Series 34 Exam
Study Guide

Registration Requirements

Forex managers and solicitors generally will need to make sure that both the firm and the individual (associated person or AP) are registered with the CFTC.  The firm will also need to be a member of the NFA.

Firms must complete and submit Form 7R through the NFA’s online registration system.  The cost for firm registration is likely to be $200 for Forex CPOs, Forex CTAs, and Forex IBs.  These firms will also need to become members of the NFA which costs $750 on an annual basis. These firms will also need to become members of the NFA which costs $750 on an annual basis. Guaranteed forex IBs need a guarantee form signed by the FDM [Form 1-FR-IB (Part B)].

Individuals must complete and submit Form 8-R through the NFA’s online registration system. Each individual (whether a principal or an AP) will need to have passed both the Series 3 exam and the Series 34 exam. Individuals will need to submit a fingerprint card as well.

→ NOTE:  Individuals who were APs of a registered firm as of May 22, 2008 may be “grandfathered” in and may not need to take the Series 34 exam.

Forex CPOs and forex CTAs will need to have their disclosure documents reviewed by the NFA prior to soliciting clients with those documents.

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