Series 63 License Renewal Requirements

🔄 Series 63 License Renewal Requirements

How to Maintain Your Registration and Extend Exam Validity

The Series 63 license, officially known as the Uniform Securities Agent State Law Exam, is essential for individuals who wish to solicit the purchase or sale of securities within a state. Understanding the renewal requirements and how to maintain the validity of your Series 63 license is crucial for continued compliance and career progression.

📅 Annual Renewal Process

State Registration Renewal:

• Annual Renewal: State registrations associated with the Series 63 license must be renewed annually. This process typically occurs during the fourth quarter of each year.
• Renewal Program: FINRA’s Annual Renewal Program facilitates the collection of renewal fees on behalf of participating regulators, allowing firms to submit a single payment to FINRA instead of multiple payments to each regulator.
• Payment Deadlines: Firms should ensure that renewal payments are submitted by the specified deadlines to avoid late fees or termination of registrations.

⏳ License Validity and Termination

Termination and Grace Period:

• Form U5 Filing: If a registered individual leaves a firm, the firm must file a Form U5 to terminate the individual’s registration.
• Two-Year Grace Period: After termination, the individual has a two-year window to become re-registered with a new firm without the need to retake the Series 63 exam.
• Expiration: If the individual does not become re-registered within this two-year period, the Series 63 exam will expire, and the individual must retake the exam to regain registration.

🧠 Continuing Education Requirements

Regulatory Element:

• Annual CE Requirement: Registered individuals must complete the Regulatory Element of Continuing Education (CE) annually by December 31.
• Delivery Platform: The CE requirement is fulfilled through an online platform accessible via FINRA’s FinPro system.
• Content: The Regulatory Element provides training on significant rule changes and other regulatory developments relevant to each registration category.

🛡️ Exam Validity Extension Program (EVEP)

Maintaining Exam Validity Without Active Registration:

• EVEP Overview: NASAA’s Exam Validity Extension Program (EVEP) allows individuals to maintain the validity of their Series 63 exam for up to five years after termination, provided they meet certain conditions.
• Eligibility: To participate in EVEP, individuals must:
  • Enroll in the program.
  • Pay an annual fee.
  • Complete annual continuing education requirements.
• State Adoption: The effectiveness of EVEP depends on whether the individual’s state has adopted the program. Participation in EVEP will only be recognized in jurisdictions that have adopted the model rule.

✅ Summary Checklist

• Annual Renewal: Ensure state registrations are renewed annually through FINRA’s Annual Renewal Program.
• Termination: If you leave a firm, be aware of the two-year grace period to become re-registered without retaking the Series 63 exam.
• Continuing Education: Complete the Regulatory Element of CE annually by December 31 via FINRA’s FinPro system.
• EVEP Participation: Consider enrolling in NASAA’s EVEP to maintain exam validity if not currently registered, ensuring your state has adopted the program.

🚀 Need Help Managing Your Series 63 License?

For comprehensive guidance on maintaining your Series 63 license, including renewal processes, continuing education, and exam validity extensions, visit:

👉 https://finra-exam-mastery.com

Prepare smarter. Stay compliant. Advance your career.