Series 86 Exemption
In February 2005, the U.S. Securities and Exchange Commission recognized levels 1 and 2 of the CMT exam as an alternative to the Series 86 Examination, as part of the rule changes filed by the North American Securities Dealers Regulation, now known as Financial Industry Regulatory Authority (FINRA) and NYSE. This recognition on the part of securities regulators and the self-governing bodies of the securities industry provided significant new credibility to technical analysis.
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