Series 65/66 waiver

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Jun 28, 2011 4:11 pm

Anyone familiar w/a law that says one can get a waiver on the series 65/66 if one has been continuosly emplyed and passed their 7 prior to 1-1-98? According to my state regulator (Calif) one can be qualified to do investment advisory business w/this waiver and it goes on the U-4.

Appreciate all input.

Jun 29, 2011 5:03 pm

To my knowledge and experience as a CCO of 10 yrs, the 65/66 is a state item.  Only a state can waive these, FINRA only handles series 7 waivers.  If the state grants the waiver make sure it shows up on your CRD.  Also, if you received the waiver in one state don't assume another state will honor it.  Inquire with that additional state before adding that 6th client (i.e., the IA de minimus rule).

good luck