phlx and the series 7

i understood from one of the threads that if i am trading by generic (phlx) than my 7 is hanged?
that is why i cann't find my name in the NASD site?
is it expiring after a time i am in phlx?
too complicated for me and my manager doesn't know it all.....

 

You have two years, after that they may or may not still except it. They are very incosistent on it.

 

NASD is vastly different than the other exchanges. They are the most stringent and a number of shady operators as well as other reputable firms choose to SRO through the Phlx, ChicagoExch, PSE or otherwise.

NASD is the location where one usually gets licensed through, and after U5 termination from their affiliated firm, generally allowed a 24 month period for parking one's license. After that time, then for the NASD to recognize your licensed status one must retest and restart.

The other exchanges do not keep to this imposed arbitrairy 24 month timeline and allow for previously licensed persons to essentially be grandfathered into current status as recognition that once achieved, unless violated, always licensed.

Hence, this benefits most traders from a current (NASD) evaluation perspective.