FINRA Securities Agents: How To Register
- Examination: The individual initially must be employed by a broker-dealer for sponsorship of him/her to take the appropriate exams required by the Federal Regulatory Agency. Michigan requires the Series 63 exam. Waivers may be granted for the following reasons:
- If the Series 66 exam was passed in lieu of the Series 63.
- If an agent was approved in the securities business prior to the Series 63 requirement going into effect, and has not been unregistered for a period of two or more years.
- If an agent passed the Series 63, and has been registered within the preceding two years in a state requiring the Series 63.
However, in order to grant the waiver our office must be notified of the agent's Series 63 deficiency by e-mail or fax at 517-241-6356, ATTN: Securities Agent Registration.
- Federal approval is required by FINRA before a state securities registration approval. The broker-dealer is knowledgeable of this process; however, you may contact FINRA for further information at 301-590-6500.
- Submit a Form U-4 electronically through FINRA's nationwide database, known as the Central Registration Depository (CRD) System. The employing broker-dealer should have knowledge of this process; however, you may contact FINRA for further information at 301-590-6500.
- Agent fees are $65.00 for a new application and when transferring from one firm to another. These fees are deducted automatically from the employing broker-dealer's account with FINRA and forwarded to Michigan.
- Pending registrations may take up to 30 days to be approved or for more information to be requested by mail. You may check the registration status on FINRA's website under the Broker-Dealer check link.