Past (Small) FINRA Violations on Personal Account - Compliance Problem?

Jer7883's picture
Rank: Chimp | banana points 6

I'm in consulting but am hoping to potentially make the move to IB down the line. My concern is about the personal financial disclosures that one has to make. Earlier in my youth, as an idiot, I incurred a couple (2) minor FINRA violations--"free riding" and "good faith" violations--playing around with my individual investment account. They were very small and unintentional but I'm sure that doesn't matter. (& honestly serves me right for making trades without understanding what I was doing.)

My question is, will these FINRA violations show up in any sort of background check or keep me from getting a job if, down the line, I try to work for a bank or a hedge fund? Will I be unable to meet compliance requirements in the future based on these past mistakes?

Very freaked out...

Comments (3)

Feb 22, 2018

Yes, these violations will show up in a background check. I doubt it will prevent you from being hired but that ultimately depends on each banks compliance policy.

Feb 22, 2018

Thanks Regul8or.

Just to clarify, the violations resulted in my brokerage limiting my account to settled cash trading for 90 days, but didn't result in any direct contact from FINRA, and were under $2500. Does that affect the first part of your answer? (Assuming not but I figured I might ask...)

Feb 22, 2018