NASAA Launches Program Letting Advisors Maintain Licenses Longer While Out of Industry
The North American Securities Administrators Association (NASAA) launched its Exam Validity Extension Program, the technology component that will allow advisors to leave the financial industry for up to five years and maintain their Series 63 license. Previously, advisors were able to retain their qualifications for just two years if they left the industry, without the need to pass broker and investment advisor exams in the interim. But under new rules promulgated by NASAA and the Financial Industry Regulatory Authority last year, the grace period has been pushed out to five years. NASAA is planning a similar extension for the Series 65 license.
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