Spouses of Big4 consultants cannot invest?
My spouse works at a big4 consulting company and mentioned to me today that I need to disclose my investments and not only disclose but also stop investing altogether else Big4 will penalize us. Is this true? Can anyone confirm that we are not allowed to invest if our spouses work as a manager or above at Big4?
It could be similar to us. Our family has to disclose the investments and have restrictions on what can they do
Yup to avoid being accused of insider trading. A previous company of mine had a similar policy. This was just after Enron.
Yes you can’t and that’s why I left big 4
And you went to union bank? Downgrade why not leave banking altogether. It’s going digital and FTE is being slashed and burned faster than the rainforest.
Why are you asking it here? Those companies provide very robust compliance rules and even quiz employees. In general limitations are just around the companies that are under audit by that big4 or certain other services, and lower the level - more lenient the rules.
Can’t you invest in index fund or robo investors? This way you’re not doing any manual trading
This is usually the case with hedge banks, but not necessarily with all the big4. Just confirm with them, perhaps only the companies she's consulting with.
Spouses create a single economic unit, so the rules generally apply to both or they would be meaningless. You should really be asking your internal compliance or legal teams for guidance, not random people on Blind.
Do you really think people take big decision based on blind discussions? May be you have not heard of something called 3rd, 4th, 5th opinions. I have often found that atleast 1 or 2 good suggestions do surface with random discussions with strangers and I got that from this post. Either be supportive or gtfo
I gave you two answers, how is that not supportive?
Get divorced!
I hope you are not in a customer facing role or else your resume should be on LinkedIn soon, not you!
There definitely are compliance rules. But how they really look like? You need to ask your spouse to provide the rule book from his/her employer instead of asking Blind
You mean your spouse is in a role responsible for auditing Microsoft?
No, actually my spouse is in cyber security/risk. So no relation to auditing.. the discussion we had was that even if you work in the big4 then you cannot invest as the companies you are investing thru fidelity or robinhood or vanguard etx may be getting audited by their company
Your spouse works for us. We can't do anything else but vanguard. We also audit MS as well so we can't invest in things that MS is involved in