Posts tagged as:

series 65

Securities Exam Changes in 2010

February 15, 2010

Series 63, Series 65 and Series 66 Changed as of January 1, 2010
In an earlier post, we discussed that the passing grades for the Series 65 and 66 have increased.  Below is further information from the Securities Training Corporation on the changes to the securities exams in 2010.
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The Series 63, 65, and 66 Examinations Are [...]

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Series 65 and Series 66 Passing Grade Increased

November 27, 2009

IA Exams Pass Rates Expected to Plummet

The North American Securities Administrators Association (“NASAA”) recently announced that the two central investment advisor exams (the Series 65 and the Series 66) will become even more difficult.  Starting January 1, 2010 candidates will need to attain a score of 72% in order to pass the Series 65 exam [...]

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Hedge Fund Registration Quick Facts

February 3, 2009

Hedge Fund Transparency Act of 2009 Overview
This article provides an overview of the major provisions of the Hedge Fund Transparency Act of 2009.  There are two major things that the HFTA does: (1) increases regulation of hedge funds under the Investment Company Act and (2) requires hedge funds to adopt anti-money laundering programs.
Changes under the [...]

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Hedge Fund Comments/ Questions and Answers

January 13, 2009

Questions and discussions from Hedge Fund Law Blog readers
I get quite a few questions from readers and usually I am able to answer these questions via email within a couple of days.  If you have any questions, comments or simply want more information on starting a hedge fund, please feel free to contact us.  We [...]

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Comments on the Series 65 and Series 66 Exam

November 5, 2008

I received a couple of comments regarding my posts on the Series 65 exam and the Series 66 exam which I would like to share with the community.  Both comments were made by Chuck Lowenstein, a Senior Editor - Securities at Kaplan Financial Education.
Regarding the post Differences between the Series 65 and Series 66 Exam, [...]

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Differences between the Series 65 and the Series 66

October 16, 2008

Hedge fund managers who must register as investment advisor representatives with the SEC (through notice filings) or the state securities commission will need to have the proper FINRA exam licenses.  Generally this means that the hedge fund manager will need to have passed the Series 65 exam within two years of registration (or the license [...]

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How to Register as an Investment Advisor

October 13, 2008

Many hedge fund managers come from brokerage firms or other investment advisory firms and may, accordingly, have some of the FINRA licenses like a Series 7 or a Series 65.  However, most managers have not registered an as investment advisor and do not understand the process.  This guide is designed to familiarize managers with the [...]

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Important compliance information for registered investment advisors

September 6, 2008

Many registered investment advisors are happy once a registration has gone through. The individual, or firm, has gone through all of the following:

Receiving entitlement to the IARD system
Passing the Series 65 exam (tips on the series 65 exam)
Completing both the investment advisory firm’s Form ADV and Form ADV Part II (the investment advisor brochure)
Filing [...]

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What licenses do you need to start or manage a hedge fund?

August 24, 2008

Question: What licenses do you need to start or manage a hedge fund?
Answer: This is a question that comes up quite often. Many people wonder whether they need a series 7 license or the series 65 license or the series 3 to manage a hedge fund. First, a potential hedge fund manager does [...]

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Question: can my firm have a “silent owner”

August 9, 2008

Question: I am a manager registered as an investment adviser in [State]. Can I have a “silent owner” who solicits clients for the management company or the fund? Also, since the owner is only a “silent owner” who does not do any of the trading, will the “silent owner” need to be registered [...]

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