NYSE reduces exam retake waiting periods for member firms
Effective immediately upon filing on Sept. 10, 2026, the rule shortens waiting periods for failed FINRA qualification exams for NYSE member organizations.
On September 10, 2026, New York Stock Exchange LLC filed a proposed rule change with the Securities and Exchange Commission, identified as Release No. 34-106460; File No. SR-NYSE-2026-44. The notice, published September 22, 2026 in the Federal Register (Vol. 91, No. 185, pp. 61000-61002, FR Doc No. 2026-19634), announces immediate effectiveness of the filing.
The amendment to NYSE Rule 1210 reduces the waiting periods for retaking failed qualification examinations. After the first and second failed attempts, the waiting period drops from 30 calendar days to 15 calendar days. After the third and all subsequent failed attempts within a two-year period, the waiting period drops from 180 calendar days to 60 calendar days. The change applies to the Securities Industry Essentials examination and the representative and principal examinations covered by NYSE Rule 1220.
The Exchange states the revision is intended to align NYSE rules with a recent amendment to FINRA Rule 1210, which made the same reductions. Aligning the waiting periods is expected to promote consistency across the regulatory framework and lessen the burden on individuals seeking registration.
The Exchange will announce the implementation date of the amendment in a Regulatory Memo issued on or around the same time FINRA publishes its Regulatory Notice. The change is grounded in Section 6(b) of the Securities Exchange Act of 1934, which authorizes the Commission to adopt rules that protect investors and the public interest.
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