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Operations, Compliance, and Tax

Under development

This lesson is part of the course scaffold and is being actively written. The learning objectives and outline below define its final scope.

Learning objectives

By the end of this lesson you will be able to:

  • Implement a daily trade-reconciliation process against broker records, classify breaks, and resolve them systematically
  • Calculate NAV for a trading entity, including position pricing, expense accruals, and fee crystallization
  • Map the compliance obligations — registration thresholds, record-keeping, marketing rules — that apply to a trading business at a given jurisdiction and AUM level
  • Identify the major tax considerations for trading entities and formulate the specific questions to bring to qualified professionals (orientation, not advice)

Outline

  1. Trade reconciliation — broker versus internal records, break classification, resolution
  2. NAV calculation — pricing sources, accruals, fee crystallization
  3. Broker and custody relationships — selection, negotiation, redundancy
  4. Compliance obligations by jurisdiction — registration and exemption thresholds
  5. Record-keeping and marketing rules — what must be retained and for how long
  6. Tax considerations for trading entities — entity type, trader status, cross-border issues (general orientation, not advice)
  7. The operations calendar — daily, monthly, and annual obligations on one page

Prerequisites