Definition - What does Statutory Disqualification mean?
Statutory Disqualification subjects an individual who has been barred or suspended or convicted of a securities related crime to disqualification from registering as a licensed securities professional.
Testopedia explains Statutory Disqualification
Certain regulatory or criminal sanctions will subject a person to statutory disqualification. Some of these actions could be brought by industry regulators such as FINRA or the SEC. Others may result from criminal convictions from a court of law.