FINRA Background Checks With Expunged Criminal Record

[tampabackground]

My question involves labor and employment law for the state of: FL
Am I able to apply directly to FINRA for review of my background? I had advanced in the interview/selection process with an insurance and investment firm.
I provided my background. I had a felony arrest for uttering a forged instrument back in 1994. Long story short, charges were dropped by the victim, however, the DA had the evidence and elected to proceed with criminal charges. I was given 3 years informal probation. Full restitution was made within 10 days of the arrest, and the judge allowed my record to be expunged and this was granted in 1999.
The prospective employer decided to take a pass on me. I am wondering if I can persue FINRA to review and determine if I am ineligble and if I am ineligible are there any remedies available to me so that I can overcome the past mistake.

[Beth3]

Pursue FINRA? I'm not sure what you mean.

You can certainly contact them to determine whether your conviction automatically bars you from employment in the securities field under NASD, SEC or related rules. Even if they don't, that doesn't mean an employer in this industry has to disregard your conviction and hire you.

You may want to consult an attorney to see if it's possible to have your conviction expunged and whether that would make any difference as to your eligibilty for employment in this field. You may be barred from some positions in the industry but not others.

[tampabackground]

My record was expunged. I understand no employer has to hire me even if I get approval from the SEC or FINRA. I am just wondering how I would go about that. My best effort will be to document that FINRA or the SEC would not disapprove of my hiring then contact employers and allow them to make their own determination. I am only hoping that by seeking out the answers early on an employer would then evaluate me on the whole versus just looking at the expunged record and not wanting to take a risk on me. They have to go through some expense for background etc. and they don't want to spend money on a candidate that not be able to join FINRA and become licensed.

I can't take my Series tests without sponsorship from a firm so I am looking for that one break.

I appreciate your help and suggestions.

www.finra.org/


FINRA is the largest independent securities regulator in the U.S. Our chief role is to protect investors by maintaining the fairness of the U.S. capital markets.

[Beth3]

I am just wondering how I would go about that. Sorry - I've never worked in that industry so I can't advise you.

All I can suggest is you go search around FINRA's website and see if there is contact information for someone who can advise you.

You are correct in stating that even if you have document from FINRA or the SEC stating your conviction doesn't exclude you from employment in the field, that doesn't require an employer to overlook your conviction. It's not just a matter of statutory requirements, it's also the employer's assessment of your honesty and ethics. As you are well aware, this is a highly regulated field (ever-increasingly so) and it's possible you won't find an employer willing to take a chance on you, given what you were convicted for. You may have to consider a different career.

Good luck to you.

[ESteele]

OP, I have read your posts. I think I understand what you have communicated. Accordingly, please do not take offense at the following query: Are you certain your criminal record was expunged?

Many individuals – including many posters at this site and others – have incorrectly believed since the criminal charges were disposed of pursuant to a “probation before judgment” disposition or similar diversion program that their records were automatically expunged. In many states, completion of a diversion program does not automatically expunge the record. The affected party or his counsel has to file a separate, successful expungement motion. Such a motion will result in an expungement order (which, in turn, should direct court, police and motor vehicle personnel to eliminate any reference to this criminal matter from the official records). Do you have such a separate expungement order?

Unfortunately, even if you do have an expungement order, it is relatively easy now for diligent employers and/or data collection firms to discover information about expunged convictions or arrests. While state law may require an employer not to consider an expunged record in making an adverse employment decision, it is exceptionally difficult to find out whether a prospective company declined to hire you due to an expunged conviction.

[misdemeanorexpunged]

I was reading these posts and I would like to say that if your criminal record has been expunged, it too will be expunged from FINRA. You just have to request your document certificate from the state and submit it to FINRA. FINRA will then clear your U4 of the criminal offense. Once you have expunged your state record and your U4, you will not need to disclose that record again on any application, unless it is to become an attorney or trying to get hired by the FBI or CIA. In regards to your state record, I would suggest going to your local county courthouse and inquire with the clerk of courts to see if it in fact has been expunged. If not, the process to expunge should only be about 6-8 weeks to get the expungement completed. If you have any questions, you can always comment to me and I will try to answer more of your questions.

[prosen]

I was recently hired by a B/D after a thourough backround check. I just succussfully passed my Series 7 last week. When my firm went to register me, FINRA came back asking questions about my record. About 10 years ago i was arrested and charged with 3 offenses (non securities related) I did a Pre tiral Intervention and then the charges were dismissed 1 year later. I hired an attorney and had the charges expunged. It cleary says on the expungment order that the arrest was deemed " not to have happened" and that I can answer no to any questions about said arrest. I am not sure how to proceed with this. i was looking for any advice. Does FINRA have the right to reopen this and look at everything. Wouold they be satisfied with a document stated the expungemtn? is it a case by case basis? any help would be greatly appreciated. this has got me very nervous. Thanks.

[Mr. Knowitall]

You have your own thread, and don't need to hijack somebody else's.