Checked 29 September 2026. High. The shorter waits become live on a date FINRA will announce in a Regulatory Notice; none had been issued by 29 Sep 2026 (index checked through RN 26-16). Check FINRA's notices before you plan around 15 or 60 days.
If you fail the SIE, FINRA makes you wait before you can sit it again. The waits have been 30 days and 180 days since 1989, and in June 2026 FINRA changed its rulebook to 15 and 60. The catch is that the new numbers are not yet in force for candidates. FINRA's own weekly update, revised on 16 July 2026, says so plainly, and until FINRA publishes an implementation date the old waits apply. This guide sets out both rules, the two-year look-back that decides which wait you get, what FINRA's own data says about how people retake, and a calculator for your earliest date. ProSyllabus is an independent study site, not part of FINRA, NASAA or Prometric. Every rule here is quoted or summarised from FINRA's own pages, rule filings and the SIE content outline; FINRA, and for the NASAA exams the state regulators, decide every individual case.
SIE FAQ; Rule 1210.06; SR-FINRA-2026-014; FINRA weekly update, 1 Jul 2026 (revised 16 Jul).
Where other pages get this wrong
The 15-day wait is adopted but not yet in effect; the 30-day wait still applies.
Commonly published instead: Pages that say "FINRA cut the SIE retake wait to 15 days" as if it is live, and pages that still describe 180 days after every third failure for ever.
FINRA's weekly update says "the reduced waiting periods are not yet in effect for candidates. FINRA will announce the implementation date for the changes in a future regulatory notice. Until then, the current waiting periods remain unchanged." Separately, the long wait only applies when the failures fall within two years: SR-FINRA-2026-014 explains that "failed qualification examination attempts from more than two years ago are not included".
The two rules side by side
| After | Wait in force today (official) | Adopted wait, not yet in effect (official) |
|---|---|---|
| 1st failed attempt | 30 calendar days | 15 calendar days |
| 2nd failed attempt | 30 calendar days | 15 calendar days |
| 3rd failure in succession within two years | 180 calendar days | 60 calendar days |
| Each later failure within two years | 180 calendar days | 60 calendar days |
The waits run from "the date of such person's last attempt", in calendar days, so weekends and holidays count. They apply to non-associated SIE candidates too: Rule 1210.06 says individuals taking the SIE who are not associated persons "shall agree to be subject to the same waiting periods".
Where the change stands, date by date
| Date | Event | Source |
|---|---|---|
| April 2025 | Regulatory Notice 25-07 asks for comment on modernising FINRA rules; commenters on the topic ask for shorter or no retake waits | SR-FINRA-2026-014, footnote (official) |
| 14 July 2025 | Industry letters propose 15 days for the 30-day waits and 30 or 60 days for the 180-day wait | SR-FINRA-2026-014, footnote (official) |
| 29 June 2026 | FINRA files SR-FINRA-2026-014 with the SEC; effective on filing as a non-controversial change | Weekly update, filing (official) |
| 1 July 2026 | FINRA's weekly update announces the 15 and 60-day waits | Weekly update (official) |
| 16 July 2026 | Update wording revised: "not yet in effect for candidates"; SEC notice published at 91 FR 43678 (Release 34-105885) | Weekly update, Federal Register (official) |
| Now | Rule 1210.06 in the rulebook already reads 15 and 60 ("Amended by SR-FINRA-2026-014"), while the SIE FAQ still says 30 and 180 | Rulebook, SIE FAQ (official) |
| 29 September 2026 | No Regulatory Notice with an implementation date yet (index checked through RN 26-16) | FINRA notices index (official) |
So the rulebook and the FAQ disagree, and both are FINRA's. The weekly update resolves it: the rule text changed on filing, but candidates keep the old waits until FINRA names a date. FINRA also considered a 15-30-90 structure and chose 15-15-60. The change covers FINRA's own exams including the SIE; it does not change waits for the exams FINRA administers for NASAA (Series 63, 65, 66), the MSRB or the NFA, although FINRA says it has discussed harmonising them.
