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Dirty U-5

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Jul 25, 2009 10:59 pm

I just had a job offer rescinded from me based on information contained in my U5.  The last employer that had it - a major bank - bought the bank I worked for.  I was there less than 45 days and sold no investments while working for the institution but somehow my U5 “100%” disqualified me according to my contact at my ex-new job.

1.  Is there anyway other calling FINRA that I can get a copy of my U5 immediately to take action before Monday and be stuck behind the 8 ball now that I am unemployed?

2.  Since I was not at the firm that purchased my bank for more than 45 days and sold no investments during that time if there is a gross misstatement showing malice and defamation can I sue for damages?

Thanks for reading my post.


Jul 26, 2009 1:47 am

Thanks Bio - It’s not on Broker Check because it’s been 2+ years since my license was last used so the only way to access it is to get my U5 on WEB CRD.  Do you have access to WEB CRD?  I am pretty sure I can call FINRA on Monday but the clock is ticking fast now that I lost my other Job Thursday and was rescinded on Friday.  This U5 thing is an awful way for people to get back at one another._popupControl();

Jul 26, 2009 1:12 pm

7/7        Received my verbal offer and an email with my offer
7/8        Emailed the recruiter - asked what I could do to facilitate the onboarding
                  7/8        Recruiter replies to me and copies HR on email saying HR will call me to complete 
7/13      I gave my notice to resign for my current job _popupControl();

Jul 26, 2009 1:21 pm

They refused - unequivocally stating that they would “NOT” hold my license at all and stated that they could not tell me why because they did not know.  They divulged that their “compliance” officer refused to accept me.  That sounds to me like a Statutory Disqual and the only thing it could be is a defamatory statement on the U5._popupControl();