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Feb 13, 2010 3:17 pm

Here is my situation and hopefully someone can provide some guidance.  I was working for a mutual fund firm in 2007 and was terminated for violation of travel/expense policy.  Basically, someone took one of my receipts, photocopied it and submitted it as their own.  When I found out I did not turn them it but had them remove it from their report instead.  Ultimately, I was terminated for not turning them in.  So on my U-5 from that form all the questions that they ask under the termination section where answered “NO” but they did provide the cause for termination - what I stated above.  I was able to get a new job with another fund family - they did a background check and had no issues with anything.  My U-4 form on Finra.org is clean and does not show a termination on there. 

  My question is this, will this termination haunt me for life?  Will other firms that I try to get jobs with be able to see that I was fired even though there is nothing on my U-4?  I am happy with they job I have but I feel as though I may be trapped and not able to get another job with another financial servies firm.   
Feb 13, 2010 8:04 pm

No, this shouldn’t haunt you for the rest of your life.

Feb 13, 2010 10:47 pm

thanks for the great information

Feb 14, 2010 6:10 am

[quote=bc02eagle]Here is my situation and hopefully someone can provide some guidance.  I was working for a mutual fund firm in 2007 and was terminated for violation of travel/expense policy.  Basically, someone took one of my receipts, photocopied it and submitted it as their own.  When I found out I did not turn them it but had them remove it from their report instead.  Ultimately, I was terminated for not turning them in.  So on my U-5 from that form all the questions that they ask under the termination section where answered “NO” but they did provide the cause for termination - what I stated above.  I was able to get a new job with another fund family - they did a background check and had no issues with anything.  My U-4 form on Finra.org is clean and does not show a termination on there. 

  My question is this, will this termination haunt me for life?  Will other firms that I try to get jobs with be able to see that I was fired even though there is nothing on my U-4?  I am happy with they job I have but I feel as though I may be trapped and not able to get another job with another financial servies firm.   [/quote]

There is always Primerica and Waddell and Reed. In fact, I think it is a necessary qualification to have something on your U-4 to work at W&R.
Feb 14, 2010 10:36 am

[quote=bc02eagle]Here is my situation and hopefully someone can provide some guidance.  I was working for a mutual fund firm in 2007 and was terminated for violation of travel/expense policy.  Basically, someone took one of my receipts, photocopied it and submitted it as their own.  When I found out I did not turn them it but had them remove it from their report instead.  Ultimately, I was terminated for not turning them in.  So on my U-5 from that form all the questions that they ask under the termination section where answered “NO” but they did provide the cause for termination - what I stated above.  I was able to get a new job with another fund family - they did a background check and had no issues with anything.  My U-4 form on Finra.org is clean and does not show a termination on there. 

  My question is this, will this termination haunt me for life?  Will other firms that I try to get jobs with be able to see that I was fired even though there is nothing on my U-4?  I am happy with they job I have but I feel as though I may be trapped and not able to get another job with another financial servies firm.   [/quote]   You are fine. Just be honest with the situation and if some blow hard hiring manager has a problem with it you probably don't want to work for them anyways.