No. of Recommendations: 3
"Client has legal residence in EU country and is not eligible to purchase US registered ETFs and ETNs...
...
Aaaaah!
I thought the US is a capitalistic country...
That is a bit bizarre.
I have never before heard of a problem for non-US-persons buying US domiciled ETFs or ETNs. Heaven knows I've done it enough in the past, though not lately.
Having looked into it very briefly, apparently it isn't against any US rule, but rather it is forbidden to EU residents by EU rules. Eurofolks have to buy UCITS.
It is forbidden by the US for non-US persons to buy US mutual funds, but that's a different regulatory regime.
I have managed to do it, but it ain't easy.
I had a "wealth management" bank (translation: huge fees) at the time, and they bought it for me...probably under their own name.
Jim
(in Europe, but not the EU)
