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On May 12, 2008, the Waiver Subcommittee affirmed the Department’s denial of the 2007 Waiver Request, determining the request did not meet the standards set forth in FINRA’s Waiver Guidelines for a waiver of a qualification examination. The Waiver Subcommittee found that
Stegawski’s law degree lacked a "substantial emphasis on finance and investments."
he failed to submit a final transcript reflecting his graduation;
his SEC externship was not his "most recent employment" and lacked the "breadth of experience necessary" for an examination waiver;
that his "prior experience as a general securities representative was not substantial, [lasting] approximately four months."
his completion of the Series 24 Examination and Level I of the CFA Program did not "ensure the same breadth of knowledge of the securities laws and regulations as does completing the Series 7 Examination;" and
Stegawski should "re-familiarize [himself] with FINRA rules through the examination process and become familiar with the changes to the securities laws that have occurred since [he] last registered.