While researching about the kinds of licences available in the financial service industry we have found the following .Mentioned below are some of the managing and supervisory licences which one has to get to work within the industry.
There are many different securities licenses available to an individual within the financial industry. Obviously the first one that comes to mind is the series 7 but as an individuals job requirement become more broad, or in some cases more specific, he/she will need to obtain additional licenses.
Many of the licenses required also carry a “supervisory” weight to them meaning they are required of those who will be managing or supervising sales activities within an organization. There are also more specific licenses available for those who will be predominantly working in the commodities, futures, and municipal bond arenas.
The range of difficulty of these tests range from the series 7, which takes multiple hours for most individuals to finish, to the series 31, which usually takes under 20 minutes. Beyond the “numbered” licenses, individuals can also earn designations such as a the CFP® (Certified Financial Planner).
Series 3 -Qualifies an individual to sell futures contracts or options on futures.
Series 4: Registered Options Principal- Qualifies managers to supervise option sales personnel or individuals supervising options compliance.
Series 6: Representative Investment Company Products/Variable Contract-Qualifies an individual to sell investment company securities, variable annuities, and variable life insurance mutual funds.
Series 7: General Securities- Qualifies a representative to sell any type of security.
Series 9: General Securities Sales Supervisor- Qualifies an individual to register as a principal to supervise sales activities in corporate, municipal, and options securities, investment company products, variable contracts, and direct participation programs.
Series 10: General Securities Sales Supervisor- Qualifies an individual to register as a principal to supervise sales activities in corporate, municipal, and options securities, investment company products, variable contracts, and direct participation programs.
Series 11: Assistant Representative/Order Processing- Qualifies an individual associated with an NASD member form to accept unsolicited telephone orders and give quotes to customers.
Series 23: General Securities Principal Sales Supervisor- Qualifies an individual to be an officer, partner or supervisor of sales personnel with an NASD member firm.
Series 24: General Securities Principal- Qualifies an individual to be an officer, partner, or supervisor of sales personnel with a NASD member firm.
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Series 27: Financial and Operations Principal- This course qualifies an individual to be a financial officer of a NASD member firm.
Series 31- Qualifies an individual to solicit funds, securities, or property for participation in a commodity pool, solicit discretionary accounts to be managed by CTAs, or supervise persons who perform these same limited activities.
Series 32- Qualifies individuals who are registered by regulatory authorities in the UK or Canada.
Series 33- Qualifies an individual to solicit or accept customer orders for futures or options involving stock index, currency, or interest rate/security futures products, or to supervise persons who perform these same limited activities.
Series 51: Municipal Securities Limited Principal- Qualifies an individual to manage, direct, or supervise activities in municipal fund securities.
Series 53: Municipal Securities Principal- Qualifies an individual to be a financial officer of a NASD member firm.
Series 55: Equity Trader/Limited Representative- Qualifies an individual to trade equity and convertible debt securities on a principal or agency basis.
Series 62: Corporate Securities Limited Representative- Qualifies individuals to sell corporate securities.
Series 63: Uniform Securities Agent State Law- Qualifies individuals to sell securities across state lines. These laws are sometimes called “Blue Sky” laws.
Series 65: Uniform Investment Advisor Law- Qualifies a representative to act as an investment advisor and receive a fee.
Series 66: Registered Agent and Investment Advisor- Qualifies an individual to be both an “agent” of a broker/dealer and an “investment advisor” representative in each state
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