Series 7 Grandfathered

[astutej]

For licenses that have expired:

Does any firm Grandfather the series 7?
If not what would be requirements for waiving ?

No interest in more testing or retesting!

 

[rmorse]

Quote from astutej:
For licenses that have expired:
Does any firm Grandfather the series 7?
If not what would be requirements for waiving ?
No interest in more testing or retesting!

No. If you join a broker dealer that requires series 7, and you went more than 2 years without being associated with a BD, your license exam will have to be retaken. The only way to avoid that is to open a customer account to trade. If you have enough assets for a Customer Portfolio Margin account you can get good leverage and trade for yourself.

Bob

 

[EvOTrAdEr]

rmorse is right. No play without pay.

 

[cactus_trader]

echo trade will, they post it online even about the 2 yr issue

 

[rmorse]

Quote from cactus_trader:

echo trade will, they post it online even about the 2 yr issue

Actually, they say you have to retake it. The following is from their site.

"You will have to retake the Series 7 exam if it has expired._ Traders who are within two months of their license expiring_may be subject to additional restrictions.conditions to prevent license parking._ Please call to discuss."

The requirement comes from the regulator, not the firm. The firm must follow the regulation.

Bob

 

[astutej]

Grandfathering/Waiving may be dead from all the feedback I've gotten.

 

[hitnrun]

hey astutuej

Have you looked into joining a cbsx b/d ?

you may get a waiver ?

 

[cactus_trader]

Quote from rmorse:

Actually, they say you have to retake it. The following is from their site.

"You will have to retake the Series 7 exam if it has expired._ Traders who are within two months of their license expiring_may be subject to additional restrictions.conditions to prevent license parking._ Please call to discuss."

The requirement comes from the regulator, not the firm. The firm must follow the regulation.

Bob

well, they changed there FAQ section then. but at one time they allowed it. I am almost certain and I remembered it since it seems out of place

 

[hitnrun]

echo is not with philex any longer. that may be a dead issue with them

 

[astutej]

Ive called several CBSX Prop firms & so far I been told retaking the 7 or taking the 56 are my only options available.

Quote from hitnrun:

hey astutuej

Have you looked into joining a cbsx b/d ?

you may get a waiver ?