Can you start a side business while in IB?

I am currently an analyst at a BB in New York and was wondering if we can start a side business while working full time. It is not related to financial services and more like a marketing business but would love to get peoples thoughts as this is something not very clear yet in our industry. Don’t want to risk my FT job but at the same time, want to work on something more exciting on the side. 

 

Is that for every bank and also, isn’t it that you can’t do a financial services business? 

 

One of my associates last summer was a former political staffer and briefed politicians on financial matters (compliance hates him)

Didn't get any compensation per se but got whispers ahead of the crowd for gov and municipal debt offerings and spending gravy trains. 

 

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