Michigan Uniform Application for Securities Industry Registration or Transfer
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How to fill out Michigan Uniform Application For Securities Industry Registration Or Transfer?
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FAQ
All investment advisers and representatives operating in Michigan must adhere to the Michigan Uniform Securities Act. Get Your Education. Pursue a degree.Step 2: Register Your Firm in Michigan.Step 3: Take the Required Exam(s)Step 4: Ongoing Renewal and Update Requirements in Michigan.
A securities license allows you to market and sell investments. Depending on the license you obtain, you might have a job as a registered representative, stockbroker, or investment advisor.
Examination Requirements: Michigan Investment Adviser Representative (?IAR?) registration requires either the Series 65 examination, or the combination of a Series 66 examination and a Series 7 exam held together. The exams must be taken and passed within 2 years preceding the application date.
Michigan requires the Series 65 examination, which must be passed within two years preceding the date of application. The Series 65 costs $187. Schedule both exams through one of the Michigan exam locations. You have four months from the initial registration date to schedule these exams.
Under the Uniform Securities Act, registration of a security in a State means that: I disclosure documents have been filed with the Administrator. II the Administrator has reviewed the content and accuracy of the filing. III the Administrator has approved of the securities being offered.
To become registered, securities professionals must pass qualifying exams administered by FINRA to demonstrate their competence in the particular securities activities in which they will work. An individual must pass the exams prior to engaging in those areas of the business.
The Series 65 license, known as the Uniform Investment Adviser Law Examination, qualifies individuals to provide investing and general financial advice to clients. Passing the Series 65 exam qualifies individuals as Investment Advisor Representatives (IARs).
This introductory-level exam assesses a candidate's knowledge of basic securities industry information including concepts fundamental to working in the industry, such as types of products and their risks; the structure of the securities industry markets, regulatory agencies and their functions; and prohibited practices