A2A Promote - Got a DUI last week
Curious if anyone in the industry has had a DUI while on the job. I think my options are the following:
Option (1) - do not disclose to BB / U4-Finra then quit at year-end after receiving bonus but leave industry.
Option (2) - disclose immediately to BB and to U4-Finra with the hope of keeping job at a bank I have a good repour with to stay in industry (however, risk losing job and year-end bonus I would have otherwise received if I chose option 1)
Is it viable to stay in the industry after a mistake like this?
You can’t afford an Uber or something?
Poster is getting monkey shit because whilst his comment is right it's pointless now post fact. It's simply rubbing it in. He should have made a helpful response eg "was it felony DUI? If not it's ok etc" and then add his current comment as warning to others
Strongly disagree. As someone who had a relative killed by a drunk driver when I was little, people who drive under the influence should 1000% be shamed
Been in your shoes as an SA. Disclose it and they will be much more understanding. Wouldn’t risk not doing so. It doesn’t have anything to do with your job.
Thank you
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i thought you didn’t have to disclose on FINRA u4 except if it’s a felony or securities misdemeanor? unless you got a felony DUI i wouldn’t say anything
Regardless of the ethical issues here, you rightfully do not have to report it on the U4 unless it's a felony (this is not securities related at all).
Does the firm check every year if you’ve committed new crimes? I know they make you fill out that compliance questionnaire annually but I’m not sure if they ask about misdemeanor non-securities related offenses
Can you do any sort of first offender/diversion program? I'd get a good lawyer and go down that path first, it'll be dismissed once you complete it.
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Why would you disclose that lol. Don't do it unless it's felony or securities crime.
I don’t think you need to disclose…I don’t even think they’d wanna know tbh
Sounds like you've done quite enough re-pouring already but agreed, hopefully you have enough rapport to stay at your current bank under option 2
If it is a felony, you have to disclose it. You only disclose misdemeanor's if they are securities-related. I hope this helps, cheers.
I would discuss this with your attorney as soon as possible. Find one who is knowledgeable about these issues.
You already made one stupid fucking decision, try not to let it snowball, at least you didn't kill anyone else.
Talk to your attorney about best steps about this further. No one on here is best seated to provide input given everything.
Talk to your lawyer - you might also check your employment contract as to whether you are required to report regardless of what FINRA status is (which I am not up to speed on frankly, and fortunately as it hasn't applied to me).
non-securities related so relax. and by relax, I mean continue to beat yourself up for being an idiot, but don't fear for your job.
Pretty sure you only have to disclose felony charges or misdemeanors related to securities
Compliance here
I've hired a couple of guys with DUIs but none of them had to be disclosed on their U4s, let alone have it impact their employment. The caveat is that there are different types of drunk driving related offenses, and without any details (or even with details frankly) I don't feel comfortable giving you definitive advice. Not only is it viable to stay in the industry, DUIs are the most common 'criminal' history that I see. But again because since I'm not your compliance guy double check with them so they can laugh at you and give you advice.
What about misdemeanors for speeding? Has that ever been an issue? -- serious, since I have one.
Not an issue at all
Are you technically supposed to inform compliance and your firm ASAP if you are arrested for any criminal offense? I feel like that’s one of the corporate policies I had at my old bank. I think it was a fireable offense if you didn’t disclose anything and they then found out later. That FINRA DOJ fingerprinting background check is a bitch.
Are you technically supposed to inform compliance and your firm ASAP if you are arrested for any criminal offense? I feel like that’s one of the corporate policies I had at my old bank. I think it was a fireable offense if you didn’t disclose anything and they then found out later. That FINRA DOJ fingerprinting background check is a bitch.
This may depend on your firm, but at least at mine we didn't have that blanket requirement to report any arrest. It's funny that you mention that background check, because not a single one of those DUI cases had the employee disclose it to me directly. Instead I found out about them through third party background check companies.
Yeah I’m with some of the others above. Consult with a lawyer. I understand broke ass college students asking questions like this here (I was in that boat once…), but as an A2A you have enough money and there is even more on the line to warrant talking to a professional.
1) You need a good lawyer who can help plea it down. Err on the side of a bigger outlay; it’ll be worth it.
2) For FINRA purposes you only have to report felonies (and fraud-related lesser offenses). So see #1.
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