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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.