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Regulatory Recognition

On February 8, 2005, the Chartered Market Technicians Association (CMT Association) was informed that FINRA submitted a rule filing with the Securities and Exchange Commission to accept the CMT Level 1 Exam and CMT Level 2 Exam as an alternative to the Series 86 exam, required of financial analysts. The New York Stock Exchange filed their ruling on January 31, 2005.

Below are the instructions on how one may go about applying for their Series 86 Exemption. The full press release can also be found at the bottom of this page.

Series 86 Exemption
Instructions

FINRA has amended FINRA Rule 1050 to provide an exemption from the analysis portion of the Research Analyst Qualification Examination (Series 86) for applicants who have passed Levels I and II of the Chartered Market Technician (CMT) Certification Examination administered by the CMT Association.

To be eligible for the exemption, an applicant must have passed Levels I and II of the CMT Certification Examination and must either (1) have functioned continuously as a technical research analyst since having passed Level II of the CMT Certification Examination, or (2) have passed Level II of the CMT Certification Examination within two years of application for registration as a research analyst.

Exemption Procedures

In addition to submitting to FINRA via Web CRD a Uniform Application for Securities Industry Registration or Transfer Form (Form U4) to register a person as a Research Analyst, member firms compliance department are also required to request the exemption in writing for eligible candidates. To request the exemption, the member must submit the following information to the FINRA Testing and Continuing Education Department via e-mail at RSCMT@finra.org:

  • Candidate’s name (Last, First, Middle Initial)
  • Candidate’s CRD Number
  • Candidates Birth Date (MM/DD/YR)
  • Broker-Dealer Name and CRD

 

A statement of which prerequisite the candidate meets (i.e. whether candidate has either (1) functioned continuously as a technical research analyst since having passed Level II of the CMT examination, or (2) passed Level II of the CMT Examination within two years of application for registration as a research analyst.)

FINRA Staff will then contact CMT Association to confirm the candidate’s eligibility. Upon receipt of a positive response from CMT Association, the exemption will be posted to the candidate’s CRD record and notification will be sent to the member firm. Candidates who have not completed the required CMT Association Examinations must pass both the Series 86 and 87. For candidates seeking a Series 86 exemption, note that registration approval will not be posted until the candidate also passes the Series 87.

IIROC CE Accreditation

On behalf of the Investment Industry Regulatory Organization of Canada (IIROC), we acknowledge that the Chartered Market Technician Program (CMT Program) has been determined to meet the criteria of IIROC Continuing Education Programs.

Therefore, individuals successfully completing this course may claim IIROC Continuing Education Credits toward fulfilling their requirements for the current CE Cycle.

The details of your course accreditation are:

  • Provider: CMT Association
  • Course: Chartered Market Technicians (CMT) Program Exam Level I
  • Type: Professional Development
  • Course ID: CECAP 010078 (previous cycle ID: 6790 )
  • CE Cycle: 07
  • CE Credits: 20.00

A copy of this letter may be provided to course participants.

All continuing education activities that have been approved by CECAP are eligible to display the CECAP logo during the cycle for which they were approved. The logo can be included in your marketing information and should help identify and market accredited activities. Potential customers will be able to immediately recognize that the activity you offer is approved by CECAP to meet IIROC continuing education requirements. We encourage you to use the logo in your marketing materials. The guide for the use and accessing of the logo is available on our website once you have logged in at www.cecap.ca.

If you have any questions about the accreditation of this activity or the use of our logo please contact CECAP at info@cecap.ca or at 905-273-9559.

Office of Foreign Assets Control of the US Department of the Treasury Regulations

The CMT Association is fully compliant with Office of Foreign Assets Control (“OFAC”) policy, and is unable to work with individuals who live in countries subject to certain sanctions. 

If you live in North Korea, Cuba, or the Crimea region of the Ukraine, you are unable to be a member of the CMT Association or participate in the CMT Program. The CMT Association is also unable to work with Specially Designated Nationals (“SDNs”), regardless of their location. 

If you attempt to register for a CMT Association-sponsored program, activity or event despite U.S. sanctions that prohibit the CMT Association from doing business with you, we must cancel your registration and will not be able to offer you a refund.

Please visit the OFAC website for details and updates on current sanctions programs, including updates on OFAC’s recent Ukraine-related sanctions program.