Regulatory Notice 18-27

Restructured Qualification Examinations and Related Examination Fees

Effective Date: October 1, 2018

Summary

Effective October 1, 2018, FINRA is restructuring its representative-level qualification examination program. As part of this restructuring, FINRA has developed the Securities Industry Essentials™ (SIE™) examination and revised several of its representative-level qualification examinations. In addition, FINRA has (1) set the fee for the SIE examination; (2) revised the fees for the representative-level examinations that FINRA is retaining; and (3) revised the administration and delivery fee for the Municipal Securities Representative (Series 52) examination.

The text of the amendments to Section 4(c) of Schedule A to the FINRA By-Laws relating to examination fees is set forth in Attachment A. The new and revised qualification examination fees will apply for examination requests made on or after October 1, 2018.

Questions regarding this Notice should be directed to:

  • John Kalohn, Vice President, Registration and Disclosure, at (240) 386-5800.