X was convicted of a recent, serious criminal offense. Moreover, he is a repeat offender
, having had three DUI convictions between May 2000 and August 2002, all by the age of 23.
In addition to the third DUI conviction being a felony, he was convicted of aggravated, unlicensed operation of a motor vehicle. This pattern demonstrates that X may be unable to conform his behavior
to applicable laws and regulations.
Impressed with the
- evidence that X presented at the hearing that he has been involved with Alcoholics Anonymous since early 2002, following his last DUI arrest, and has completed intensive inpatient and outpatient programs.
- testimony given by the individuals from the Court Intervention Project about X's so far successful rehabilitation and therapy.
However, X has only treated his chronic alcohol problem for less than two years. Insufficient time has passed for him to demonstrate that the change in his behavior pattern is fundamental and long lasting and that he can conduct himself in a responsible and compliant fashion in the securities industry. This is particularly true given that X's proposed business activities, the sale of individual stocks to active traders, will involve higher professional risks than selling other product offerings to different investors.
Lack of disciplinary history for the Firm and the Proposed Supervisor are noted, but these facts do not outweigh the seriousness and recency of X's offense, his history of customer complaints, the relatively short period of his sobriety and the certain pressure that will inhere in pursing the same business activities as those he pursued before the felony conviction.
Not in the public interest and that it creates an unreasonable risk of harm to the market or investors, to permit X to continue his employment in the securities industry.