Is it legal to use somebody elses login to trade a brokage account?
<p>Person A establish a brokerage account with an online brokerage XYZ. He then gives person B authority to trade the account. The XYZ brokerage account gives person A and person B to different user names. Each user name access the account. Person B then uses person's A account to trade the account.</p>
<p>Did person B break the law? I was told by a broker that he did. It seems to me he did not.</p>

<p>The usual provisos about jurisdictional differences may apply, and the last sentence of the first paragraph currently uses &quot;account&quot; to relate to two different things - I'll assume that sentence means &quot;Person B then uses person A's <em>user information</em> to trade the account&quot;.</p>
<p>It's clear that XYZ expected the two users of the account to use different user identifications - they issued two. An accusation of misrepresentation is most likely to come from the brokerage firm, though it could also come from an internal or external auditor or from A if A assumed that B knew that they were expected to use their own user identification.</p>
<p>There may be mitigation - if A said to B &quot;Here's authority to use the account : these are my login details&quot;, and/or if XYZ did not effectively communicate the separate user details to B, a Reasonable Person could conclude that B had not knowingly misrepresented themselves as A.</p>
<p>As the question stands it looks like an accusation of misrepresentation against B would be both possible and reasonable.</p>

securities