I've spoke to someone with PHLX exchange and she told me one felony arrest will inhibit you from obtaining a Series 7, for life. This came as a surprise. I would suspect a felony conviction possibly stopping you maybe for a period of time. Is this problem restriced to PHLX or is this something every exchange advocates? I was approved by the NASD, but now I think that they have no part in criminal background checks. Is the NYSE more easy than the PHLX? Some kind of waiting period?