Seven years ago, Ivan was found guilty of embezzling securities from clients. He now wishes to join another brokerage firm. Which of the following statements is TRUE regarding this situation?
A) He cannot be employed because he is still subject to statutory disqualification provisions.
B) He may be employed in a sales position, provided the firm agrees to be liable for any losses due to his misconduct.
C) He may be employed by a brokerage firm, provided he is not involved directly in any dealings with clients.
D) There are no provisions restricting his employment because the restriction time period has elapsed.
Answer: A) He cannot be employed because he is still subject to statutory disqualification provisions.