TITLE: Colorado Division of Securities Extends Validity of Licensing Exams for Sales Representatives and Investment Adviser Representatives BODY: On February 18, 2026, the Colorado Division of Securities adopted new rules extending the validity of licensing exams for sales representatives and investment adviser representatives (IARs) for up to five years, subject to meeting specified criteria. The rules became effective on January 14, 2026. For sales representatives, the Division amended Rule 51-4.3 to adopt the Financial Industry Regulatory Authority's (FINRA) Maintaining Qualifications Program (MQP). Under this program, eligible sales representatives who terminate their representative or principal registrations with FINRA member broker dealers may maintain their licence qualifications by completing annual continuing education (CE). Participants have a maximum of five years to reregister with a FINRA member firm. To qualify, individuals must have been registered in the terminated registration category for at least one year immediately prior to termination and must elect to participate within two years of termination. For investment adviser representatives, the Division adopted Rule 51-4.4.2(IA) to incorporate the North American Securities Administrators Association's (NASAA) Exam Validity Extension Program (EVEP). This program extends the validity of Series 65 and Series 66 qualification exams for up to five years. IARs must opt into the program, pay an annual fee, and maintain CE requirements. The rule does not apply to the Series 63 examination as it is not required for sales representative licences with FINRA member broker dealers in Colorado. IAR EVEP participants must have been licensed as an IAR for at least one year preceding licence termination and must elect to participate within two years of termination. For further information, contact the Colorado Division of Securities at 303-894-2320 or Dora_SecuritiesWebsite@state.co.us.

Industry Alert: Colorado Division of Securities Adopts Rules to Extend Validity of Licensing Exams for Sales Representatives and Investment Adviser Representatives | DORA - Division of Securities

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