Finra and state securities regulators have delayed the launch of online testing for securities licenses.
The Financial Industry Regulatory Authority Inc. and the North American Securities Administrators Association were to start online testing on May 24, and sign-ups were to have begun Monday.
Pilot testing of the system began in late April and has now been extended, Finra said in an update on its website.
“As a result, additional time is necessary before we can make online appointment scheduling available to all test candidates and firms,” Finra said. “We will continue to refine the implementation of this online service and will communicate an anticipated launch date in the near future.”
Finra and the states were moving toward online testing in response to social distancing requirements during the COVID-19 pandemic. Once the system is up and running, candidates will be able to take the following qualification exams: Securities Industry Essentials and Series 6, 7, 63, 65 and 66. The exams will be administered by Prometric.
Finra, NASAA and the Municipal Securities Rulemaking Board will extend through June 30 all enrollment windows that have expired or will expire between March 16 and June.
Testing experts say the move to remote examinations is a change that likely will remain in place even after the pandemic passes.