N.J. Admin. Code § 13:47A-4.2

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:47A-4.2 - Examinations for agents

(a) No person shall be registered as an agent unless he or she has successfully passed the Securities Industry Essentials Exam (SIE), the appropriate agent registration examination as specified in FINRA Rule 1220, and the Uniform Securities Agent State Law Examination (Series 63), or their successor exams, or has been granted a waiver by the Bureau Chief. Individuals acting in the capacity of an agent are required to take and pass the examinations required by FINRA for the type of activity the individual intends to perform prior to performing the corresponding activities. Individuals acting in a supervisory capacity are required to take and pass the appropriate supervisory examinations required by FINRA prior to performing the corresponding activities.

(b) Except as provided at (c) below, any person whose registration has been terminated for a period of two or more years preceding the date of receipt by the Bureau of a new application for registration shall be required to pass the examinations set forth at (a) above unless granted a waiver by the Bureau Chief pursuant to N.J.A.C. 13:47A-4.5(a).

(c) A person who terminates any of the representative or principal registration categories with FINRA and who satisfies the conditions of FINRA's Continuing Education Program for Persons Maintaining Their Qualification Following the Termination of a Registration Category (FINRA Rule 1240(c)) may maintain the person's examination qualification for any of the terminated registration categories for a period of five years following the termination of the registration category.

N.J. Admin. Code § 13:47A-4.2

Amended by 47 N.J.R. 2155(a), effective 8/17/2015

Amended by 56 N.J.R. 1876(a), effective 9/16/2024