Issuer Agent Filing Guidelines

{Ala. Code § 8-6-3 and Commission Rule 830-X-3}

Issuer agent registrations are restricted registrations and the agents can only sell securities on behalf of the one issuer with whom they are registered.

To make application as a Restricted/Issuer Agent, please submit the following to the Commission:

  1. Form U-4 | Instructions
  2. $70.00 application fee made payable to the State of Alabama
  3. Evidence of having passed the appropriate exams
    1. Series 63 or Series 66
    2. An examination on general or limited securities principles, i.e. S7

Please Note the Following Information:

  1. Restricted Agent Registration terminates on December 31st unless registration is renewed for the following year. The renewal fee of $70.00 is to be remitted to the Commission prior to December 31st.
  2. Effective January 1, 2010, the new passing scores for each securities law exam will be as follows:

Series 65

94 Raw Score

  • Percentage of Test Points: 72%

Series 63

43 Raw Score

  • Percentage of Test Points: 72%

Series 66

75 Raw Score

  • Percentage of Test Points: 75%

Exam waivers are available under limited circumstances and are strictly granted on an individual basis.