Regulatory Notice: Effective Date for Changes to Qualification Examination Fees

In FINRA Notice to Members 15-08 , FINRA noted that it regularly conducts a comprehensive review of the examination fee structure, including an analysis of the costs associated with developing, administering and delivering each examination, so that FINRA may better understand whether pricing changes are warranted and evaluate the financial condition of each qualification examination program.

In this regard, the most recent review revealed that certain operational costs have increased and, based on current information, will continue to increase over the next few years. In particular, these increased costs consist of: (1) fees that vendors charge FINRA for delivering qualification examinations through their networks of test delivery centers; (2) staff labor associated with the development and maintenance of the qualification examinations; and (3) PROCTOR system maintenance and enhancement expenses.

FINRA is increasing qualification examination fees as follows: