Frequently Asked Question

February 26 2009  |  Filed Under » ,

I have already obtained my Series 7; however, I am no longer working for a member firm. How do I prevent my license from expiring?

According to the Financial Industry Regulatory Authority or FINRA, (previously the National Association of Securities Dealers or NASD), if you are no longer an employee of a FINRA member firm, you must regain employment at another member firm within two years of the termination date indicated on your most recent U-5 form. If after two years you have not found employment with another FINRA member firm, you will be required to rewrite your Series 7 examination.

Since the firm with which you were previously employed must submit form U-5 to FINRA, you can contact FINRA if you are unsure of your termination date.
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by

Shauna Carther

Shauna Carther
Shauna Carther is the vice president of content at Investopedia.com. In 2007, she appeared as a guest on Moneytrack, a Public Broadcasting Service program devoted to helping consumers learn to invest and take control of their finances.
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