He is responsible for indicating on his account that he is an officer, director, or affiliate of a public company whether he is a stock broker, licensed with FINRA or not.
Secondly, if I am a stock broker with Morgan Stanley, and open an account at Merrill, I have to inform my compliance at Morgan Stanley and get approval before doing so. Even if he has a Joint Account with a spouse on an IRA at another firm, he has to inform his employing broker dealer. To open another account at a another firm to hide insider trades, this guy will be banned from the industry.
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