Legal Question in Bankruptcy in Texas

Stock Broker

I am considering bankruptcy, but I am a series 7 licensed stock broker or registered representative as it is often called. I know that if I do i have to tell my compliance department, but I am not sure why I have to. What is the reason behind that? Is there anything special that I need to know? What rules or laws do I need to be aware of?


Asked on 8/28/01, 10:20 pm

1 Answer from Attorneys
Lawrence Maun Lawrence J. Maun, P.C.

Re: Stock Broker

I have represented brokers in Chap 7. While you must make the disclosure it should have no effect on you ability to retain your license. You employer, however, may see this as a negative. However, if you have good production employers tend to forget and forgive the filing. Of course if there are issues of fraud your license would be in jeopordy. Larry Maun 713-266-2560

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Answered on 9/17/01, 4:08 pm


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