Legal Question in Investment Law in California

bank forces employee's spouse to hold stock for 30 days or more
My wife works for a bank, which recently enforces a policy that restricts me from selling any stocks that I buy within thirty days of purchase. I have suffered financial losses time and again because I had to hold money losing positions that I would have sold earlier had I not been required to hold them for at least thirty days. Can the bank legally enact such a policy? Isn't it interfering with interstate commerce (as I live in California and my brokerage firms and the NYSE are out of state)? Is the bank violating my civil right to conduct commerce freely and legally?
Please advise.
Thanks!

Asked on 5/11/08, 4:08 am

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

0 users found helpful

0 attorneys agreed

Re: bank forces employee's spouse to hold stock for 30 days or more

This has been answered under another topic heading. If the answers are insufficient, please contact the answering attorneys directly.

Answered on 5/12/08, 12:54 am

Keywords

Match Any Match All

Country

State

Area of Law