Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. A cookie is a piece of data stored by your browser or device that helps websites like this one recognize return visitors. We use cookies to give you the best experience on BNA. Some cookies are also necessary for the technical operation of our website.

For even more information, see Privacy Policy: Our Policies Regarding the Collection of Information. Forgot your username or password?

An integrated legal research and business intelligence solution, combining trusted news and analysis with cutting-edge technology to provide legal professionals tools to be proactive advisors. Combines powerful, easy-to-use, compliance tools, auditing software, and analysis with continuously updated federal and state laws, regulations, and documents. Your HR and Payroll compliance and policy solution!

Comply with federal, state, and international laws, find answers to your most challenging questions, get timely updates with email alerts, and more with our suite of products. Games can be fun, but the SEC Enforcement Division was not amused by a fantasy stock trading game offered by Forcerank LLC. Forcerank offered a mobile phone game in which players paid a small entry fee to participate, and won points and cash prizes for predicting the order in which 10 securities would perform relative to each other.

Forcerank kept 10 percent of the entry fees and paid out the rest as prizes.

The Commission noted that "[t]he term 'based on' does not require an exclusive relationship between the payment and the movement of a security. The company also failed to sell the gaming contracts through a national securities exchange. The company also shut down the stock picking game. The Commission noted, however, that as of June , the company planned to increase the number and size of the games it offered. The SEC is obviously concerned about these stock trading games.

In June , the Commission issued an Investor Alert to warn investors that fantasy stock trading and other similar websites may violate federal securities laws designed to protect investors from abuses in the swaps market.

The SEC staff is reviewing new and evolving versions of these games, including paid and unpaid models, to determine if these offerings to retail investors violate the federal securities laws, including the swaps provisions of the Dodd-Frank Act. In the Matter of Forcerank LLC , SEC Release No. Call us for a prepaid UPS label for your return. And, you may discontinue standing orders at any time by contacting us at 1.

Returnable within 30 days. Notify me when updates are available No standing order will be created. This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published.

By signing up for standing order you will never have to worry about the timeliness of the information you need. Put me on standing order. Notify me when new releases are available no standing order will be created.

Smartstocks - User Registration

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Subscriptions Books Marketing Services Professional Learning.

News Insights Newsletters White Papers Videos Podcasts Blogs. Federal Tax State Tax International Tax Estate Planning Financial Accounting. Bloomberg BNA Tax and Accounting. Subscriptions Portfolios Books Marketing Services Professional Learning. News Newsletters White Papers Videos Podcasts Blogs. Subscriptions Marketing Services Professional Learning Reports.

HR Administration International Human Resources U.

Home | Fantasy Stock Traders

News Newsletters White Papers Videos Blogs. ALL PRODUCTS All Products Subscriptions Portfolios Books Professional Learning. About Us Executive Team Media Careers Contact Us. Home Legal Insight Center Fantasy Stock Trading? Not So Fast, Says the SEC. Accounting Blog Estate Tax Blog Federal Tax Blog International Tax Blog Payroll Blog SALT Talk Blog.

HR Blog Payroll Blog.