Federal Register #SR-NASDAQ-2026-060

SEC Notice: Nasdaq and IEX Propose Regulatory Amendments to Exam Retake Periods and Rule Implementation

This notice details proposed regulatory changes affecting securities industry qualification exams and rule implementation timelines: - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - The Nasdaq Stock Market LLC (proposing rule change) - Investors Exchange LLC (IEX, proposing implementation extension) - Financial Industry Regulatory Authority (FINRA, referenced as standards body) - Products/Services Requested: - No physical products or commercial services are being procured - Regulatory service changes include: - Reduction of waiting periods for retaking FINRA qualification exams (Nasdaq): - 15 days after first and second failed attempts - 60 days after third and subsequent failed attempts within two years - Extension of implementation deadline for a recent IEX rule change by 30 days - Unique or Notable Requirements: - Nasdaq's rule change aligns its retake waiting periods with FINRA Rule 1210 - IEX's extension moves the Trading Alert deadline to a new date - Changes are intended to promote regulatory consistency and reduce barriers for industry entrants - No purchase quantities, part numbers, or contract values are involved

Description

The Nasdaq Stock Market LLC has filed a proposed rule change to amend Nasdaq General 4, Rule 1210, specifically to reduce the waiting periods for retaking FINRA qualification examinations. The amendment aligns Nasdaq's waiting periods with recent changes to FINRA Rule 1210, shortening the wait times after failed attempts to 15 calendar days for the first and second failures, and 60 calendar days for the third and subsequent failures within two years. This change aims to promote consistency, reduce confusion, and lessen the burden on individuals seeking to enter the securities industry while maintaining examination integrity.

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