is cease and desist order against ny post by worldco in effect or is it simply hearsay?
\ no return of capital to traders promises promises
from a legal pt, of view the statement stands as is
assent is a subsidiary- firm ca[ital is less than worldco
if written interpertation iis needed of difference between a prop trader and customer, i suggest you speak to a compliance officer at any day...
reg t is being used to deny 100% payouts. rationale is that if you are being being paid out 100% you are not a prop trader but a customer.
denying 100% payouts is not written into reg. t but is an interperation of reg. t.
my understanding is that many day trading firms are losing big money every month which is eroding capital and worldco which is likely to file...
100% payout is not allowed for prop trader violation of reg. t. some firms firms like worldco paid out 95 to 99% to skirt rule.
anybody who would give a trader ,003 will not be in business. ask traders at worldco which is out of trading business
worldco traders are being offered jobs at schoenfeld which is solidly capitalized. deal is not as good as worldco but worldco payouts were...
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