Most states accept a passing Series 63 result that is under two years old. After two years, accepting the score is up to the state's policy and is not guaranteed. As long as a registered individual remains employed with the firm that sponsored initial registration, the Series 63 result remains valid. If that individual is terminated, the registration ends. The candidate then has two years to find another employer before the score expires.
State regulators may decide to offer a waiver under some circumstances when registration expires. Usually, waivers are offered to some employees of the financial services industry who no longer work in a position requiring registration. More information about waivers may be obtained by contacting state regulators. The North American Securities Administrators Association maintains a list of state regulators and provides their contact information.
When registered individuals leave sponsor firms, the sponsor firm files a U5 form to end that employee's registration. The new employer must file a U4 form to renew registration for the applicant. Some employees are not required by the state to obtain registration but do so because of an employer's request.
Employers are permitted to require registration over and above minimum state requirements. Individual states also differ on what finance careers are required to obtain registrations and licenses. Taking securities orders, for example, is sufficient for registration to be required in some states. Exam candidates should check with state regulators to find state-specific policies that apply to the financial professional careers that interest them.