SRO Qualification and Registration Requirements
Chapters in this video
- 0:00 Why passing the SIE does not make you registered
- 1:56 The four chronological steps to full registration
- 2:25 Top-off exams: choosing your role-based path
- 3:52 Who files Form U4 and the CRD system
- 4:17 Form U4 lookback periods: 10 and 5
- 5:40 The 30-day and 10-day update deadlines
- 6:28 Reasonable investigation: no three-year rule
- 6:53 SEC fingerprinting mandate and FINRA's managing role
- 7:25 Rapid-fire exam recap
What this video covers
- Why passing the Securities Industry Essentials (SIE) exam alone does not make you registered, and what the four remaining steps are
- Which top-off exams map to which roles (Series 7, Series 6, Series 79, Series 57) and the firm-sponsorship requirement that applies to top-offs but not the SIE
- Who files Form U4 (the firm, not the individual), through what system (CRD, the Central Registration Depository), and the 10-year employment and 5-year residential history disclosures
- The 30-day update rule for material changes to Form U4 and the stricter 10-day deadline for statutory disqualifications
- The 30-day fingerprint submission window and the consequence of missing it (registration becomes inactive)
- What constitutes a reasonable background investigation and why there is no separate three-year lookback rule
- Why fingerprinting is an SEC mandate, not a FINRA rule, and the extremely narrow exceptions to the fingerprinting requirement
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete SIE course in the app is free too, including adaptive practice questions and spaced-repetition flashcards.