I recently learned about the SEC changes in 2020 which designates holders of the Series 7, 65 and 82 licenses as accredited investors. Since I have less than $1MM and don’t make $200K per year I thought I might as well do one of the exams so I can invest in private companies. I plan to take the SIE in the next couple of weeks and and wondering which of the topper exams would (a) be most beneficial for opportunities on the buy side, and (b) be easiest? Background: I studied finance and CS in college, and worked at a small VC fund in college, where I worked as an analyst then associate on a couple dozen deals. I’m currently working as a software engineer Edit: I’m able to get sponsorship #finra #vc #pe
You need to be sponsored by a firm to take the 7 or 82, so 65 is your only option
Edited the post - I can get sponsorship
Buyside doesn't care about these licenses. Most series exams require firm sponsorship btw
You need a company sponsor for the 7. Not sure about the 65 though.
Is it worth it? Unless I'm mistaken, being sponsored and registered through a firm subjects you to all of the reporting and audit requirements. They'd even have to monitor all of your personal investment holdings. I'm surprised a firm would sponsor you if you don't plan to use your license(s) to do work for them because the SEC, FINRA, and State examiners frown upon "parking" licenses. Some registered firms limit which types of investments you can trade while under them. Once they no longer sponsor you, the license will go inactive and then lapse within 2 years (requiring retesting)
This!
Why don’t they like parking licenses?
I passed the 7 and 63. Used to work at Goldman
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65 you can take with you, most others you have to get a company to sponsor you.
Edited the post- I can get sponsorship
Doesn't it expire after 2 yrs? Do folks always have to keep doing this every 2yrs to be accredited?