Hate to break this news, but they will known you were arrested once they fingerprint you. FINRA Launches Enhanced Process for Financial Background Checks of Brokers. It wasn't for any criminal reasons, but basically, due to a multitude of factors, they needed to downsize and I got the ax because they thought I wasn't a good fit for the job. I know if I disclose anything I probably wouldn't get hired because I was convicted of a felony that related to theft. When in doubt, consult with a professional research firm to thoroughly review your investigative options to ensure that you are in full compliance with FINRA background check requirements. Expungement removes all criminal records from Police, Court and NCIC databases. While the public record search responsibility entails performing, at minimum, a national review, FINRA encourages firms to perform more in-depth research on applicants based on job function, responsibilities, and position to be held at the firm. And then another one where your company submits your finger prints to FINRA. The charges were actually never filed and never went past the DA's office. I think your fine though because you can file a petition for FINRA not to report expunged criminal information to your employer. It just slows down the paperwork process, but as long as it's not money/securities related nobody cares. This new measure applies to all initial and transfer Form U4 filings, as well as individuals who have not been registered with a FINRA member firm for more than two years. Even if it was a licensed job, the firm would've completed your U5 showing you didn't leave on bad terms with a termination. I have a felony conviction but it was set aside by the Judge(the conviction was stricken and I was placed on probation, upon completion of probation this does not count as a conviction under state law or result in any civil disabilities). Member firms must conduct background verifications for new hires and transfers from other firms. How do I keep FINRA from disclosing anything to my firm? NASD Rule 3010(e) NASD Rule 3010(e) had previously imposed a responsibility and duty on members to ascertain by investigation the good character, business reputation, qualifications and experience of any person prior to making such a certification in the application of such person for registration with FINRA Press question mark to learn the rest of the keyboard shortcuts. Press J to jump to the feed. 1. The securities regulators Chairman and Chief Executive Officer, Richard Ketchum, stated that the new FINRA background check requirements would help improve the accuracy and totality of details reported on an individuals Form U4 to ensure that investors obtain relevant and important information on individuals entrusted with investing their money. From what I have researched online the finger prints are only for identification purposes the actual criminal check is through the NCIC after they confirm you identity. It wasn't anything criminal or a violation of firm policy, it just wasn't the right job for me. With its background check rule, FINRA hopes to streamline the screening process of securities professionals for registration and obtain more relevant and accurate information to combat fraud and educate investors. For the verification of Form U4 data obligation, firms arerequired to conduct a search of reasonably available public records to verify the accuracy of information provided by an applicant. Will an expunged record show up on the FINRA NCIC check? Question About FINRA Background Check Hi Everyone, I'm starting work at a boutique IB as an M&A analyst next month, which I believe requires me to become a limited representative, fill out a U4 form, and be subject to a FINRA background check. 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