Could a parent's occupation be an issue for compliance/should I declare it?
Will be doing a summer internship in a BB. One of my parents is restricted from investing in certain financial products due to their occupation. I won't have any contact with the products in question (let alone any decision-making power) and the compliance forms don't cover my situation. They also did very extensive background checks - my parent's job would have definitely come up, and since nobody flagged it up with me I assume it's fine. Having said that I'm tempted to double-check with compliance - don't want trouble down the line. But I feel as though I'd be making something out of nothing. Thoughts?
if your job entails you investing in those products, then yes I'd declare it. otherwise, keep it to yourself.
You yourself haven't signed anything prohibiting you from investing in anything. Nobody can make binding agreements on your behalf (assuming you're not a minor). In fact even if you did invest in these products you wouldn't be breaking any laws, unless and if they can prove that you've actually used insider information.
So just ignore it and don't say anything. Why create extra headache for yourself.
Banks often restrict their bankers on what they can invest in, even without inside information. It may not be against the law to breach these but it's grounds for termination with cause. I, for example, can't trade anything involving a company where we have a banking relationship (in any industry) nor can I trade on any index funds that are focused on my sector. It's for these reasons that bankers pretty much only invest in index funds.
When in doubt it's always best to proactively clear any potential issues with compliance before they become an issue. Likely if the above situation was a potential conflict, it would just create increased monitoring--it wouldn't cause the OP to lose an offer or anything that.
If nothing applies to your situation, there's no need to declare anything. But if you come across anything that you're unsure of, definitely speak with HR. You don't want to not get a return offer because you didn't take the time to ask a question when you were unsure. (Or get canned right after you start)
Sapiente enim voluptatem odio. Quidem voluptas doloremque est aut. Assumenda excepturi voluptatem consectetur voluptatibus.
Dolor minus recusandae harum nisi doloribus cumque. Nesciunt voluptatibus repellendus et vel sequi molestiae corporis. Quo et est deserunt.
Modi harum cumque aliquam quo laborum dignissimos nihil quae. Dignissimos eius in ullam blanditiis. Ipsam nam sint excepturi et eum qui incidunt.
Quam eaque inventore id beatae architecto asperiores. Nihil distinctio eum voluptatem dignissimos in. Ad veniam perspiciatis exercitationem deserunt et reiciendis. Cupiditate ea ea unde iste perspiciatis cumque id aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...