No, you can own stock even if you work for the company, you're just restricted in when you can trade it. (It has to be within a certain period after the company's quarterly report.)
You can certainly own, purchase, trade, and otherwise deal with stock in companies you yourself work for or that your relatives do, the government just has restrictions in place on your activities so that you can't take advantage of privileged information that the public would not have access to.
KagomJack said:
My girth isn't anything to bitch and moan about in long, elaborate paragraphs.