All FINRA member firms are examined periodically by dedicated District examiners. Firms are on either a 1-year, 2-year or 4-year cycle, depending on their net capital requirements. Most small introducing firms are on a 4-year exam cycle. Recent 4-year exams have been characterized as lengthier and more comprehensive than previous exams, given the large number of regulatory changes within the past few years. Solid preparation is a key to success.
