State Law Conflicts with FINRA Investment Banking Registration

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While new NASD Rule 1032(i)is currently recognized by FINRA, a number of states have not yet amended statutes and rules which incorporate the new Series 79 limited registration into their regulatory framework. As a result, the impact for FINRA member firms engaged in investment banking activities is that new registrants and employees relying solely on the Series 79 qualifying exam for registration may face a delay in their actual registration effective date in some states.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Daniel LeGaye, The LeGaye Law Firm, PC | Attorney Advertising

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