Comment Re:Insider Trading (Score 1) 299
E*Trade does have a "get out of jail free" card, but it is to protect them, not you.
In order to participate in an IPO, you have to fill out a rather lengthy form about your income, your net worth, and your investment experience. And then (more on topic) you have to disclose if you or any family members are employed by a brokerage, or involved in securities at a bank, or are one of the company founders, blah, blah, blah.
This form determines your eligibility to participate in an IPO -- and if you lied, it will be your problem not theirs. Especially if you have a net worth of about $0 and you use a $2000 cash advance off a credit card to buy stock...
In order to participate in an IPO, you have to fill out a rather lengthy form about your income, your net worth, and your investment experience. And then (more on topic) you have to disclose if you or any family members are employed by a brokerage, or involved in securities at a bank, or are one of the company founders, blah, blah, blah.
This form determines your eligibility to participate in an IPO -- and if you lied, it will be your problem not theirs. Especially if you have a net worth of about $0 and you use a $2000 cash advance off a credit card to buy stock...
