Was fired today. Mark is going on my U4/ U5 is there anything i can do?

or Register to post new content in the forum

12 RepliesJump to last post



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Sep 2, 2010 12:14 pm


Sep 2, 2010 12:35 pm

Call a securities attorney

Sep 2, 2010 1:59 pm

Or an employment attorney. You were put in a position where it would be easy to make a mistake. Putting an assistant in a position where there is a XL doc on their desktop that could easily be mistaken for the right email attachment - is sloppy compliance.

The firm's compliance department needs to clean up process for everyone. Since you were instructed by someone else and just doing your job, you are a victim of poor internal procedure. ( The fact that the policy needs to change proves this fact.)

Since the U4 will be affected, there damage to you. My impression is that the U4 mark is negotiable or reversible, so it may take time. If you get an attorney who is interested, they could negotiate for you with the firm.

If everything you are saying is true, and you are essentially kicked out of the securities industry because you "pushed the wrong button" on you computer when you were tired and working overtime, this is really wrong and should be elevated. I'd rely on the attorney's advice, but the threat of taking the story public might be some leverage.

I'm no expert, but if this happened in my office I would fight tooth and nail to roll back the clock and clean the record. I'm outraged about your firing.

Years ago I had an employment contract which was terminated early. I called one of the top attorney firms in town, and one of their junior guys ended up reminding the company to fulfill the contract. It was a small deal, I had a new family,and they kept the costs down - basically just writing some letters and few phone calls.

When it was all settled, I got the impression the top management was a little embarassed and annoyed at the middle managers (who were eventually fired for other reasons) incompetence. It was worth challenging them on many levels, but I  never went back.

Sep 9, 2010 2:07 pm


Sep 3, 2010 12:14 am

Have faith, everything happens for a reason, you'll find your way. In the meantime, relax a bit, something good will come out of all this. I've done this for a good long while, what you did is NOTHING in comparison to some of the crazy stuff I've seen or heard about. The firm you worked for, probably sucked anyways.

Sep 3, 2010 2:01 am

Παντρεύτηκα ελληνικά, και αυτό άλλαξε τη ζωή μου προς το καλύτερο. Ο Θεός να είναι μαζί σας.

Sep 3, 2010 9:18 am

tenth, I know those are probably words of comfort, but it's Greek to me. 

Sorry, couldn't resist. 

Sep 3, 2010 9:25 am

Wow, just goes to show how stupid the mangers are in this biz. I'm floored that not only they fired you, but that they queered your U4/5.

Ok, what to do?

Pick yourself up, dust yourself off, and get back on the horse.  You're not the first person to be fired. Ask yourself if you really want to be in this business. if the answer is yes, get the resume updated and start dialing the phone. You live in one of the most over brokered areas of the country. Someone will give you a chance. I am good friends with two FAs who were fired without warning and had their U4/5 queered. Both are still in the business and doing very well. One pressed an employment case against the former employer. The employer settled. Bonehead managers one and all, in these situations.

You didn't lie, cheat, steal. You didn't enter unauthorized trades, and you didn't cause a big time trading error. You made a human error that quite frankly, was only a matter of time. A reasonable person could see how  an overworked tired staffer could make that mistake.

Don't think for a moment that you weren't scapegoated by managers trying to cover their own asses. Still, before you start thinking lawsuit, tone that down a bit. Every company has a client privacy policies and document protection policies. Sending this document, obviously,  violated those policies.  Even though you didn't do it intentionally, they have a defense. That, and you are an at will employee. Basically, if they want you gone, they don't need a reason.

Concentrate all your efforts to getting another job. Do that, and then consult an attorney,(there's a good one connected with this site) to see if you have recourse.

Good Luck!!!!

Sep 3, 2010 1:42 pm


Παντρεύτηκα ελληνικά, και αυτό άλλαξε τη ζωή μου προς το καλύτερο. Ο Θεός να είναι μαζί σας.


I wish I could read Greek

Sep 3, 2010 1:44 pm

I would love to talk to the attorney that is connected to this site can someone please point me in the correct direction.

Sep 3, 2010 1:51 pm

[[email protected]]


Παντρεύτηκα ελληνικά, και αυτό άλλαξε τη ζωή μου προς το καλύτερο. Ο Θεός να είναι μαζί σας.


I wish I could read Greek


He is saying "I married Greek and it changed my life for the better... God be with you"

Sep 3, 2010 1:50 pm

Lawyer on RR = Bill Singer  roog'l him