The one with the Series Seven license was an actual trained Broker and was experienced in Brokerage Firms probably, real Brokers would see through the scams of a Pump and Dump place like JT Marlin which was a fake company that ripped people off in Boiler Room scams, they would report the scams to the other people and possibly other Brokers for reference at best and at worse the police and Stock Market authorities because such activity would raise red flags and could be dangerous, they would quickly see the scams and tell people about them and that would cause problems quickly.
So they would never knowingly hire someone with a license and used the excuse that they dont hire Brokers there because they are just training new Brokers from scratch, ones that are corrupt and dont know about the scams, unless they apply for a Series Seven license while working for the company to further their own education, then realize how highly illegal their chosen job and occupation really is, and in most cases would just quit and work somewhere legitimate rather than risk continuing and getting arrested in case they ever got raided or found out by the police and FBI, which happens in the movie to Seth.
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