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Questions Answered by Kevin Mcbride
1 Answer | Asked in Stockbroker Fraud for California on
Q: I developed an algorithm for stocks. It tells you which stock to buy and when. Can I publish these trades in an app ?

I do not have any licenses (7, 63, 65). With the appropriate disclaimer, can I publish these trades in app or newsletter for a monthly subscription fee? If no, would the answer change if I was simply listing the trades I made in my own account (as opposed to providing advice) ? ie....not a... Read more »

Kevin Mcbride
Kevin Mcbride PRO label
answered on Nov 23, 2022

The question is really whether the activities identified in your question would fall under the Investment Advisers Act of 1940 (15 USC s. 80b, et seq.) which identifies advisory activities in section 202(a)(11) (15 USC 80b-2(a)(11) essentially as follows:

an investment adviser means any...
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