Questions tagged [finance]
Questions involving fungible assets -- especially securities and loans (mortgages, debts, etc.).
118
questions
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votes
1answer
22 views
Investment Service Business - What are the legal requirements? [closed]
What are the legal requirements of operating an investment service that trades cryptocurrencies on the behalf of clients? Specifically in the United States.
Clients would send their cryptocurrency ...
6
votes
3answers
804 views
How are employer pay statutes enforced against offending employers?
An employer recently made some strange demands as a part of a job offer. On advice from The Workplace Stack Exchange I'm going to look for work somewhere else, but I'm concerned the employer is ...
0
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0answers
25 views
Building an ebay type app, what kind of financial liability should I expect?
I’m looking into building a eBay-like store on top of my application where suppliers can post their products and buyers would make the purchase directly on the app. We would collect a commission and ...
0
votes
0answers
15 views
What happens if I don’t not receive a copy of my auto loan documents? Is that a violation of TILA? Do I have grounds for a lawsuit?
I recently purchased a vehicle and after signing all of the paperwork, the finance manager said that I would receive all of my loan documents in the mail the following month. Almost two months have ...
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2answers
41 views
How do I write an agreement between a token issuer and token bearer?
I'm making a decetralized blockchain app that lets users create tokens and sell them to other users with the agreement that the issuer will repurchase the tokens at the bearers demand. So its pretty ...
3
votes
2answers
146 views
Can I legally guess my customer's new credit card expiry date?
As a merchant, I offer online subscription services to my customers. Often, my customer's credit card will expire, despite having an active subscription service to my product.
Is it legal for me to ...
2
votes
3answers
280 views
Can a couple be charged for spending $120,000 deposited to their bank account in error?
A couple is being charged for spending $120,000 which was deposited to their account in error. This is in Pennsylvania, USA.
The facts are presented as follows: One day, couple wakes up to $120,000 ...
1
vote
1answer
46 views
What does upon conversion mean?
What does it mean when an investor say "I will give you $100k in exchange for 10% equity upon conversion"? What does upon conversion exactly mean in layman's terms?
2
votes
2answers
75 views
Is internet tracking “public info” for insider trading purposes?
Suppose I own a search engine. I look at my server logs and see that the query "how to fix exploding engine" is very popular in the area around Tesla headquarters. Would it be legal to act on this ...
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votes
1answer
71 views
Would using a StableCoin bypass the “Money Transmitter” laws in the US?
I'm considering a startup that allows news/content creators to collect nano-payments (~$0.01) for their content. Since transactions of that size are unreasonable to charge individually by Stripe/etc, ...
1
vote
1answer
32 views
Definition of privileged information in investor law
Person X makes a scientific discovery about some new metallic alloy. She then reasons that as a result of its applications, the market for some other metal will drop. Is she allowed to short the ...
1
vote
1answer
52 views
Is a monthly Patreon donation\subscription, a contractual obligation to pay someone?
Let's say I have a prepaid card with a balance of 0$ and I am subscribed to a Patreon user for the recurring monthly donation of $50. Let's say I remain subscribed to the Patreon user for 10 months, ...
2
votes
4answers
203 views
Schwab 401k 'hacked'; somehow they added/linked an unknown bank account and transfered out ~10% of my balance!! How
I recently received a couple of 'notification' emails from Schwab re. the approval/completion of various changes I supposedly requested to an old 'inactive' (past employer) 401k account, including:
...
1
vote
1answer
70 views
How is a US political campaign supposed to verify that donors from abroad are US citizens?
According the US laws, only US citizens may contribute financially to political campaigns - especially presidential campaigns.
Suppose you are running a campaign. How are you supposed to verify that ...
12
votes
2answers
2k views
Student Loan from years ago pops up and is taking my salary
Summary: For decades I had my student loans paid by automated payment from my bank without a problem; just take it out of my bank and there's a small benefit in interest for it.
Recently, my ...
3
votes
2answers
73 views
Are companies allowed to trade securities based on internal user data?
Take a company like Google, that has access to real time information on what billions of people want at any given moment, their plans for the future - not to mention the entire email archives of ...
0
votes
1answer
41 views
Investor liability for investee actions?
