The MSRB has announced the end of a COVID-related grace period allowing municipal principals to delay taking their qualification exams.
When testing centers closed at the start of the COVID pandemic, the MSRB granted temporary relief from the exam requirement for Municipal Securities Principals (Series 53), Municipal Fund Securities Limited Principals (Series 51), and Municipal Securities Sales Principals (Series 9/10). Representatives with at least 18 months’ relevant experience could be promoted to one of these principal positions while deferring their principal exams.
With the ending of the grace period, municipal principals must pass their principal exams by December 27th in order to continue functioning as principals.
A similar grace period for Municipal Advisor Principals (Series 54) ended late last year. Read Solomon’s August 2, 2021 blog post to learn more.
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