About
License for an agent of a security issuer. (Unlike an agent of a broker-dealer, an agent of an issuer sells a single product.)
Code Citation
Iowa Code section 502.402
Who Applies
Any individual effecting or attempting to effect sales of securities of one issuer (entity).
When To Apply
Licensure may take place at any time. Licenses are issued on a calendar year basis.
Initial Requirements
At least two separate examinations must be passed. One is a subject matter examination (usually a Series 7), depending upon the product being sold. The second examination (series 63) covers the uniform state securities act. Although there are several subject matter examinations, all applicants must pass the uniform state securities agent state law exam. Information about examinations and scheduling may be found at https://www.finra.org/registration-exams-ce/qualification-exams.
Duration
All licenses expire on December 31 of each year, regardless of the date of issue.
Processing Time
Most applications will be processed in 24 to 48 hours.
Fee Structure
Application: $40 Renewal: $40
Renewal Requirements
Pay renewal fee.
Exam
See “Initial Requirements” above.
Additional Information
https://iid.iowa.gov/securities-agent-license-information
Services Provided
Service Category