N.J. Admin. Code § 13:47A-4.5

Current through Register Vol. 56, No. 24, December 18, 2024

Section 13:47A-4.5 - Requests for waiver of agent or investment adviser representative examinations

(a) Except for requests made pursuant to (b) below, requests for waiver of agent examination requirements will be granted only on the basis of knowledge, training, and experience in the securities field. Any person, other than the agent of an issuer registered pursuant to N.J.A.C. 13:47A-3.3, requesting a waiver must have been continuously and lawfully active in the securities field for a period of at least two full years prior to filing the request and have such knowledge, training, and experience as the Bureau Chief deems appropriate for the individual seeking the waiver.

(b) Requests for waiver of the agent examination must be submitted in writing directly to the Bureau Chief and requested no later than the filing of an application for registration with the CRD or the Bureau, as appropriate.

(c) Requests for waiver of investment adviser representative examination requirements will be granted only on the basis of knowledge, training, and experience related to investment advisory work. Any investment adviser representative requesting a waiver must have been continuously and lawfully active in the investment advisory field for a period of at least two full years prior to filing the request and have such knowledge, training, and experience as the Bureau Chief deems appropriate for the individual seeking the waiver.

1. An applicant who is an agent for a broker-dealer and provides advisory services, but is not required by the agent's home jurisdiction to make a separate filing on CRD as an investment adviser representative, but who has previously met the examination requirement in N.J.A.C. 13:47A-4.3(a), which expired after two years of non-affiliation in a registered capacity, may request in accordance with (c) above, a waiver of retaking the Uniform Investment Adviser State Law Examination (Series 65). Based upon a review of the registration application and waiver request, the Bureau may request a certification by the applicant and/or his or her employer(s) that the applicant has provided investment advisory services for the previous two years.

(d) Requests for waiver of the agent or investment adviser representative examination must be submitted in writing directly to the Bureau Chief and requested as part of the filing of an application for registration with the CRD or the Bureau, as appropriate.

N.J. Admin. Code § 13:47A-4.5

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