Advisor Wants Back In Industry After DUI
Under SEC rules, this planner was statutorily disqualified after driving under the influence. Can he ever register with a brokerage again?
This planner was disqualified for driving under the influence. Can he ever register with a brokerage again?
Q: A few years ago I got a felony DUI which made me “statutorily disqualified” [under Section 3(a)(39) of the Securities Exchange Act of 1934]. I’ve totally complied with all aspects of my probation, which is due to expire in a couple months. What are the chances that I could get registered with a brokerage firm? A: FINRA may deny a firm’s application for association with a statutorily-disqualified individual if it determines that individual’s employment wouldn’t be consistent with public interest and the protection of investors. By the same token, FINRA bylaws (Article III, Section 3(d)) say that FINRA “may approve association of statutorily