Conflict of Interest. - Immediate Help Needed

[David G.]

Hello Everyone!

I'm in need of help. I work at a local financial institution and was informed I would need to type up a letter stating what my business will be about and how it works and have it submitted to our HR dept. Today I got word that I will not be allowed to continue with my business while still being employed at my financial institution.

I had asked why and was informed because it is a Conflict of Interest and that I have access to the account of customers. I was informed If I continue with my business I would no longer be employed and if I continue they would consider that my immediate resignation.

I had asked if I can continue with the learning aspect even with just creating my marketing but not promoting it.

They had told me its "all or nothing" meaning I would need to stop anything that has to do with my business completely/real estate or I would be fired.

They informed me they can do an internal audit to review my accounts and if anything show that I am continuing, I would not only be no longer employed but "have further measures taken against me.

I contacted a local investor who informed me that this is not legal. They can not stop me from furthering my education. I would appreciate some assistance with my issue.

I have work tomorrow in 13 hours and have to inform them of my decision before I work.

A.) Work at my financial institution and stop anything that has to do with real estate

B.) Quit and follow my business.

Thank You Everyone any input is appreciated

P.S. I know I need to contact a lawyer but its a little late in the day to contact any of them

[J Scott]

Seems pretty easy to me -- tell them tomorrow that you'll stop.

Then, over the next days/weeks/months, consult an attorney and determine what -- if any -- rights you may have. Once you have all the information, you can make an informed decision about what you want to do and what you want to tell your employer moving forward.

Keep in mind though, even if you find out that you have rights over and above what the company is telling you they'll allow, by asserting those rights, you may piss off your employer -- which could be pretty bad for your career. Ultimately, you may have to decide between real estate and staying with the company that currently employs you.

Btw, I'm certainly no attorney, but if I had to bet, I'd bet they couldn't legally stop you from pursuing an education in any field, including real estate.