Is this legal? employment, agreement, attention, knowledge, acquired

Zesty

Is it legal to terminate an employee due to the fact that they haven't acquired their CFA designation after 5 years of employment? Employment agreement is "at will." At the time of hiring there was no discussion or disclosure of this supposed policy, which was not instituted or brought to there attention until this year. Nice to be at there mercy of the CFAIs inability to test it's candidates knowledge of curriculum, but instead tests the knowledge of they're ability to decipher what the h@ll half of the vague, ambiguous questions are even asking.

bpdulog

i don't think it is illegal, but I can't imagine a company doing that to someone.

mik82

my teammate at work just failed series 7 second time last week and now getting scared that she may be let go. I doubt that passing an exam has any correlation with keeping a job. Performance counts first.

Windjam

jayjay77 Wrote:
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> "At will" means you can be terminated at any time.
> They do not need a reason to terminate you, so
> yes it is legal


+1

nannan66

Definitely legal. They can fire you because they don't like the color of your socks.

jmh530

Figured as much, but has anyone heard of similar instances? Not told at time of hire is what gets me. And 5yrs means you can only fail one test one time. And job performance was above average otherwise from what I understand.



Edited 1 time(s). Last edit at Tuesday, June 8, 2010 at 10:16AM by ox10.

justin88

ox10 Wrote:
-------------------------------------------------------
> Figured as much, but has anyone heard of similar
> instances? Not told at time of hire is what gets
> me. And 5yrs means you can only fail one test one
> time. And job performance was above average
> otherwise from what I understand.

Only argument you would have is if they treated another employee differently and you could attribute your being fired to something illegal (race, religion, etc.).

PalacioHill

you can fire someone on the basis of performance. failing series 7 a second time is reasonable grounds to be fearful of your job.

Darien

s7 is a different story. kinda license thing. u need to have it. it is similar to can i drive while i don't have drivers license.
cfa is all voluntary. technically they cannot fire you because u failed to get it in 5 years. but i guess in real world, they will find some other reasons to let-go.
of course you can always find a lawyer and sue the employer. i think u can always get something out of it.

Chuckrox

completely agree w/Boris. Series is SEC requirement for trading on desk ... if you don't have it, you can't even answer the phone on desk - why does desk need you in that case?