The recent Supreme Court ruling in Jam v. International Finance Corporation kind of surprised me, as a layperson, since I had not imagined that banks were liable for their investees' actions ...
1
vote
1answer
102 views
Do you owe money to a company who is trying to charge a disabled/expired credit card?
A disposable credit card company from the US wrote 'recently' on their twitter
Canceling a subscription can be difficult, time consuming, and frustrating. Or it can be as easy as clicking a button ...
1
vote
1answer
353 views
Are marketplace lenders subject to fair lending laws?
Are 'marketplace' lenders, such as those using Lending Club or Funding Circle, etc., subject to fair lending provisions, such as the Equal Credit Opportunity Act or the Fair Lending provisions of the ...
4
votes
2answers
1k views
Bank is not depositing my promotion bonus
I opened a bank account in response to a promotion in a big bank (I'm in the US). Originally it was saying "if I keep my money (50K) for 60 days, I get $600". The agent at the branch didn't say ...
3
votes
3answers
130 views
Could leaking insider information eliminate insider trader concerns?
Suppose I possess some non-public information about Company X. I want to trade Company X's stock for reasons unrelated to the information (e.g. I believe the stock market as a whole is going to tank ...
2
votes
0answers
55 views
Is there a difference in “termination of employment” qualifying event trigger between group health insurance and 401(k)?
My job uses a Professional Employer Organization to handle payroll and benefits. This is a coemployment relationship, not temp/staffing, nor subcontract. The PEO is the issuer of my W-2 and listed ...
2
votes
1answer
53 views
Would there be any legal risk to informing bank that you have been given an account number your believe is compromised?
This question was asked on the financial stack exchange. The basic premise is that someone is giving another individual 'their' account number and telling the individual to take money out of it to ...
0
votes
0answers
25 views
What is the minimum required pre-provision net profit (PPNR)?
Is there a minimum required pre-provision net profit (PPNR) stated by Comprehensive Capital Analysis and Review (CCAR)? Or how else does the Fed evaluate stressed PPNR in its tests?
2
votes
1answer
103 views
Why is English law so important to finance?
What are the features of the English law that make it so indisposable to international finance and particularly offshore companies?
I've recently bumped into this passage when reading about Cyprus, ...
2
votes
1answer
105 views
Car Loan Company not providing pay statements
The relevant jurisdiction is Michigan. How often must a large loan company deliver statements of account? When a statement on an auto loan has not been received in some time (several months) and one ...
1
vote
1answer
28 views
Where can single-asset alternatives be marketed to retail investors? [closed]
I know that in most countries/markets alternative investments can be marketed and distributed to retail investors... but only through pooled investment vehicles, i.e. funds.
My question is then, ...
1
vote
1answer
183 views
For a politician, is a lunch outing with Warren Buffet considered a $650,000 gift?
There is a story in the news about Nikki Haley (now former US ambassador to the UN) taking trips in a friend's (and political supporter's) private jet.
See story: Watchdog wants investigation of ...
2
votes
2answers
124 views
Can a bank foreclose on a home of a person who has been kidnapped?
Say that an American homeowner is traveling overseas and then he/she is kidnapped by a terrorist organization.
Does the American bank which gave that person the home loan have the legal right to ...
0
votes
1answer
36 views
One Unit Trust with many classes of unitholders: is it possible?
If different assets are contributed to a Unit Trust, say one real estate property in San Francisco and one real estate property in Los Angeles, can the Deed of Trust specify 2 classes of beneficiaries/...
0
votes
2answers
57 views
Is it legal to charge a percentage service fee?
The example is ACME Company has a payment processing system that companies X, Y, and Z can use. It enables more features than just "payment" processing, and it enables more than just "credit card" ...
0
votes
1answer
39 views
What makes a stock exchange “private”?
I’m trying to understand the difference between a public and a private stock exchange, or any exchange for that matter.
I guess that I and another 10 people made an agreement and started trading some ...
0
votes
1answer
100 views
Is it illegal to purchase stocks with money that came from a Brinks truck?
There have been many times over the years when a Brinks truck has overturned, or the security guards forgot to lock the rear doors, and money came out of it while in route to its destination.
Say a ...
