Questions tagged [finance]

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

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3 votes
2 answers
230 views

Using insider trading knowledge to trade on a competitor

In Australia, there are two major grocery companies, Woolworths and Coles. Now suppose I work for Woolworths and I become aware of a technological breakthrough that will dramatically increase the ...
1 vote
1 answer
91 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 ...
2 votes
1 answer
79 views

What marks the closing of an equity financing?

Years ago, as an angel investor, I invested in a startup company via a convertible note. The note converts on the closing of certain equity financing events. So what determines the closing of an ...
6 votes
1 answer
984 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 ...
2 votes
0 answers
90 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, ...
1 vote
1 answer
101 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 ...
-1 votes
2 answers
145 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 ...
8 votes
3 answers
11k views

Someone withdrew money from my bank account - what are my rights?

Someone withdrew money from my checking account (in several transactions) without my knowledge or permission. I was able to see the withdrawal slips online, and my signature was forged. I reported ...
0 votes
1 answer
71 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 ...
4 votes
1 answer
182 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 ...
3 votes
1 answer
64 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 ...
1 vote
0 answers
43 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&...
-1 votes
2 answers
54 views

Financial Debt Transaction question, Compliance/accounting laws [closed]

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 ...
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 ...
11 votes
3 answers
9k views

Is it a crime to take out a loan with no intention to repay?

This question on Money.SE concerned a person who had taken out a number of loans. He didn't intend to repay these loans in full, planning instead to default and leave the country. Several posters on ...
2 votes
1 answer
206 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 ...
0 votes
1 answer
66 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 ...
0 votes
0 answers
52 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 ...
-2 votes
1 answer
133 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/...
-3 votes
1 answer
90 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 ...
2 votes
0 answers
51 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 ...
0 votes
0 answers
89 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-...
user avatar
0 votes
1 answer
53 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 ...
0 votes
0 answers
76 views

Is "biological sex" legally defined in the context of financial regulation or know-your-client regulations wrt a Bahamas financial firm?

I was signing up to a financial service the other day, and one of the questions was: "Biological Sex" with the options in a dropdown of "Male/Female". I do not know much about the ...
0 votes
1 answer
123 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 ...
1 vote
1 answer
45 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 ...
1 vote
0 answers
63 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 ...
0 votes
1 answer
74 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, ...
1 vote
1 answer
85 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? ...
4 votes
3 answers
500 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 ...
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 ...
2 votes
1 answer
166 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 ...
0 votes
2 answers
108 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 ...
0 votes
0 answers
68 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 ...
1 vote
1 answer
59 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 ...
4 votes
1 answer
366 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 ...
3 votes
0 answers
209 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 ...
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 ...
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 ...
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 ...
1 vote
0 answers
65 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". ...
-2 votes
2 answers
93 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 ...
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 ...
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 ...
-1 votes
2 answers
1k 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 ...
1 vote
1 answer
121 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 ...
5 votes
3 answers
843 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 (also see this PennLive article) This is in Pennsylvania, USA. The facts are presented as follows: One day,...
1 vote
1 answer
28 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, ...
2 votes
1 answer
52 views

Changing tax residency - how does it work?

After my Phd in US, I move back to Syria. Life savings are in my US bank account (Can't trust Syria) Year is 2011 and Syria enters a war. Every single resident of Syria gets OFAC sanctioned. I'm not ...
0 votes
1 answer
89 views

Can the US somehow "claw back" or otherwise recover some of the $35 billion in over-billing by a Singapore-based firm founded by a Malaysian national?

The BBC's US Navy officer 'bribed by cash and prostitutes' begins: Information Commander Stephen Shedd provided to the firm helped it defraud the navy of $35 billion (£26.1bn). The plea is the latest ...

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