Non-Compete When Moving from a Commodity Trading House to HF

Hi everyone,

Looking for some advice from people who have dealt with non-competes when moving between trading firms.

I’m currently in a junior research role at a commodity trading house and have accepted an offer to join a HF while still in probation period. My current role and the new position cover different commodity markets, with materially different responsibilities.

My employment contract contains a broadly worded three-month post-notice restrictive covenant. I’m still within probation, with a relatively short notice period, but the restriction potentially overlaps with my new start date.

The incoming firm’s employment agreement requires disclosure of any restrictive covenants from previous employers and confirmation that these won’t interfere with my ability to join.

I’m trying to understand how this is typically handled in practice, especially given my juniority, short tenure, and the differences between the two roles.

A few questions:

1. Should I proactively disclose the clause to my incoming employer, even if my current employer accepts my resignation without mentioning it?
2. Is it standard for hedge funds to require a formal waiver or written confirmation of non-enforcement from the previous employer, or is disclosure of the clause typically sufficient?
3. Would you recommend proactively requesting a waiver from the current employer, or only doing so if the incoming employer specifically requests one?
4. Has anyone encountered a situation where a broad non-compete became an issue despite the employee moving to a substantially different product or role?

My main concern is creating an unnecessary issue by raising a restriction that may never be enforced, while also wanting to ensure that I meet my incoming employer’s contractual disclosure requirements.

Would appreciate hearing about actual experiences, particularly from people who have moved between commodity trading houses, prop shops, or hedge funds.

Thanks in advance!