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Can a sealed crimminal file be opened for the securities 7 exam?

My friend wants to take the series 7 exam but he has a sealed file from 10 yrs ago. Will this effect his chances from being accepted to take the exam?

It would depend on what the offense was about! Some don't realize...but "sealed" files can be reopened for investigative purposes!

FINRA uses the FBI to search backgrounds. As such, there is a good chance that your friend's file will be reviewed. If the charge(s) dealt with fraud or financial dishonesty, he more than likely will not be allowed to hold a securities license.

"sealed" ??

Depends upon why it was, "sealed" in the first place. Rare... This is usually open to the public, and for good reason. If it were a juvenile offense, then maybe but it would depend upon the crime.

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