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Questions tagged [finance]

Questions involving fungible assets -- especially securities and loans (mortgages, debts, etc.).

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2 votes
1 answer
207 views

Is Berliner Sparkasse's request for the list of all members of "Jewish Voice for a Just Peace" lawful?

Novara media published an article titled "Germany Is Seizing Jews’ Money Again It’s fine, they’re pro-Palestine" by James Jackson The bank [Berliner Sparkasse] demanded a list of the names ...
Ona's user avatar
  • 457
0 votes
1 answer
66 views

Is there some law that requires businesses to erase your financial information after a period of time?

So for context, during the year 2021 I had a gym membership with Vasa fitness. At the end of 2021, I cancelled the membership (properly, there was no charges after this for years). Now a few days ago, ...
Justin T's user avatar
  • 103
1 vote
1 answer
45 views

No valid contact info for 401k sponsor to allow transfer of funds [closed]

I was employed from 2018-2020 by Company A, during which I contributed funds to their 401k plan. I was laid off from A in 2020. At some point in time after this, Company A was acquired by Company B. I ...
Larold's user avatar
  • 13
4 votes
1 answer
847 views

If I'm about to do something that will cause a stock price to move, can I legally profit from it?

For example, suppose that instead of flying planes into the World Trade Center, Osama bin Laden had decided to fly planes into Microsoft Campus. He can therefore predict with high confidence that MSFT ...
Allure's user avatar
  • 2,905
1 vote
1 answer
70 views

Seller Financing a Car and repos

Let's say someone wants to sell a car to an individual via seller financing.. The individual puts down 1,000$ and finances the other $3,000.. and agrees on monthly payments of 200$ the seller becomes ...
user55665484375's user avatar
22 votes
5 answers
8k views

Is Intentional Bankruptcy Illegal?

This is a completely hypothetical scenario and so I'm happy for answers for any jurisdiction, however I'm based in the UK and so some of my terminology may be specific to there. What is the legality ...
Luke's user avatar
  • 323
6 votes
1 answer
477 views

Do FCA rules mean financial firms have to refuse service if their customers are not knowledgeable enough?

I recent weeks I have had emails from multiple cryptocurrency exchanges requiring me to fill in a document online to keep using their services. They describe this as a questionnaire but say "You ...
User65535's user avatar
  • 6,844
6 votes
3 answers
2k views

Are trusts shielded from legal penalties?

Imagine suing a person for copyright infringement, defamation, or whatever. You win your case, and a judge awards you $1 million. However, the person you sued has a nice job and a beautiful home, but ...
Paredon's user avatar
  • 427
-3 votes
1 answer
134 views

Is it legal in the UK to lie and provide fake documents to get past AML checks? [closed]

Over the last few years, I was a self-employed consultant working as a contractor for a foreign startup that was successful and compensated me generously, including with stock options that I exercised ...
ThrowawayCabbage's user avatar
0 votes
1 answer
309 views

Is it legal for an American citizen to obtain BRICS currency and then exchange those bills for U.S. dollars sometime in the future?

I would like to know if it is legal for an American to go to a foreign exchange bank in their area, exchange a certain amount of U.S. dollars to obtain the bills of the foreign currencies of the BRICS ...
user57467's user avatar
  • 1,543
1 vote
1 answer
100 views

Are venture capital firms allowed to invest in more than one company in the same category?

If a venture capital firm is currently funding a company in category X, are they allowed to fund another company in the category X who are direct competitors? Would the first company be able to sue ...
Bear Bile Farming is Torture's user avatar
6 votes
1 answer
1k views

Can you initiate a lawsuit against Russia in the United States to recover seized assets?

Ever since the start of the Ukraine conflict in 2022, Russia has halted payments to international creditors and individuals holding assets like stocks. Is it possible for an average person who happens ...
AlanSTACK's user avatar
  • 2,060
1 vote
1 answer
106 views

Any laws against scalpers that buy all stocks of a product and sell them for outreagous prices?

This might already be known, but there are peoples (some call them scalpers) that buy entire stocks of a specific product (e.g.:a specific graphics card model, etc) and then sell them for outrageous ...
Nordine Lotfi's user avatar
2 votes
0 answers
95 views

Must US brokers send an FYI about market orders to their clients who placed a market order in the past month by law?

I placed a market order with my US brokers, namely IBKR. I received the following in an email from them: Please note that we will send you similar FYIs each month in which you place a Market Order, ...
Franck Dernoncourt's user avatar
-1 votes
2 answers
159 views

What recourse is there for a student who took a costly federal loan through their school based on incorrect info from the financial aid office?

