Let’s Not Get Too Excited with FINRA’s Proposal on Re-Taking Exams

Most brokers dislike that they need to re-take their assessments if they are not used with a broker-dealer for 2 years or if they are not related to a member company. Now, FINRA concerns the rescue with a brand-new proposal to allow authorized agents to prevent re-taking their tests for approximately 7 years so long as they satisfy continuing education requirements.

The proposal also permits a person connected with a member company to acquire any certification and registration allowed by the member company no matter present need at the member company, and FINRA will also produce a brand-new Securities Industries Essentials test for those who are not connected with a member company. These people, who pass the SIE, might then take the 2nd examination if they sign up with a member company.

This is terrific action by FINRA, it is not a warranty that it will be authorized so we will continue to keep track of the scenario to see if modifications take place.