What defines statutory disqualification in the context of employment in the securities industry?

Statutory disqualification refers to specific conditions that disqualify individuals from employment in the securities industry due to legal reasons. The defining factor for statutory disqualification is a conviction related to securities or any felony committed within the last ten years. This provision is designed to maintain the integrity of the securities industry by ensuring that individuals who have committed serious offenses that compromise their trustworthiness and ability to perform their roles responsibly are barred from registration or employment.

The focus on criminal convictions, particularly those involving securities, serves to protect investors and uphold regulatory standards. This measure helps to prevent individuals with a history of fraudulent behavior or criminal activity related to financial matters from entering or remaining in the industry, thereby enhancing investor confidence.

Other options, such as personal choices not to register, unpaid financial obligations, or the age requirement for registration, do not constitute statutory disqualifications as they are not related to someone's legal or criminal history. Statutory disqualifications are specifically tied to legal convictions, making option B the correct answer in this context.