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You are subject to independence restrictions if you are an employee based on what you do and what companies you do it for, but the broader restrictions start at manager and apply to everything in your personal life as well as a spouse or live in SO, including things like where you have a mortgage, checking/savings, credit cards, etc.

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Thanks all. for context, I am in KPMG consulting and staff-level (SA and below) don’t necessarily have to report their investments just yet. At manager level and beyond, you have to report it all and if anything is on our restricted entity list, we need to sell immediately. Was just curious if it was the same level at PwC, I know you all have the SM role as well.

Associate, if warranted. Some restricted entities apply only to certain levels, locations, or lines of service. You’d need to run all securities through our independence checkpoint and it would tell you if it’s permitted or not.

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