq site. In order to trade U.S. stocks, the easiest thing to do is to open a brokerage account with a U.S. broker. However, brokerage firms have different procedures for non-citizens based on their residency status, and non-...


4

I can't speak about the UK, but here in the US, 1% is on the cheap side for professional management. For example Fidelity will watch your portfolio for that very amount. I doubt you could claim that they took advantage of her for charging that kind of fee. Given that this is grandma's money, no consultation with the family is necessary. Perhaps she did ...


4

The service you are asking about does not let you buy stock directly. Rather than brokering or dealing in actual equities, they deal in financial betting instruments known as "contracts for differences", or CFDs. Notably: [in] the United States, where due to rules about over the counter products, CFDs cannot be traded by retail investors unless on a ...


4

Regulation T requires that at least 50% of the money you are trading with be your money. If you fail to meet this requirement, stocks will be sold to both reduce what you're borrowing and increase what you're holding until the required 50% margin is met. This only applies to margin accounts. So, for example, if you hold stocks worth $4.00, your account must ...


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