NASD Notice to Members 05-13 - February 2005

NASD Reminds Firms of April 4, 2005, Expiration Date of Grace Period to Meet NASD Research Analyst Qualification and Examination Requirements (Series 86/87)

Executive Summary

In Notice to Members (NTM) 04-25, NASD announced that the research analyst registration requirements and examination program went into effect on March 30, 2004. As of that date, any associated person functioning as a research analyst must pass the Research Analyst Qualification Examination (Series 86/87) or obtain an exemption or waiver. Persons functioning as research analysts on March 30, 2004, were granted a grace period until April 4, 2005, within which to meet the registration requirements, provided the member firm with which they are associated applied for the research analyst registration by June 1, 2004. NASD reminds such persons and member firms that the grace period will end on April 4, 2005, and should a research analyst fail to pass (or receive an exemption from) the necessary examination(s) by April 4, 2005, such individual’s registration as a research analyst will terminate on April 4, 2005. NASD will not grant any extensions of the grace period.

 

Questions concerning this Notice may be directed to Joe McDonald, Associate Director, NASD Testing and Continuing Education Department (TCE), at (240) 386-5065; or Carole Hartzog, Senior Analyst, TCE, at (240) 386-4678.