Which wait you get: the two-year look-back
The long wait is not a permanent penalty. The filing explains that for the 180-day calculation, failures "from more than two years ago are not included in determining the total number of times an individual has failed". The amended rule states it as failing "three or more times in succession within a two-year period". The SIE FAQ's shorter wording ("For any attempts after the third attempt, there is also a 180-day waiting period") leaves the two-year window out; read it together with the rule. A pass also resets the count in practice, because the TESS FAQ says you cannot enrol for an exam you passed within the last two years.
Earliest SIE retake date under today's rule
Enter the date of your last failed attempt and where that attempt fell in your run of failures. The tool shows the earliest date under the rule in force today, and, for comparison only, the date the adopted 15/60 rule would give if it applied to this failure. That second date is not an eligibility date: FINRA has not announced when the new waits start or how they treat a wait already running.
Our date arithmetic on Rule 1210.06 (calendar days from the last attempt). Current waits: 30 / 30 / 180 (SIE FAQ). Adopted waits: 15 / 15 / 60, "not yet in effect for candidates" until FINRA names a date in a Regulatory Notice. The TESS window start date already builds in the wait; a retake still needs a new enrolment and a new $100 fee.
Minimum days to each attempt, if every attempt fails
The table below is our arithmetic on the two rules, counting only the mandatory waits from the first attempt (day 0) and assuming each retake is taken on the first allowed day. Real calendars add booking lead time. FINRA's own filing states the key figure: for someone who fails three times in a row, the minimum wait before a fourth attempt "will fall by 150 days, to 90 days".
| Attempt | Earliest day, rule in force today (ours) | Earliest day, adopted rule (ours) |
|---|---|---|
| 2nd | Day 30 | Day 15 |
| 3rd | Day 60 | Day 30 |
| 4th | Day 240 | Day 90 |
| 5th | Day 420 | Day 150 |
What FINRA's data says about retakes
The filing includes the only recent SIE pass and retake figures FINRA has published, from candidates whose first attempt was in 2024. For the pass figure FINRA gives one line covering all three exams it studied (the SIE, Series 7 and Series 24): "Over 70 percent of individuals pass these qualification examinations on the first attempt". It gives no SIE-only pass rate there, and does not say how the figure was computed. The retake figures are given per exam.
| Measure (2024 first attempts) | SIE | Series 7 | Series 24 |
|---|---|---|---|
| Failers who took the exam a second time | 65% | 85% | 78% |
| Individuals making a second attempt as fast as allowed (30 to 34 days) | 23% | 21% | 14% |
| Of those taking it a second time: waited more than 60 days | 40% | 32% | 52% |
SR-FINRA-2026-014, economic impact assessment. FINRA states the 40% as a share of people who took the SIE a second time; it words the 23% as "individuals" making a second attempt within 30 to 34 days, without naming the base.
Two readings follow, both ours. First, about a third (35%) of SIE failers had not taken a second attempt in the data FINRA reported, more than for the Series 7, where a job usually depends on passing. Second, only 23% retook at the first opportunity, and 40% waited more than two months, so the shorter wait matters most to the minority in a hurry. FINRA itself warns that faster retakes may lead some candidates "to attempt to retake a qualification examination quickly without making necessary adjustments".
Failing the SIE does not block the Series 7
Waiting periods are per exam. The filing's own example: "if a person fails the SIE examination, he or she would not be required to wait 30 days to take the Series 7". Because the SIE and the representative exams are co-requisites that can be passed in either order, a sponsored candidate can sit the Series 7 during the SIE wait. For a self-enrolled candidate with no sponsor this does not help, since the Series 7 needs sponsorship.
How a retake actually works
The mechanics, from FINRA's pages
- A fail ends that enrolment. You re-enrol in TESS and pay the fee again ($100 in 2026).
- The new window's start date already builds in the wait: TESS says "the window start date takes into account these waiting periods".
- The window is again 120 calendar days. Cancelling or rescheduling 3 to 10 business days before the appointment costs $50; within two business days, or a no-show, forfeits the $100 fee and consumes a TESS enrolment, so you pay again.
- If FINRA approved extra time for Limited English Proficiency, it reapplies that time to later exams opened within five years of the approval, so you do not need to apply again.
- At the end of a failed session you see performance feedback, which is the best guide to what to study in the gap.
