Posted By: Mark Sanchirico
Updated: August 23, 2017
UPDATE 10/12/17: An effective date for the new Securities Industry Essentials (SIE) Exam has been announced. Read more here.
On Tuesday, May 24, at FINRA’s annual conference in Washington, DC, a session was devoted to our industry’s qualifications exams. Most notably discussed were the proposed Securities Industry Essentials (SIE) exam and the top-off exam licensing format. While a fair portion of the session recapped what has already been revealed in prior FINRA releases, some new perspective was added to the anticipated timeline for implementation, as well as a few other details.
Regarding timeline for implementation:
Within the remaining time between now and test center implementation, FINRA will:
Finally, some clarification was given for the sequence in which the SIE and appropriate top-off exams must be completed. Simply put, there is no requirement to pass one before the other. Candidates can choose to take either the SIE or the appropriate top-off exam first, with the other to follow. Of course, no licensing can be completed until both have been taken and successfully passed.
As we move toward the expected 2018 exam implementation in test centers, Kaplan will continue to keep you updated with new information from FINRA regarding their progression and the release of Kaplan study materials for these new exams.
After identifying nine series exams with common content (6, 7, 22, 57, 79, 82, 86/87, 99), FINRA has decided to restructure their licensing process next year. The common content will be tested in the new Securities Industry Essentials (SIE) exam. Download this free guide to learn more about how the new securities licensing process will work, the rationale for the change, proposed SIE exam content, and how it could change hiring and recruiting practices.