Another Exchange Speeds Broker Exam Retries
Published Date: 8/11/2026
Notice
Summary
MIAX Sapphire is speeding things up for folks who need to retake their FINRA qualification exams by cutting down the waiting times between tries. This change helps traders and financial pros get back on track faster without extra delays. The new rule is already in effect, so no waiting around—just quicker chances to pass and keep working!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Faster FINRA Exam Retakes for Individuals
If you need to retake a FINRA qualification exam to register as a representative or principal, the waiting time is shortened to 15 days after your first and second failed attempts, and 60 days after your third and later failed attempts within a two-year period. Previously the rule required 30 days after a failed attempt and 180 days after three or more fails within two years. The Exchange filed this change on August 6, 2026 and it is effective upon filing.
Less Burdensome Rules for Dual Member Firms
Broker-dealer members that are members of both MIAX Sapphire and FINRA will have the same qualification-exam retake waiting periods because MIAX Sapphire aligned its rule with FINRA's 15/15/60 schedule. This harmonization is intended to reduce duplicate or conflicting requirements and make compliance more efficient for dual members. The Exchange cited FINRA's June 29, 2026 filing as the basis for alignment.
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