Effective 9/1/11, FINRA will levy a new fee on individuals who cancel or reschedule a qualification examination or Regulatory Element Continuing Education session 3 to 10 business days prior to the appointment date.  Both the examinations and Reg Element programs are administered via computer at testing centers operated by vendors under contract with FINRA. 

Qualification Examinations, Reg Element Programs.   Firms file Form U4 through CRD to request and schedule an examination appointment - an enrollment window then opens on Web CRD.   For Regulatory Element programs, an enrollment window automatically opens for registered persons in covered registration categories for the requisite program on the 2nd anniversary of their initial securities registration and every 3 years thereafter.

Once an individual or that individual's firm receives the enrollment notification, he or she may contact a FINRA authorized testing center to schedule an appointment.  Presently, FINRA charges a cancellation fee equal to the exam or Reg Element session fee if:  (i) this deadline is not met;  (ii) an individual doesn't appear for an appointment;  (iii) an individual arrives so late for an appointment that the exam or Reg Element session cannot begin without disrupting the testing center's schedule.

Beginning 9/1/11, ... FINRA will implement a fee for individuals who cancel or reschedule a qualification exam or Reg Element session within three to 10 business days of a scheduled appointment date - one-half of the applicable session fee will be assessed.  

FINRA Staff Contact.   Direct questions to:   Jeanne Hartman, Director of Operations, Testing and Continuing Education - (240) 386-6348.   [FINRA RegNote 11-36, August 2011]