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?

By Shauna Carther AAA
A:

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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