bankruptcy - is it a sacakable offence if working withina middle office position inn a investment bank?

[Jas39]

Please can you urgently advise if i would be sacked or forced to leave my middle office position (syndication supportrole) with in an american investment bank based in London if i have to delare myself bankrupt? I am not sfa registered and do not deal directly with cash accounts or provide financial advice to external bank clients.This is sending me mad with worry so any help you can provide would be most gratefully received. Many thanks

[flipflop104]

Someone I know who went bankrupt worked for a bank and it wasn't in their T&Cs that they had to declare their bankruptcy so they didn't - never got found out or became an issue. Check your T&Cs and if you don't have to declare it, don't. The only way they could find out is if HR alert them that your tax code has changed (which it will once you become bankrupt)

[annie0000]

It really depends on your company and your role. Does your position require you to be registered with the FSA? If so, you wll not be allowed to remain registered as a bankrupt. They require all registered indivisuals to be financially responsible. Also, your employer may not be symapthetic to your cause if you have any access to customer funds - your bankcruptcy would make you high risk (on paper) of fraudulent behaviour. Do you really have no other options to get yourself out of this position. Can you not make arrangements with your creditors? I would imagine that being a bankcrupt would leave you in a difficult position if you wanted to continue to work in financial services

[PrinceRainie]

Dont declare yourself bankrupt unless you have exhausted absolutely every other alternative.
As Annie said, if you were registered either through your company or directly with the FSA, then you will not satisfy their "fitness and proper" status, and will lose it.
Your employer may be sympathetic to your cause.
Either check your employment contract or simply speak to HR.
But bear in mind...if they are sympathetic to your cause now...it doesnt mean that they will be in the future should they change their policy surrounding bankrupts....and the fact that it can hang around your neck for a number of years may prohibit you ever working for a bank in the uk.
Think long and hard before you commit