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I totally agree.

Licenses/certifications do exist. SBF had the FINRA Series 7 and 55.

https://brokercheck.finra.org/individual/summary/6204362

The loophole is that employees at hedge funds and investment advisers don't face the same licensing requirements as employees at banks and brokerages who deal directly with customers. There are people who trade billions of dollars of customer funds a week without any required regulatory exam or license.

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He had a series 7? Did not know that. But, right, he was a trader with Jane Street, so he had to have a Series 55 and probably the Series 7, which is for brokers. (Everybody in finance takes the SIE, the "securities industry essentials" exam. That should be required for programmers in finance.)

So he knew what he was supposed to be doing.

There are a few trading firms that require all SWE/Traders/Quants to get the Series 7.

I have a Series 7 and have never handled client money, but I wrote software and had had access to these systems.

Not all fintechs are evil.

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