Series 52: 8.2.4. Statutory Disqualification

8.2.4.  Statutory Disqualification

Certain events make a firm or individual unable to engage in securities business, without the need for further action to specifically revoke their ability to do so. This is called statutory disqualification.

Statutory disqualification can result for dealers and associated persons who:

• • Have been expelled or suspended from membership in any self-regulatory organization, domestic or foreign, or denied trading privileges anywhere
• • Have been barred or suspended from associating with a member of any self-regulatory organization
• • Have 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
• • Have associated with any person known to have been expelled or suspended or to have caused the same of another broker or dealer
• • Have been subject to temporary and permanent injunctions (regardless of age) involving a broad range of unlawful investment activities issued by a court of competent jurisdiction
• • Have misdemeanor convictions having to do with securities transactions or the