If a student takes a federal loan (through their school) based on incorrect information from an officer of their school's financial aid office, which causes them to have to pay more money than the ...
olivarb's user avatar
  • 109
0 votes
1 answer
73 views

Low-Ball Buyout Offers in Multi-Class Share Structures: Protecting the Interests of Series A Stockholders

In USA listed-stock (even ADR), when there are two series (classes) of stocks: A (common) and B. Say, series B is not tradable but has above 90% of voting power despite the number of shares are much ...
discipulus's user avatar
4 votes
1 answer
199 views

Deceased spouse still on bank account

If one leaves deceased spouse on joint bank account, what happens? If one leaves deceased spouse on home deed, what happens? Note, Soc Sec has been provided with copy of death certificate. Accounts ...
paulj's user avatar
  • 1,581
1 vote
0 answers
46 views

What is an OFAC "prohibited transaction"?

so obvious first step: the official OFAC F.A.Q. (i.e. of the U.S. Office of Foreign Assets Control in the U.S. Treasury Department): 3. What does one mean by the term "prohibited transactions&...
Brenda.ZMPOV's user avatar
1 vote
0 answers
32 views

What requirements does the CFTC vs Ooki DAO Default Judgment place on token holders?

On June 8th, 2023 the District Court, N.D. California awarded default judgment against Ooki DAO for allowing illegal trading of digital assets, engaging in activities only allowed by registered ...
User65535's user avatar
  • 6,844
2 votes
1 answer
218 views

Do I have any rights if PayPal permanently suspend my account?

I recently had a message from PayPal telling me that my account has been permanently suspended due to 'unacceptable risk'. I have only ever used it to make small payments to eBay and such, and I have ...
Jojo's user avatar
  • 213
0 votes
1 answer
83 views

Would returns from investing in stocks cause one to reach the tax barrier on a student visa?

As far as I understand, one can earn about 850ish euros per month (as of 2023) without tax on a student visa source. Also, I learned that investing while on a student visa as a non EU international is ...
Babu's user avatar
  • 1,359
0 votes
0 answers
81 views

bank account ownership verification from an IBAN

In a hypothetical scenario, an employee of a company A that makes eight digit annual income writes on an invoice IBAN of his bank account instead of the company IBAN. How can a different company B ...
Jennik's user avatar
  • 175
-3 votes
1 answer
94 views

Reduce risk of large child support payments for life [duplicate]

Lets say hypothetically there is a man and a women. The man makes a relatively high income and is involved romantically with the women. The women asks the man frequently to have a child with her. The ...
user55665484375's user avatar
2 votes
0 answers
54 views

Anti Money Laundering (AML) information on the beneficial owner for clients of a custodian

A custodian bank has a client which is an investment arranger. The funds of the investment arranger's clients are held at the custodian. The custodian has flagged one of the investment arranger's ...
M. Guillaume's user avatar
0 votes
0 answers
139 views

How does ‘piercing the corporate veil’ work for publicly traded companies?

I have read a bit on the internet about personal and firm bankruptcy. I know the bankruptcy process for companies on several business structures (such as LLC’s [limited liability companies] and joint-...
Nicolas Torres's user avatar
0 votes
1 answer
67 views

Is there any legal maximum amount of time that a bank may take to refund a customer's account following a failed wire transfer?

Wire transfers sometimes fail. Is there any legal maximum amount of time that a bank may take to refund a customer's account following a failed wire transfer? I'm interested in the following ...
Franck Dernoncourt's user avatar
1 vote
1 answer
46 views

Does SIPC offer protection in any scenarios other than a brokerage firm being liquidated due to being financially troubled?

I can imagine funds being lost due to hackers or fraudsters stealing assets from an account, or simply an unreasonable brokerage institution refusing access to a customer of their assets. Does SIPC ...
UBSOS23's user avatar
  • 51
0 votes
1 answer
140 views

What permits needed for a company to issue its own prepaid card?

What laws apply to companies that wish to issue their own prepaid cards? The cards can only be used to buy goods/services from the company The cards are refundable, and the remaining balance can be ...
Ilya Gazman's user avatar
1 vote
0 answers
181 views

Do shareholders of a private company have a right to financial data?

An employee of a private company is given company stock options. The employee exercises those options, and receives a signed certificate for the shares. Correct me if I'm wrong, but I think this makes ...
Douglas's user avatar
  • 111
0 votes
1 answer
79 views

Copying a customer's orders

Would this be a legal thing to do? A major brokerage firm has many active customer accounts. It looks at the performance of these accounts. Let say it finds several where the rate of return per month, ...
Bob's user avatar
  • 1,203
1 vote
1 answer
87 views

As an investor of a business, how do you prevent the founder from holding back growth?

If you are an investor who owns 30% of a business and the founder owns 70%, how do you prevent a situation where the founder decides to always take profits and not reinvest them to grow the business? ...
Rax Weber's user avatar
  • 111
4 votes
3 answers
503 views

What is the legality of two (or more) trade partners trading (i.e. billing) each other in a mutually agreed units of exchange

Assuming that company A (based in say, the US), wants to trade with another company (B say), based in say, Germany (or anywhere else in the world). Assuming that these two companies have agreed to ...
Homunculus Reticulli's user avatar
5 votes
2 answers
1k views

Legal basis for "discretionary spending" vs. "mandatory spending" in the USA

1. "Discretionary" and "mandatory" dollars My general understanding of the federal budget process in the USA is that: discretionary spending must be "appropriated" by ...
Curt F.'s user avatar
  • 153
2 votes
1 answer
452 views

What legal rights do I have after paying a deposit for some building work?

