Working with a record?

Discussion in 'Professional Trading' started by xtoronto, Aug 7, 2007.

  1. xtoronto


    A friend of mine wants to get into the financial services industry, but he has a dui charge. Will most banks hold this against him?
  2. If he was convicted he would be subject to a statutory disqualification from becoming a registered representative. To become registered the sponsoring firm would be required to submit an application requesting adjucation and a hearing would be held on the matter.

    If he wasn't convicted, he doesn't have much to worry about, especially if he's not looking to get registered.
  3. I'm not sure you know what you're talking about.
  4. Complete BS.
  5. Dude 'not' having a DUI would disqualify you from this business! I was actually told that by my Manager at Merrill Lynch!

    In all honesty, you disclose it on your U4, its a misdemeanor. No problem.

    Felony convictions are much more problematic. If they involve perjury, misappropriation of funds it is game over.

    Lying on a U4 is much more serious than having to disclose a misdemeanor.
  6. cstfx


  7. nkhoi

    nkhoi Moderator

    When is a DUI a felony?

    A felony is a crime punishable by imprisonment in the state prison. The length of punishment is determined by a low, mid, and high term. A DUI can be a misdemeanor or a felony depending on a number of factors. DUI convictions and punishments are guided by the California law.

    Some DUI felonies are also termed "wobblers." Wobblers are punishable either by confinement in county jail or state prison. Wobblers differ from straight felonies in the punishment imputed and in the post-conviction relief available. If a wobbler is punished by incarceration in county jail and probation is imposed upon release, then the defendant may petition the court to reduce the felony to a misdemeanor. If granted, the conviction will be considered a misdemeanor, but is still a felony under the Three Strikes Law.

    If the driver of a vehicle drives while under the influence of alcohol and/or drugs and commits a forbidden act or neglects a duty imposed by law in driving the vehicle which was the proximate cause of the traffic collision and injures someone other than himself, then the DUI is a felony. However, the driver must be "at fault" for the traffic collision. If the driver is under the influence of alcohol and/or drugs, and is not at fault for the traffic collision, then the driver shall be charged with a misdemeanor.

    Punishment includes either a term of incarceration in the county jail or state prison, fines, suspension of driving privileges, and attendance in an alcohol education course.

    If the driver of a commercial vehicle has a BAC of .04 percent or more, and proximately causes injury through an illegal act or neglects any duty imposed by law, then the driver shall be charged with a felony. A commercial vehicle is any vehicle which requires a class A or B license or a C license with an endorsement to drive a "tank" vehicle.

    The fourth time within a span of 10 years that a driver is convicted for a DUI results in felony.

    VC 23550 and 23550.5 are wobblers. A person convicted of VC 23550 or 23550.5 shall be punished by imprisonment (or county jail for 235505.5), fined, have driving privileges revoked, and be labeled a habitual traffic offender for three years.

    If a driver has been convicted of a felony DUI, and is subsequently convicted of another DUI within a ten year period, then the subsequent DUI will be punished as a felony.
  8. You talking about LiLo? :D