Bankruptcy and NASD

[whywhywhy]

Just wondering if anyone out there is registered with the NASD (Now FINRA), has filed bk, and what your employer's reaction has been when you updated your U4. (Background for other folks: a U4 is form that a registered (Series 6, Series 7, etc) individual is required to keep current with all kinds of fun information. One section is personal finance, and you are required to disclose the bankruptcy. In order to update the U4, you have to tell your employer)

The more I think about it, the more I fear this. I know they can't legally fire me for it, but, sometimes managers can get creative. Just wondering what the experience has been for folks.

[lmeghanx]

Just wondering if anyone out there is registered with the NASD (Now FINRA), has filed bk, and what your employer's reaction has been when you updated your U4. (Background for other folks: a U4 is form that a registered (Series 6, Series 7, etc) individual is required to keep current with all kinds of fun information. One section is personal finance, and you are required to disclose the bankruptcy. In order to update the U4, you have to tell your employer)

The more I think about it, the more I fear this. I know they can't legally fire me for it, but, sometimes managers can get creative. Just wondering what the experience has been for folks.

I work at the Legal & Compliance dept for a broker-dealer and I see reps with bankruptcy disclosures all the time. Don't worry; it's not a big issue.

[whywhywhy]

Thank you so much for the reply, helps a lot!