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Regulatory Notice: Effective Date for Changes to Qualification Examination Fees

April 1, 2015

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:

 Registered Options Principal  Series 4  $100 $105

 Investment Company Products

Variable Contracts Representative

 Series 6  $95 $100
 General Securities Representative  Series 7  $290 $305

 General Securities Sales Supervisor

Options Module


 Series 9  $75 $80

 General Securities Sales Supervisor

General Module

 Series 10  $120 $125

 Assistant Representative

( Order Processing )

 Series 11  $75 $80
 Compliance Officer  Series 14 $335 $350
 Supervisory Analyst  Series 16 $230 $240
 Limited Registration Representative  Series 17  $75  $80

Direct Participation

Programs Representative

Series 22 $95 $100

General Securities Principal

Sales Supervisor Module

Series 23 $95 $100
General Securities Principal Series 24  $115  $120



April 1, 2015
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