Serier 7 licensing renewal?

Discussion in 'Professional Trading' started by hustler, Mar 16, 2007.

  1. hustler


    Hi, do you need to renew your series-7 license every once in a while?

    If so, then how often do you need to to this and what is the process of doing so? Do you need to take the exam again?

  2. hustler


    is this correct as posted in another thread?

  3. Surdo


    If it has not been active for over 2 years, it EXPIRES!

    Look it up on website and check.

    el surdo
  4. elit


    So while you trade at a prop firm you don't need to do anything?
  5. While you are actively trading at a prop firm, no. If you decided to quit the prop firm and than went working in a completely different industry; after 2 years the license is gone. However in some cases with some prop firms, if you were to go back to the same firm you left, even after the 2 year window, if and only if they are a PHLX registered firm, you could possibly get it back through them without having to retake the exam again.
  6. Broker/Dealers used to allow people to "park" their licenses but no longer do so because it is a huge RED FLAG to the regulators ( you must do some business ) AND because it costs the broker/dealer a substantial amount of money ( in the thousands ) for liability insurance, etc.
  7. Series 7 passed. 2 years later, if you're with a Firm, you will be advised to take your "Continuing Education" to keep your license active. After that, I think it is 3 years until Con't Ed.

  8. elit


    Don, could you please tell me what "Continuing Education" is?

  9. hustler


    Is that something at the firm?
  10. Continuing education is primarily testing updates on new rules, and you "can't" fail it, they keep re-asking the questions in a slightly different form, until you get it right. You "could" take too long and run out of time, be very few do.

    #10     Mar 19, 2007