Served a U-5, what does this mean?

Discussion in 'Professional Trading' started by Simmy, Oct 2, 2008.

  1. Simmy


    I am trying to have my series 7 license passed over to another employer and I received a U-5 notice from the place where my license is currently housed. Does this mean I will not be able to transfer the license now? Because it says termination on it. I'm confused, someone please help. Thanks.
  2. Simmy


    Also, I'm supposed to take the Series 63 on Monday, how am I supposed to get licensed for that if they have already filed a U-5???
  3. U-5 means you have been terminated from the company. Your 7 is still valid and will still be transfered over. However, you can't take the 63 without firm sponsorship. Maybe they sponsored you before termination, so you can still take it? I am not sure about this. Call them and make sure
  4. Simmy


    my test date is still open so i guess it should be ok, but obviously yes i will call them tomorrow. thanks very much for the reply.

  5. qazmax


    U4 registers you with a firm

    U5 unregisters you with a firm

    good luck on your test.