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The Series 62 was the Corporate Securities Representative Examination administered by the Financial Industry Regulatory Authority. It was retired on October 1, 2018, when the Securities Industry Essentials exam and a new structure of top-off exams replaced several legacy licenses. If you passed the Series 62 before it was retired and have kept your registration current and active since then, you still hold a valid and recognized license. You do not need to take any replacement exam unless your registration lapses.
Think of the Series 62 like a discontinued vehicle model: no new units are being made, but existing ones on the road remain roadworthy.
A Series 62 holder was authorized as a Corporate Securities Limited Representative. The license covered solicitation and sale of corporate securities in both public offerings and private placements. Specifically, that included corporate bonds, equities, preferred stocks, rights, warrants, closed-end investment companies, money market funds, real estate investment trusts, asset-backed securities, and mortgage-backed securities.
The Series 62 did not cover municipal securities, options, or direct participation programs. Those required separate registrations.
The Financial Industry Regulatory Authority restructured its exam program in 2018 to introduce the Securities Industry Essentials exam as a corequisite general knowledge exam available to anyone, even without a firm sponsor. The Securities Industry Essentials exam replaced the general knowledge portions of several legacy exams, including the Series 62. In its place, candidates pursuing similar roles now take the Securities Industry Essentials exam plus the Series 7 General Securities Representative Examination, which covers a broader scope than the original Series 62.
If you leave the industry and your Series 62 registration becomes inactive for more than two years, you lose the license. To re-enter the industry and resume those activities, you would need to qualify under the current exam structure by passing the Securities Industry Essentials exam and the Series 7. The Series 62 cannot be re-earned because it no longer exists as an active examination.
Current holders of an active Series 62 license should note that the license is recognized by the Financial Industry Regulatory Authority as a valid predecessor qualification for the Series 24 General Securities Principal Examination. If you wish to become a general securities principal, you can use your Series 62 as your qualifying representative-level credential.
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