Regulatory Notice 26-18

Effective January 19, 2027, candidates may retake after 15 days (down from 30) following a first or second failure, and after 60 days (down from 180) following a third or subsequent failure within a two-year window. For compliance teams, this is a moderate operational change rather than a systemic overhaul. The immediate action is to update exam retake policies, supervisory procedures, and registration tracking systems.

HR and registration teams should revise candidate communications and onboarding timelines. Firms may also review training and study support to reduce repeat failures. The shorter intervals can accelerate requalification, reduce downtime for prospective registered representatives, and improve talent mobility.

However, faster retakes may increase exam scheduling pressure and require closer monitoring of candidate readiness. No new filing obligations are created, but firms should document updated procedures and train relevant staff. Given the 2027 effective date, there is ample time to implement changes, but early planning is advisable.

RegCanary recommends a low-to-medium priority project: assign ownership, update policies, and consider how the shorter waiting periods interact with continuing education and registration requirements. Overall impact: Moderate; urgency: Low.