

Ask HN: Are there Rules/Regulations for starting an Investment Company? - captaincrunch

Are there any special rules, or regulations for starting an investment company in US or Canada?  If so, could you post some info links?
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alttab
Yes. Tons. Just ask Bernard Maddoff. Check out the SEC for more information.

You will need an entire team of lawyers.

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captaincrunch
So the likely hood of a start-up in investments, is pretty much out of reach.

Was just thinking about how easy/hard it would be to take money from
customers, invest it, and payout any profit.

My friend has a guy who takes his money, and invests it for him (he's a
private broker) - would this broker also need a team of lawyers? Or is he more
of an accountant?

In terms of everything else, I could give anyone $10k, and tell them to go
across the street and buy mutual funds... with a written agreement to pay me
the profits... couldn't I?

Just trying to better understand...

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rada
All brokers have Series 7:

[http://en.wikipedia.org/wiki/General_Securities_Representati...](http://en.wikipedia.org/wiki/General_Securities_Representative_Exam)

