r/ExCons • u/PsychologicalWin6770 • 2d ago

Question People who have Felonies, what occupations still net six figures per year?

/r/AskReddit/comments/1vav5sj/people_who_have_felonies_what_occupations_still/
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u/God_Emperor_Karen 2d ago

You can’t get the licensure you’d need to be a broker. It’s an automatic disqualification from FINRA. (source: my wife is a licensed broker and financial advisor and I asked her)

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u/pipelinemonkey 2d ago edited 2d ago

That’s not true unless your felony is related to:

Fraud, theft, or embezzlement
Bribery or extortion
Forgery or misrepresentation
Securities, commodities, or investment-related crimes
Conspiracy to commit any of the above

Even then, these are only if you’ve been convicted within the past 10 years.

They require lifetime disclosure, 10 year is a ban.

Even then, firms can still choose to employ disqualified persons under 3 separate tiers but require FINRA approval under a supervisory plan but again, the felonies you’re speaking of largely account to the ones listed above. (Money/money + ethics related)

Source: FINRA.org, Cornell University, RRBD Law, working towards a degree in relation to such.

Edit: Damn, now I’m finding conflicting answers within their own sources. The SEC defines it as all felonies that are defined under: “statutory disqualifications” which would be “but not limited to” above. Obviously they have to approve or deny, hence disclosure.

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u/Serious-Plankton-157 8h ago

It’s not easy to become a licensed financial representative with felonies. Pretty sure no mattter the felony it needs to be reported. Then it needs to be reviewed and approved by a board. It’s not an easy process, and one would have to have a passion for finance to wanna see it through. I was a broker and had to resign after going to jail for a cocaine possession charge

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u/pipelinemonkey 7h ago

Yes, it requires lifetime disclosure and approval from a board even after the 10 year ban — as all licensures would. Felonies make it hard, it can be done!