Revising the Series 7 Examination Program
Published on:
October 28, 2011
SIFMA provides comments to the Securities and Exchange Commission (SEC) on the Financial Industry Regulatory Authority’s (FINRA’s) notice of filing and immediate effectiveness of proposed rule change to revise the Series 7 Examination program, File No. SR-FINRA-2011-045. According to FINRA the changes would “reflect changes to the laws, rules and regulations covered by the examination and to better reflect the functions and associated tasks performed by a General Securities Representative.” While SIFMA fully supports FINRA’s proposal to update the Series 7 in light of changes to applicable rules and regulations, it shares its concerns about the apparent trend to de-emphasize the Series 7 as the core industry exam taken by most personnel.