Form U4 and Form U5 Disclosure Requirements

What this video covers

• What Form U4 (Uniform Application for Securities Industry Registration or Transfer) is, who files it, and how it feeds into the Central Registration Depository (CRD)
• The 10-year employment history and 5-year residential history requirements, including the 3-month maximum gap rule
• Why a written customer complaint alleging $5,000 or more in claimed damages triggers U4 disclosure completely regardless of merit, withdrawal, or dismissal
• The critical distinction between the $5,000 U4 complaint threshold (claimed damages) versus the $15,000 rep and $25,000 firm settlement-or-award thresholds under firm event reporting (actual payment)
• When a Form U4 amendment is due: 30 calendar days after the firm or rep learns of the reportable fact
• What Form U5 is, why it is filed exclusively by the firm, and why a for-cause termination on the U5 is personally consequential for the rep
• The rep's personal liability for false or misleading U4 disclosures, including the risk of statutory disqualification
• What BrokerCheck is, which U4 and U5 disclosures become public versus which remain internal, and the long-term reputational stakes for reps