Seven years ago, Sarah Smith was convicted of possession of a controlled substance in a state where that violation is considered a felony. Sarah has just filed an application for registration as an agent with Kapco Securities, a registered broker-dealer in a state where that violation is only considered a misdemeanor. When viewing this agent's application, the Administrator will:

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Izabella Johnston

13 April, 22:38

Seven years ago, Sarah Smith was convicted of possession of a controlled substance in a state where that violation is considered a felony. Sarah has just filed an application for registration as an agent with Kapco Securities, a registered broker-dealer in a state where that violation is only considered a misdemeanor. When viewing this agent's application, the Administrator will:

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Francesca Mercer · Answer 1

Would be subject to statutory disqualification.

Explanation:

Even though the crime is a misdemeanor, based on state where the registration is, the applicant's record will show a felony conviction and, therefore, this individual would be subject to statutory disqualification.