Tarnished U4

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Aug 18, 2008 9:52 pm

A couple of years back, I was named in an arbitration and lost.  I am now looking to switch firms, possibly go indy through a large BD.

The recruiter asked me if the arbitration award exceeded 10K and I told him it did.  Why the 10K amount?  Also, will this ding to my U4 prevent me from further employment in the industry?

Aug 18, 2008 10:53 pm

God no... maybe at some firms but if you look at the recent stories on RR about two reps, Park and Grossman, both had U4s longer than War and Peace. Grossman (a rep in FL) had a 98 page U4 including almost 30 arbitrations, a BK, a termination, and I believe a criminal conviction! Park had two terminations, several arbitrations, and a criminal shoplifting conviction. I know several reps that have something minor on their record which doesn't seem to be an issue at many places.

Aug 18, 2008 11:16 pm

Well, I'm not sure how minor mine is... a 100K award for unsuitable recommendation.

Aug 19, 2008 9:10 pm

So do you think a firm like RJ or LPL would still consider me?

Aug 27, 2008 1:08 pm

You have done a good question, it’s really interesting. If you get any good reply, so please let me know. So I’ll also get some good idea.


Thanks for your future help.