Series 7: 18.3.4. Statutory Disqualification

18.3.4. Statutory Disqualification

The Exchange Act requires FINRA to disqualify a person or member firm from participating in the securities industry if that person or firm:

• • Has been expelled or suspended from membership in any self-regulatory organization, domestic or foreign, or denied trading privileges anywhere
• • Has been barred or suspended from associating with a member of any self-regulatory organization
• • Has been found by their conduct while associated with a broker-dealer to be a cause of any effective suspension or expulsion of another broker or dealer
• • Has associated with any person known to have been expelled or suspended or to have caused the same of another broker or dealer
• • Has been subject to temporary and permanent injunctions (regardless of their age) issued by a court of competent jurisdiction involving a broad range of unlawful investment activities
• • Has felony criminal convictions within the past 10 years (from