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>It seems wrong that my personal info is being given out by my brokerage, in a way that lets them identify my personal trades. Unlikely. More likely is that t
by traceroute66 5y ago
>It seems wrong that my personal info is being given out by my brokerage, in a way that lets them identify my personal trades.
Unlikely.
More likely is that the brokerages and/or exchanges submit transactional order-book trade data to the SEC (i.e. anonymous numbers .... timestamps, quantity traded, direction).
If the SEC then spot something, its just a case of picking up the phone to the brokerage and asking to ID the client for the transaction at a given timestamp.
- not2b 5y agoThe IRS gets information from your brokerage on your trades with the proceeds and cost basis for each.
- kenned3 5y agoNot exactly. Most exchanges require the client details to be sent to them (encrypted) so the regulators can see who is behind the orders on a real-time basis. Canada for example is behind the times here, but has a program to address this : https://www.iiroc.ca/members/client-identifiers https://www.iiroc.ca/members/client-identifiers If you are a corporation, you are required to provide your "Legal Entity Identifier (LEI)" If you are a retail client, your account number is sent.
- andylynch 5y agoIn some jurisdictions (like UK & EU) the regulator automatically receives at least the name, birthday and national ID of each client concerned with a trade and the IDs of the traders involved. If they want more details they just need to ask.