Series 24: 1.2.5.5. License And Jurisdictional Retention

1.2.5.5.  License and Jurisdictional Retention

If a registered person leaves the industry and returns within two years, that person’s licenses remain valid. If his return occurs after two years, the person must requalify by passing the appropriate exam.

FINRA’s Maintaining Qualifications Program (MQP) allows a registered individual who left or leaves the industry after March 15, 2020 to avoid the requirement to retake their qualifying exam upon returning to the industry for up to five years. An individual who is enrolled in the MQP must complete the FINRA-mandated regulatory element (see below) and practical element annually to be eligible for the extended five-year grace period. The regulatory element deals with current issues and regulatory concerns specific to a registration category. The practical element covers products, serv