

How much personal information can a corporation require you disclose to them? - CorpOverreach

I work for a large financial firm, my wife works for a big tech&#x2F;finance&#x2F;auditing consulting company. We both have technology positions within our companies.<p>From her end, her company requires that she disclose any companies that her or anyone she lives with or is directly related to does any financial business with. This includes banking, home&#x2F;car insurance, loans, mortgage, etc. Certain companies are on a non-approved list due to &quot;conflicts of interest&quot; and employees aren&#x27;t allowed to have accounts with them. One of her co-workers was apparently forced into refinancing his mortgage with another bank because the bank he had a mortgage through was not on the non-approved list.<p>I can <i>somewhat</i> understand requiring your own employees submit all that information, especially if they&#x27;re involved in auditing sensitive data from said clients.<p>But I find it outright offensive that a company I have absolutely no business or ties with (aside from my wife working for them) is demanding that I disclose information that I find highly personal with them using my wife as a proxy.<p>My wife and I keep our finances separate. While I don&#x27;t have any issues sharing things with her, I do have issues sharing with her employer. I feel it&#x27;s simply none of their business.<p>My own employer recently started rolling out a political donation pre-clearance program. I have zero interest in donating to political campaigns, so it&#x27;s not too big a deal. But according to their fine print, I must pre-clear with them any political donation made by me, my spouce, my parents, siblings, or children. Again, I don&#x27;t see it to be any of my business what any of those parties listed do with their money - how does a corporate even justify imposing that type of requirement?<p>Are companies going too far in requiring that spouses&#x2F;family members share this type of information? Is there any way they can verify if I omitted information in what I disclosed to my wife? Can they legally do that?
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greenyoda
Financial companies are regulated by all sorts of arcane laws. Some of these
personal disclosures may actually be required by law, and the company may be
required to ask for them. So the first thing to do would be to research which
disclosures are mandated by law and which are merely corporate policy. You may
have a chance of fight back against corporate policy, but you won't be able to
fight back against legal requirements.

I don't work for a financial company, but I've encountered some of this
regulation while trading stocks. For example, my brokerage is required to ask
me whether I work for a financial services company. If I did, I'd apparently
be subject to various regulations and scrutiny regarding trades I make in my
personal account.

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gesman
External regulations spiced with internal lawyership.

There are no laws of course that forces you to disclose anything but then of
course corporation may reject your services if you refuse to follow their
rules.

It's more like take it or leave it situation.

