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I am a partner at a CPA firm we have a client we would like to invest in (less than 10%), The firm has intimate

I am a partner at a CPA firm we have a client we would like to invest in (less than 10%), The firm has intimate knowledge of the clients strategies and new products coming to market. I'm considering forming a new LLC, funded by the Firm, but owned by the Partners Spouses and having this new LLC invest in the securities.

What impacts can opening this new LLC leave us liable for? Insider trading? Tipping?

Is this a bad idea? Why or why not?

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