NASAA Implements Waiting Period for Those Who Fail Exams

WASHINGTON (June 5, 2000) – The North American Securities Administrators Association (NASAA)¹ has implemented the following waiting periods for individuals needing to retake the Series 63, Series 65 or Series 66 following a failed attempt: (1) a minimum of 30 days after failing the first exam before the second taking of the exam can be scheduled; (2) a minimum of 30 days after failing the exam for the second time before the third taking of the exam can be scheduled; and (3) a minimum of 180 days after failing the exam for a third time before the fourth taking of the exam (and each subsequent taking) can be scheduled.

These waiting periods, effective June 1, 2000, mirror those already in place for certain NASD-sponsored examinations.

The change will apply to all scheduling requests received on or after June 1, 2000 to retake exams regardless of when the exam was failed.

¹ NASAA, the oldest international organization devoted to investor protection, was organized in 1919. It is a voluntary association with a membership consisting of the 66 state, provincial and territorial securities administrators in the 50 states, the District of Columbia, Canada, Mexico and Puerto Rico. In the U.S., NASAA is the national voice of the 50 state securities agencies responsible for investor protection and the efficient functioning of the capital markets at the grassroots level.

2000 Headlines, Newsroom