WASHINGTON Municipal securities professionals who take a Municipal Securities Rulemaking Board-owned qualifications exam on or after April 1 will pay an increased fee of $150, the MSRB announced this week.
The MSRB filed a rule change with the Securities and Exchange Commission, amending its Rule A-16 on examination fees to increase the exam cost from its original $60. The rule change was immediately effective.
MSRB chair Kym Arnone first announced the board’s intention to increase the fee after a quarterly meeting last month, noting that it had not been increased since 2009.
“Test fees help offset a small portion of the resources needed to create and maintain effective professional qualification exams,” the board said in a release.
The new fee will apply to the Series 51, 52 and 53 licensing exams, and will also apply to the municipal advisor representative qualification exam currently under development by the MSRB as well as the pilot version of that exam that the board hopes to have available later this year.
The new cost does not include the administrative fees assessed by the Financial Industry Regulatory Authority, which administers the exams. Those fees range from $95-$120 per exam.
