FINRA has approved changes to Rule 1210 (Registration Requirements) that will shorten waiting periods for candidates retaking qualification examinations, including the Securities Industry Essentials (SIE) exam and FINRA representative-level exams.
The rule change became effective upon filing with the SEC on June 29, 2026. However, the current waiting periods ramain in place until FINRA announces an implementation date through a future regulatory notice. For exam purposes, be familiar with the following revised waiting periods.
Updated FINRA Fail Policy: If you fail the exam the 1st or 2nd time you take it, you must wait 15 days before you can take the exam again. If you fail the exam 3 or more times, you must wait 60 days after the 3rd subsequent failed attempt that occur within a 2-year period.
| Attempt | Current Wait | Proposed Wait |
| 1st Failed Attempt | 30 Days | 15 Days |
| 2nd Failed Attempt | 30 Days | 15 Days |
| 3rd or More Failed Attempts | 180 Days | 60 Days |
NASAA has adopted changes to its examination retake policy that reduce the waiting period for candidates who fail a qualification examination 3 or more times within a 2-year period. The revised policy becomes effective January 4, 2027. For exam purposes, be familiar with the following updated waiting periods.
| Attempt | Current Wait | Proposed Wait |
| 1st Failed Attempt | 30 Days | Unchanged |
| 2nd Failed Attempt | 30 Days | Unchanged |
| 3rd or More Failed Attempts | 180 Days | 60 Days |
Updated NASAA Fail Policy: If you fail the exam the 1st or 2nd time you take it, you must wait 30 days before you can take the exam again. If you fail the exam 3 or more times within a 2-year period, you must wait 60 days after the 3rd and subsequent failed attempts.
For candidates, shorter waiting periods may provide more flexibility if an exam attempt doesn't go as planned.
Instead of waiting a full 30 days after a first or second failed attempt, eligible candidates may be able to schedule a retest sooner. This could help candidates maintain momentum and continue progressing toward their registration goals.
However, a shorter waiting period doesn't necessarily mean a candidate should test again as quickly as possible. Before scheduling a retest, candidates should take time to review their performance, identify knowledge gaps, and focus on the areas that contributed to the unsuccessful attempt.
Read more tips about what to do if you fail: Effective Strategies for Passing your Licensing Exam After a Failure.
Exam success is built on preparation, not simply timing. Candidates should work with their manager, training team, and study resources to determine the most appropriate time to retest based on their readiness and understanding of the material.
For many firms, licensing timelines directly impact onboarding, productivity, and candidate retention.
The shorter waiting periods may allow candidates who narrowly miss a passing score to return to testing more quickly, potentially helping organizations reduce delays in the licensing process.
At the same time, organizations may want to consider how these accelerated timelines affect remediation and exam readiness strategies. Faster access to a retest can be beneficial, but candidates still need sufficient time to identify and address knowledge gaps.
As this rule rolls out, managers may want to evaluate:
Organizations that already leverage performance reporting, practice exams, and readiness indicators may be particularly well positioned to help candidates make the most of these changes.
Whether you're a licensing manager evaluating retesting strategies for your recruits or a candidate preparing for your next exam attempt, these updated waiting periods may create new opportunities to reduce delays and maintain progress toward licensure.
We'll continue to monitor FINRA's implementation updates and share additional information as it becomes available.