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    Will a Connecticut Arrest Affect My FINRA Application?

    Will a Connecticut Arrest Affect My FINRA Application?
    • If you’re in the securities business, you may have a Series 6, 7 or 63 FINRA license.
    • Certain arrests can lead to the revocation of a FINRA license.
    • You need a top CT criminal lawyer to help you fill out your Form U4.
    • Questions 14A and 14B on the FINRA U4 are the key questions.
    • If you’re convicted of certain crimes, you can be barred from holding a FINRA license for a ten-year period.

    • If you’re arrested in Connecticut, be sure to reach out to an experienced Connecticut criminal defense lawyer right away.

    Will A Connecticut Arrest Disqualify me from FINRA?

    Not always. It depends on the arrest.  If you have a Series 6, Series 7, Series 3, or any other type of securities license through FINRA, you are probably familiar with Form U4, the Uniform Application for Securities Industry Registration.  On FINRA’s Form U4, you are required to disclose certain charges, not just convictions like many other background checks.

    Will a Felony Disqualify me from a Securities License?

     In all likelihood, yes.  Question 14A on Form U4 asks if you have ever been convicted of any felony.  But, it also asks if you’ve ever been charged with a felony.  Here, there is no limitation on the type of felony.  So, even if the arrest is completely unrelated to securities or finance, and even if you’re never found guilty, it could still disqualify you from a FINRA license.  Any of the best Connecticut criminal attorneys can advise you on how to speak with your employer and make sure you’re not dishonest with FINRA while working to get rid of your charges as soon as possible.

    Will a Misdemeanor Disqualify me from a Securities License?

    Sometimes.  Question 14B on Form U4 asks if you’ve ever been convicted of or charged with a misdemeanor, but only misdemeanors involving investments, fraud, false statements, larceny, bribery, and other money or dishonesty-related crimes.  So, for example, if you’re arrested for any type of fraud charges in Connecticut, the answer would likely be yes, but for something completely unrelated – like a DUI or disorderly conduct – you may not have to disclose it.  Either way, you should always consult with a top criminal attorney to be sure you’re answering correctly and honestly to avoid even bigger issues.

    What is FINRA’s Statutory Disqualification?

    FINRA has multiple categories of Statutory Disqualification, meaning that you’re automatically disqualified from FINRA membership, including convictions for any felony and those certain misdemeanors.   Statutory disqualification for these types of convictions lasts for a period of ten years.  You may be able to submit an application to keep your license with certain conditions.

    How Can a Lawyer Help if I’m Arrested in Connecticut and have a FINRA License?

    If you hold any securities license and are arrested in Connecticut, contact a criminal defense lawyer.  You want someone experienced who can scrutinize your case from the very beginning, look to see if the charges have any evidentiary support, or if you’re overcharged, and work to get rid of your case as soon as possible.  Your attorney can then help you to comply with your disclosure requirements and work to try to avoid any negative impact on your license.

    Call an Experienced Connecticut Criminal FINRA Lawyer Today

     Anyone arrested for a crime in Connecticut should consult with a top criminal attorney before ever setting foot in court.  But if you have a securities license, it’s even more important.  At Mark Sherman Law, we have a team of attorneys who regularly handle criminal cases for clients with FINRA or other licenses.  You can see hundreds of certified reviews from past clients at  Then get in touch at (203) 358-4700