SECURITIES AND EXCHANGE COMMISSION - Notice of Filing and Immediate Effectiveness of a Proposed Rule Change - FINRA Rule 1210 Registration Requirements

Sep 4, 2026

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Notice of filing and immediate effectiveness of a proposed rule change by the Financial Industry Regulatory Authority (FINRA) to amend FINRA Rule 1210 (Registration Requirements). The proposal targets reduced waiting periods for retaking FINRA qualification examinations after failed attempts. The notice outlines the current framework, explains the original rationale for the waiting periods, and discusses how changes in the qualification exam program affect the risks previously addressed, with the Commission seeking public comment.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages3

Reading Time8 min

AccessFree to download

Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change

Purpose

Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change

Purpose

and Notice of Filing Materials Under Seal; Filing Acceptance Date: July 2, 2026; Filing Authority: 39 U.S.C. 3642 and 3633, 39 CFR 3035. 105, and 39 CFR 3041.325. This Notice will be published in the Federal Register. Danielle LeFlore, Legal Assistant. [FR Doc. 2026–14352 Filed 7–15–26; 8:45 am] BILLING CODE 7710–FW–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–105885; File No. SR– FINRA–2026–014] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FINRA Rule 1210 (Registration Requirements) July 13, 2026. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on June 29, 2026, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by FINRA. FINRA has designated the proposed rule change as constituting a ‘‘non-controversial’’ rule change under paragraph (f)(6) of Rule 19b–4 under the Act,3 which renders the proposal effective upon receipt of this filing by the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to amend FINRA Rule 1210 (Registration Requirements) to reduce the waiting periods for retaking FINRA qualification examinations. The text of the proposed rule change is available on FINRA’s website at [http://www.finra.org](http://www.finra.org and at)[ and at](http://www.finra.org and at) the principal office of FINRA. 1 15 U. S.C. 78s(b)(1) . 2 17 CFR 240. 19b–4 . 3 17 CFR 240 . 19b–4(f)(6) . II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. FINRA has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose FINRA Rule 1210 requires each person engaged in the investment banking or securities business of a member to be registered with FINRA asa representative or principal in each category of registration appropriate to his or her functions and responsibilities as specified in FINRA Rule 1220 (Registration Categories), unless exempt from registration pursuant to FINRA Rule 1230 (Associated Persons Exempt from Registration) . Under FINRA Rule 1210.03 (Qualification Examinationsand Waivers of Examinations), before a person can be registered with FINRA he or she must pass the appropriate qualification examinations or obtain a waiver of the qualification examination requirement. If a person fails a FINRA qualification examination, FINRA Rule 1210.06 (Waiting Periods for Retaking a Failed Examination) sets forth the time the person must wait before he or she can retake that qualification examination. For the first and second failed attempts, the person must wait 30 calendar days to retake the qualification examination. A person who fails a qualification examination three or more times within a two-year period must wait 180 calendar days before he or she can retake that examination.4 These waiting periods apply to all FINRA qualification examinations, including the Securities Industry Essentials (‘‘SIE’’) qualification examination.5 4 For the 180-day waiting period calculation, failed qualification examin

FAQs

What is FINRA proposing to amend under Rule 1210?

FINRA proposes to amend FINRA Rule 1210 (Registration Requirements) to reduce the waiting periods for retaking FINRA qualification examinations.

What are the current waiting periods after failing a FINRA qualification exam?

For the first and second failed attempts, the person must wait 30 calendar days; for three or more failures within a two-year period, the wait is 180 calendar days before retaking the exam.

Why were the waiting periods originally implemented in 1989?

The waiting periods were adopted to encourage additional study, protect exam integrity by reducing rapid retesting risks, and give FINRA time to investigate potential breaches of the qualification exam rules of conduct.

Sep 4, 2026

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