Sources: TESS FAQ, cancellation policy, LEP page, SIE page.
Using the gap well
Whichever rule applies when you fail, the gap is long enough to fix the weak area rather than re-read everything. Start from the performance feedback, map it to the four sections (44% products, 31% trading and accounts, 16% capital markets, 9% regulation), and study the sub-topics where you lost the most. FINRA's reason for waits in the first place was to push candidates to "learn more about the job functions ... rather than just focusing on the recently seen test questions"; its filing adds that exam banks now hold "thousands of questions", so memorising what you saw is unlikely to help. ProSyllabus has no SIE practice quizzes yet; FINRA's free practice test is linked from the SIE page.
How long do I have to wait to retake the SIE?
Today, 30 calendar days after a first or second failure and 180 days after a third failure in a row within two years. FINRA has adopted 15 and 60 days but says they are not yet in effect until it announces a date.
Is the 15-day SIE retake rule in effect?
Not yet for candidates. The rule was filed on 29 June 2026 and the rulebook shows the new text, but FINRA says the current waits apply until a future Regulatory Notice sets the implementation date. None had been issued by 29 September 2026.
Does the 180-day wait apply forever after three failures?
No. Only failures in succession within the last two years count toward it. Failures older than two years are not included.
If I fail the SIE, can I still take the Series 7?
Yes, if a firm sponsors you. Waiting periods apply to the specific exam failed, and the SIE and Series 7 can be passed in either order.
Do I pay again to retake the SIE?
Yes. You submit a new enrolment in TESS and pay the exam fee again, $100 in 2026.
Does the new rule change waits for the Series 63, 65 or 66?
No. The change covers FINRA qualification exams including the SIE, not the NASAA, MSRB or NFA exams FINRA administers. FINRA says it has discussed harmonising them.
How many people pass the SIE on the first try?
FINRA's only recent figure covers three exams in one line: over 70% of people who first sat the SIE, Series 7 or Series 24 in 2024 passed at the first attempt. It gives no SIE-only figure.
How many SIE failers retake it?
FINRA's 2024 data: 65% of those who failed the SIE took it a second time. FINRA says 23% of individuals made a second attempt as soon as allowed (30 to 34 days), and 40% of those taking it a second time waited more than 60 days.
When does the retake wait start?
From the date of your last attempt, in calendar days.
Sources
- official — FINRA — Weekly update of 1 July 2026, "FINRA Reduces Waiting Periods for Retaking Qualification Exams" (wording revised 16 July: not yet in effect)
- official — FINRA Rule 1210 — Registration Requirements (.03 SIE plus representative exam; .05 SIE Rules of Conduct; .06 waiting periods as amended by SR-FINRA-2026-014; .08 lapse and SIE expiry; military tolling)
- official — FINRA — SR-FINRA-2026-014, proposed rule change to reduce retake waiting periods, with 2024 pass and retake data (PDF)
- official — FINRA — SR-FINRA-2026-014 filing page
- official — SEC notice of filing and immediate effectiveness, Release No. 34-105885, 91 FR 43678 (16 July 2026) (PDF)
- official — FINRA — Regulatory Notices index (no implementation notice for the new waits through RN 26-16, checked 29 Sep 2026)
- official — FINRA — SIE Exam and Exam Restructuring FAQ (age, citizenship, SSN or mother's maiden name, co-requisite, scoring, waiting periods, validity, BrokerCheck and CRD)
- official — FINRA — Frequently Asked Questions about TESS (profile details, SSN or mother's maiden name, payment methods, no refunds, 120 calendar days, results within 72 hours)
- official — FINRA — Reschedule or Cancel Your Appointment (SIE: $50 within 3 to 10 business days, $100 within 2 business days or no-show; TESS enrolment consumed)
- official — FINRA — Candidates with Limited English Proficiency (30 extra minutes for exams up to 2 hours; web form for SIE takers)
- official — FINRA — Securities Industry Essentials (SIE) Exam page ("At a glance": 75 questions, 1 hour 45 minutes, passing score 70, cost $100; enrolment routes; exams taken after the SIE)
official = a document published by the conducting body. reported = a news or coaching site we could not check against an original. Where sources disagree this page says so rather than picking one.
