Looking to start an e-commerce business that in no way conflicts with my role in PE but I have no idea what the rules are with regards to outside business activities. Anything to be worried about if I form an LLC under my own name? I guess I'll have to dive into the HR portal but thought I'd ask here anyway.
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Have to report it as outside business activity
Need to report as an OBA but shouldn't be an issue
As mentioned above, you need to report it as an OBA. E-commerce shouldn't be an issue at all. There are regulatory provisions about ensuring sufficient time and attention is dedicated to your day job, so you might get a second glance if it's something that takes up a decent amount of time, but I would still expect you to get the go-ahead from compliance. Bigger issues tend to be when capital raising gets involved - obviously you can't run a competing PE business, but seemingly innocuous things like forming a joint LLC to buy a rental property or bringing in a partner to finance your inventory can sometimes run afoul of trigger happy regulators.
You should be completely fine, just make sure you go through the appropriate channels and documentation
Got it, thank you. No conflicts of interest and no capital raising but you never know with compliance so I wasn't sure whether to report it or just say f*** it and plow forward. I'll go through the right channels
Depends on the firm. This would be a question for your boss/HR to get total clarify.
good luck, but just as a warning it may be hard to have enough time to dedicate to this to make it successful unless you already know what you are doing
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