Will a dismissed shoplifting charge ruin my future?

I'm going into my Junior year right now with a 3.7 and strong passion for investing. However, three months into being 18 I went to my unis mini market and was buying some food and a protein bar. I bought everything, but had my protein bar on counter that evidently didn't get rung up according to the cameras and log. I get an email 7 months later from the school pd and am charged with shoplifting of $5.60. The only reason they identified me was because I purchased items. I went to the school legal advice on how I could get this off since I was buying my items and she told me that I could get it dismissed...

Well f*** me because I took the pretrial diversion and months later find out what an awful decision that was. According to the FDIC I can't work in any FDIC insured firm for 5 years(think banks). And I of couse got this charge in a state that doesn't allow expungements...However even with the short term ban from banks, I can still go to the buyside I'm pretty sure. How little of a chance do I now have even with eligibility though?

I have been investing in my own portfolio and trading, studying books since I was 17 and am now 20 wondering if I should still pursue this field. It was a misdemeanor for petty theft and all charges are dismissed. ALSO TO NOTE, I was never fingerprinted or had pictures taken. If that matters. I am willing to take any steps to get into PE, Hedgefunds, or anything else I am still legally eligible for. But am afraid that I am now shut out of the financial world.

-----------------------------------Questions----------------------------------------- Will fingerprint background checks still find my record? I can still find it by searching my county records, but wonder if it will show up on their national level check.

When should I disclose this information when applying for internships/jobs?

Can I still get licenses such as Series 7, 63, etc.?

Is it just money handling positions, or does this FDIC rule mean everything like research/analyst positions are off limits?

Would it be possible that I can still do internships as it isn't full time employment?

Thanks guys, really appreciate any responses. This means a lot to me as I can't pay for any legal advice.

9 Comments
 

I am not a legal expert, and this is not legal advice. How can you be banned from FDIC insured firms if your charges were dismissed? Are you sure they were dismissed, as in the court threw them out or the prosecutor decided to not pursue them?

 

Because I took pretrial diversion which is specifically referenced within Section 19. I'd need a waiver from the FDIC insured firm until 5 years have passed. I highly doubt they'd go into all that trouble for an intern or someone starting out.

 

I don't think the FDIC can legally do that based on charges rather than convictions. If they can, thats really messed up.

I don't think these charges are a big deal.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 
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