perhaps firms such as this one are not the way to go. just being involved with one of these firms will raise credibility issues. being pinched by one is even more unfortunate.
If you ran a firm that had NO compliance and allowed this type of blowout on the firms dime then you deserve the loss. Yes, you probably hurt the licensees chances of future work but you also probably damaged your firms credibility.
Is it just me, or does "Discharge, failure to follow firm policy." sound pretty benign, and like the firm was trying to be nice? The original poster doesn't mention exactly what happened, but he may very well have done anything from pyramiding a loser to stealing someone's password and using it to exceed risk management limits. Aren't prospective employers entitled to know that? Or have U5 comments historically been a "last resort", like negative credit reporting used to be?