I recently got some quotes in for refitting the garage door on my house. This obviously involves the builder making a substantial one-off purchase of a door to my specifications which he is going to ...
Bob Tway's user avatar
  • 175
0 votes
2 answers
121 views

Trying to find a payday loan scam contract

I read about one of the largest payday loan scammers in the United States of America being caught and eventually found guilty. The case was interesting because the company tried to avoid state law by ...
user5623335's user avatar
  • 1,154
0 votes
0 answers
71 views

I have trading restriction on my company stock. Can I trade correlated ones?

I work for a company that is listed on the Nasdaq. Each quarter, employees have trading restrictions six weeks before the company results are released and two days after the release to avoid insider ...
Begoodpy's user avatar
  • 101
1 vote
1 answer
62 views

Corporate China - evicting onshore management via reproduced chops

Another weird and wonderful story out of corporate China has captured my attention. Relevant excerpt: It’s a situation that’s difficult to picture in much of the capitalist world, with its emphasis ...
Arash Howaida's user avatar
3 votes
1 answer
67 views

What are the consequences of being party to a OFAC prohibited transaction?

The US Treasury has sanctioned Tornado Cash which is a tool for mixing Cryptocurrency. Since the sanctions don't actually stop this tool from working someone has used it to send small amounts of funds ...
blues's user avatar
  • 165
4 votes
1 answer
766 views

Does it actually do anything legally to state "this is not financial advice" after giving financial advice?

When people talk about investing online they often say "this is not financial advice" after giving financial advice. Sometimes they use it as a twitter bio in an attempt to immunize ...
Matt Korostoff's user avatar
3 votes
0 answers
332 views

Can an Australian bank legally issue bank accounts and Visa cards without obtaining proof of identity from the person requesting the account?

This is the first time I have posted to StackExchange so please excuse me if my question is out of scope, is in the wrong place or goes into too much back story. Any assistance would be greatly ...
Hotblack Desiato's user avatar
2 votes
0 answers
19 views

Corporate reorganization - subsidiary rejoins parent?

I'm looking for a term to describe when a previously structurally segregated entity is brought back under the parent. I suppose merge isn't wrong here but I wondered if there was something more ...
Arash Howaida's user avatar
0 votes
0 answers
30 views

Can a financial service be extended at seller discretion and goodwill?

An FX Broker based in Ireland sold me over the phone a currency rate to transfer U.S. Dollar to Euro. The term of the deal I received by email stated the currency rate and a maturity date of two days ...
Begoodpy's user avatar
  • 101
19 votes
4 answers
4k views

Is it against the law to sell Bitcoin at a flea market?

I think this would be a cool side gig and I have some ideas about how to make Bitcoin more accessible to the general public. But I don't want to break the law either. These would be normal flea ...
user875234's user avatar
1 vote
0 answers
72 views

Is it legal, with no licensure, to sell subscriptions to a blog offering opinions on future stock prices, even if the opinions are non-individualized?

To elaborate, let us take an instance where price predictions would be derived from computer models, and where predictions are disclaimed as being "opinions rather than financial advice". ...
OffSwitch's user avatar
-2 votes
2 answers
95 views

Collapse of a money lending company

According to Businessinsider, Nelnet is having massive layoffs and apparently is collapsing. If the actual company holding the debt has its own layoffs, and can't file lawsuits or do anything, does ...
D J Sims's user avatar
0 votes
2 answers
29 views

Escheat of assets/company due to incompliance

As the term is laid out here, escheat is typically when assets are unclaimed (often due to death of owner). However, I'm unclear as to where exactly the emphasis is for this term. Question Is it that ...
Arash Howaida's user avatar
2 votes
0 answers
79 views

Legal validity of the statement: "advise us of any incorrect entries within 30 (thirty) days"

It is standard practice of many financial service providers, in South Africa, at least to state on the bottom of their statement, something along the lines of: Kindly check your statement and advise ...
Anthony Horne's user avatar
-1 votes
2 answers
2k views

If one writes a check with no exact amount but with an upper bound by indicating a "Not To Exceed X USD" on the memo line, is it legally binding?

Example of a check with no exact amount but with an upper bound by indicating a "Not To Exceed X USD" on the memo line of the check: If the person who cashed out the check goes over the ...
Franck Dernoncourt's user avatar
1 vote
1 answer
122 views

On the acquisition of legal rights to sanctioned YouTubers' frozen funds

Note: The following is a thought experiment. Since I am no legal scholar, it is highly likely that its wording needs a lot of improvement. Suggestions for improvement would be most welcome. Suppose ...
Rodrigo de Azevedo's user avatar
1 vote
1 answer
31 views

What, if anything, in the United States, makes executing a private loan agreement different from issuing a private placement bond?

What, if anything, in the United States, makes executing a private loan agreement different from issuing a private placement bond? In other words, how does a corporation know whether to always, ...
Security Concerns's user avatar

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