Most brokers despise the fact that they need to re-take their examinations if they are not employed with a broker-dealer for 2 years or if they are not associated with a member firm.   Now, FINRA comes to the rescue with a new proposal to permit registered representatives to avoid re-taking their exams for up to 7 years so long as they fulfill continuing education requirements.  See http://www.finra.org/sites/default/files/rule_filing_file/SR-FINRA-2017-007.pdf.

The proposal also allows a person associated with a member firm to obtain any qualification and registration permitted by the member firm regardless of current need at the member firm, and FINRA will also create a new Securities Industries Essentials exam for those who are not associated with a member firm.  These individuals, who pass the SIE, may then take a second specific exam if they join a member firm.

Although this is great step by FINRA, it is not a guarantee that it will be approved so we will continue to monitor the situation to see if changes occur.

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