Is it really to be disclosed all brokerage name and investment details for financial employer?

Chase / IT DaItguy
Sep 9 30 Comments

What if we don't. Any way if they can find that out?

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TOP 30 Comments
  • Flagged by the community.

    • Salesforce
      OHANA GANG

      Salesforce

      PRE
      Netflix, Google
      OHANA GANGmore
      And the answer is no, no it is not
      Sep 9
    • Chase / Eng Sha_
      Racist shit
      Sep 10
    • Bloomberg / Eng F.U. money
      So now when somebody can’t speak or write, people should not say that they don’t understand, because it’s racist? Oh ok 👌🏻
      Sep 11
  • Credit Karma
    SrfrBoi69

    Credit Karma

    PRE
    Google
    SrfrBoi69more
    It is really to be disclosed all?
    Sep 9 0
  • Chase
    ptgi36

    Chase

    PRE
    Neuberger Berman
    ptgi36more
    They will find out, and you can get in a lot of trouble if you don’t disclose them intentionally. They have to monitor all employee trades for insider trading and restricted securities. You have to pre-clear ALL personal self-directed trades, buy or sell, with compliance. I don’t think you have to disclosed separately managed accounts, as you are not making your own investment decisions, but you should reach out to compliance regardless.
    Sep 10 0
  • Salesforce
    OHANA GANG

    Salesforce

    PRE
    Netflix, Google
    OHANA GANGmore
    Yes, of course they can find out. Don't get clever
    Sep 9 1
    • USAA / Project
      hpQp14

      USAA Project

      PRE
      USAA
      hpQp14more
      If they already know then why are they asking? Just like IRS.
      Sep 10
  • Merrill Lynch / Finance gopro17
    Possible to hide but the omission most likely will be caught eventually even if not caught immediately. Best to disclose all and get things cleaned up. If worst comes to worst start making a list of extremely trusted friends/ family (not spouse or children)
    Sep 10 0
  • TD Ameritrade pvCS44
    Yes, mostly to satisfy regulatory requirements.
    Sep 9 0
  • Capital One / IT scancans
    What if you trade in an account in your spouse's name
    Sep 11 1
    • Salesforce
      OHANA GANG

      Salesforce

      PRE
      Netflix, Google
      OHANA GANGmore
      Oldest trick in the book, they can and will find that out too
      Sep 11
  • Goldman Sachs / Eng fWRn37
    Depending on the firm and business unit, index funds MIGHT be okay without Preclearance. Advise to read the fine print or check with compliance. Also edge cases, I.e might not be allowed to short, puts, etc.
    Sep 10 1
    • State Street Corporation zdps
      Yeah. If you are not finra it can be a simple restriction like no inside trading, short sell. And transaction reports quarterly
      Sep 10
  • Goldman Sachs gpSh21
    Google bill tsai
    Sep 10 1
    • Merrill Lynch / Finance gopro17
      🤣
      Sep 10
  • Chase kQxw50
    Lol Chase does not allow employees to have a Robinhood account so i’ll “have” to close it. But in order to close it, you have to sell everything or transfer. To sell them, you have to put in preclearance for everything. To get preclearance, you have to have your shares at least 30 days to get cleared and manager approval and sell it on the same day you get the clearance.
    Sep 10 0
  • Chase / IT DaItguy
    OP
    Thanks all for the insight.
    One more question which I forgot to ask earlier is about the side hustle. I'm also a co-founder on a startup and have equity but not getting paid. Do I need to disclose this as well, if so just fearful if they ask to withdraw from it.
    Any thoughts/suggestions will be appreciated!
    And my employer is blackrock.
    Sep 10 2
    • Chase / IT DaItguy
      OP
      Correct
      Sep 10
    • Chase / IT DaItguy
      OP
      Don't mind telling but not sure if I'm asked to let it go!
      Sep 10
  • Voya / Finance
    Blind867

    Voya Finance

    PRE
    Voya Financial
    BIO
    I analyze mutual funds and am working towards being in Equity / Debt Research and Valuation.
    Blind867more
    They'll fire you so fast if you don't, PLUS you could face fines and penalties.
    Sep 11 1
    • Wellington Management hmm19
      And that would also mean unable to be employable by most of financial firms.
      Sep 11
  • AssetMark mLKjr85
    Do you really want to be in a position where you might be accused of lying by your employer because you withheld information?
    Sep 11 0
  • Lord, Abbett & Co. LLC 2NxtLvl
    Don’t take a chance: disclose it. Due to fiduciary duty and regulation, they have to do this
    Sep 11 0
  • Wells Fargo / HR
    djktmrco

    Wells Fargo HR

    PRE
    State Farm, Paychex, Target, Verizon
    djktmrcomore
    Well, if you don't disclose it, and your employer finds out, then you'll lose your job :/
    Sep 10 0
  • Morgan Stanley NeVb45
    Any way they won't find out?
    It's pretty serious stuff
    Sep 10 0
  • Wellington Management hmm19
    Yup definitely disclose for compliance reasons.
    Sep 10 0
  • Goldman Sachs / Eng TdJa04
    Lol just disclose and open a new acct with an approved broker
    Sep 10 0
  • Merrill Lynch Blami
    Yeah ML performs a sweep of accounts and compliance has a list of all your accounts both outside and at ML. If you have accounts they will find out.
    Sep 10 0
  • State Street Corporation zdps
    Broker may ask you for employer name, like Vanguard did in my case. And they simply denied opening an account without approval letter from compliance team. Weirdest experience. Fidelity can push data automatically as well. There are automatic feeds between financial institutions as I understand
    Sep 10 0

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