When starting your own business in Merchant banking is it necessary or illegal if you do not register your business? Do I need to organise an ABN number?

Erm...apart from a pot of money, I'm sure you have to be licensed and regulated by the Bank of England?

Joe

Is this desire to start your business because someone once called you a Merchant Banker?

Originally posted by JoeP
Erm...apart from a pot of money, I'm sure you have to be licensed and regulated by the Bank of England?

Joe

Thanks joe I appreciate your response. A so called friend has started his own company and I am unsure whether legal or not. I can not see on his invoices or letter heads etc. a business number showing it is registered with the government or banks. This is what I question... When people are investing with him $50,000 (as an example) there must be a registered business name to do this when receiving amounts such as this no?

Well, I'm not an expert, but....

To invest other people's money, I'm sure you have to be licensed. Also, to take money for deposit I believe you have to be licensed.

He may have all the paperwork and kept it tucked away safe, but I believe some of the license numbers have to be displayed on letterheads, etc.

Joe

Originally posted by JoeP
Well, I'm not an expert, but....

To invest other people's money, I'm sure you have to be licensed. Also, to take money for deposit I believe you have to be licensed.

He may have all the paperwork and kept it tucked away safe, but I believe some of the license numbers have to be displayed on letterheads, etc.

Joe

Hi Joe thanks once again for your feed back.. Just a stab in the dark have you heard by any chance a company called 'Boston Equities"? Thanks again

A Google on 'Boston Equities' returns a truckload of entries - you'd need more information to get precise details, I'm afraid.

There are a couple of Bank employee types on the Forum - they may know more.

Joe

Originally posted by JoeP
A Google on 'Boston Equities' returns a truckload of entries - you'd need more information to get precise details, I'm afraid.

There are a couple of Bank employee types on the Forum - they may know more.

Joe

Thanks Joe really appreciate your time and help..

Take care Carley (Australia)

Ahhh...the rules in Australia will, of course, be different to those here in the UK!

Good Luck.

Joe

An ABN number is ...... an Australian Business Number.

Carley,

You do realise that this Forum is based in,and generally used by people in, Sheffield, South Yorkshire, United Kingdom?

NOT Sheffield, Tasmania!!!:)