DWI : Need to report on U-4?

Discussion in 'Prop Firms' started by John Smith, May 4, 2005.

  1. Does anyone know if a DWI needs to be reported to the NASD on your U-4 application? (first offense, class B misdemeanor)
  2. No, it doesn't. 100% sure.
  3. heavy


    I was told that, if you've ever been arrested (or, fingerprinted), it needs to be reported. Even if the case was thrown out. I think when the NASD does a fingerprint check, every time you've ever been printed comes up. And, they want an explanation.
  4. Don't report it. If it comes up, they may ask you to amend your filing that's all. I think the employer would have more of an issue than the NASD. Shows poor judgement
  5. if charges were expunged, you do not have to report it necause, if they were expunged, it never happened.
  6. depends on the state where the offense was committed. i think in florida it is considered a felony...otherwise it would not need to be reported.
  7. heavy


    "if they were expunged, it never happened"

    In theory, yes. In reality... not always. I saw an instance where a trader filing a U4 had to reply to the NASD that the arrest was expunged. He figured it wouldn't appear as a "disclosure" in CRD, but it did. And, the NASD had no problem with it, but because he was actually fingerprinted, it appeared.
    They don't "expunge" fingerprint reports, regardless of what the cops may tell you- they're always in the database.
    Or, so I've been told.
  8. so basically, should i report it or not? i plead guilty so the expunging doesn't apply to me.
  9. cashonly

    cashonly Bright Trading, LLC

    Knowing traders, I think that if a U-4 was turned in that DIDN'T have a DUI on it, it would raise eyebrows! :eek: :D
  10. Cash that is a ridiculous statement.

    Do not report it.
    #10     May 6, 2005