4
votes
1answer
95 views
Can I fight a charge from forgetting to cancel a subscription?
I just got charged a substantial fee for renewing some domains that are years old, (old enough that my card on file had expired, so I don't know how they even managed to charge it) that I had ...
3
votes
1answer
23 views
Is there a site that lists all EU members' Statutory Instruments for specific laws (like MLD4, UCITS etc.)
I'm new here and don't have a law background but my field (finance) often overlaps with legal aspects quite a bit.
I was hoping someone might be able to steer me in the direction of a good (free!) ...
2
votes
0answers
40 views
Familial exemption for investment advisor representative
My parents have asked me to trade for them and they offered me a fraction of any profit. My plan is to set up a limited trade agreement and then manage the account's trades.
Before doing so, I want ...
3
votes
0answers
10 views
Familial exemption for investment advisor [duplicate]
My parents have asked me to trade for them and they offered me a fraction of any profit. My plan is to set up a limited trade agreement and then manage the account's trades.
Before doing so, I want ...
5
votes
3answers
681 views
Why don't US prosecutors press for imprisonment for crime in the banking industry?
In this article by The Guardian published two days ago they report:
RBS bankers joked about destroying the US housing market after making millions by trading loans that staff described as "total ...
0
votes
2answers
39 views
Financial Debt Transaction question, Compliance/accounting laws
I am an IT Database person at our company. Our company does not have a financial transaction interactive program for business users, to log customer debt payments or debt increases. So they are ...
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votes
1answer
323 views
What legal entity(s) would be best for startup funded by kickstarter or other investment?
Assuming someone is going to start a business that is to design, build and manufacture a small electronic handheld device.
They post campaigns on Kickstarter, Indiegogo, and other crowd-funding ...
0
votes
2answers
139 views
'payable in like kind'? 'non-electing' shares?
each share of Series B Preferred Stock shall, by virtue of such
transaction and on the same terms as apply to the holders of Common
Stock, be converted into or exchanged for the aggregate amount ...
1
vote
1answer
59 views
interpretation of an article
The term "Common Stock" as used in this Appendix B means the Company's
Common Stock without par value, as the same exists at the date
of filing of the Amendment to the Company's Amended Articles ...
0
votes
1answer
55 views
Non-ERISA Fiduciary Responsibility for New York State
I would like to know ERISA equivalent for a government organization in New York State
https://www.asppa.org/Resources/Publications/Plan-Consultant-Online/PC-Mag-Article/ArticleID/5217
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votes
1answer
67 views
Were laws broken, can I use in civil or small claims?
Long story short my girlfriend of 5 years how to debit card to my savings account and every payday I would deposit $500 into the savings account for her to use and this went on for approximately the ...
0
votes
1answer
126 views
Are there countries that prohibit charging interest?
Is it true that Saudi Arabia prohibits charging interest? What about UAE? Are there any states actually prohibit interest rates?
10
votes
3answers
15k views
What can happen if the US President has violated campaign finance laws?
There has been recent news about President Donald Trump possibly breaking campaign finance laws due to a repayment made to one of his lawyers.
NPR: Trump Admits To Authorizing Stormy Daniels Payoff, ...
5
votes
1answer
101 views
In what order do collateral and guarantees pay off a defaulted loan or bond?
Company A is issued a loan that is guaranteed by Company B and is secured by liens on Company C's assets.
Company A defaults on its loan. In what order are the collateral and guarantees used to pay ...
1
vote
1answer
40 views
Does one need to be FCA authorised to charge interest on a loan to a friend?
The FCA guidance largely focuses around businesses intending to provide credit; there is little in the way of information on what the stance is when a friend-to-friend loan is made that involves ...
1
vote
1answer
97 views
Can a non-insurance company create a financial “float” like insurance companies do?
Insurance companies use "float" money taken in from premiums. Even though it is not their cash they invest it as long as when needed they can pay a customer claim. Could a non-insurance company that ...
3
votes
0answers
112 views
How liable is a seller that was unknowingly paid using stolen funds?
I sold some of my Bitcoins on LocalBitcoins UK to an account that appears now to have paid using stolen funds from a hacked bank account. I checked that the buyer was ID-verified with LocalBitcoins ...
