U4 Filed, Later Found Foreign Civil Debt — Advice?
Location: Florida
I recently found out that there is a civil debt enforcement process (similar to a civil judgment) in my birth country. I currently live in the U.S. and just started a job about a month ago that required filing a Form U4 with FINRA.
At the time I completed the U4, I genuinely did not know about this judgment. Now that I’ve become aware of it, I’m unsure what my compliance obligations are.
To add some context: this debt already appeared during the background check my employer ran before hiring me, and despite that, I passed the background check and was cleared to start work. I’m also actively trying to reach an agreement with the debtor back in my birth country to resolve this matter. However, I honestly don’t know whether FINRA even considers civil judgments or debt enforcement processes that occur outside the U.S.
What is the best way to handle this situation? Should I proactively contact my firm’s compliance department to amend my U4? I’m concerned because I just started this role and I don’t want to be fired.
Any insight from people who have dealt with something similar would be greatly appreciated.
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