NYSE National reduces exam retake waiting periods for ETP holders
The amendment to Rule 2.1210, effective immediately on Sept. 10, 2026, shortens waiting periods for failed qualification exams to align with FINRA.
On September 10, 2026, NYSE National, Inc. filed a proposed rule change with the Securities and Exchange Commission (Release No. 34-106463; File No. SR-NYSENAT-2026-26) to amend Rule 2.1210, Registration Requirements, for Equity Trading Permit (ETP) Holders. The notice, published in the Federal Register on September 22, 2026 (Vol. 91, No. 185, pp. 61013-61015; FR Doc No. 2026-19633), solicits comments on the amendment.
The amendment shortens the waiting periods for retaking failed qualification examinations. The current 30-calendar-day wait after the first and second failed attempts will be reduced to 15 calendar days, and the 180-calendar-day wait after the third and subsequent failed attempts within a two-year period will be reduced to 60 calendar days. These changes bring NYSE National's requirements into alignment with FINRA Rule 1210, Supplementary Material .06.
The Exchange states the purpose is to promote consistency with FINRA, reduce potential confusion for ETP Holders and their associated persons, and lessen the burden on individuals seeking entry into the securities industry. The filing notes that no written comments were solicited or received, and the Exchange does not anticipate any undue burden on competition.
The proposed rule change is grounded in Section 6(b) of the Securities Exchange Act of 1934 and is intended to protect investors and the public interest by maintaining examination integrity while facilitating a more efficient qualification process. The Exchange will announce the implementation date in a Regulatory Memo concurrent with FINRA's Regulatory Notice.
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