Of that number three successfully qualified, Mr. Jim Trueland, CFA, formally of the Butterfield Asset Management, Chris Medeiros, Voyager Financial Group and Stuart Lacey, Emerald Financial.
The six hour multiple-choice exam is considered to be the benchmark for US market securities dealers.
It is the second time the Exchange has offered the exam in Bermuda, as BSX Corporate Communications Manager Joanne MacPhee explains, "Earlier this year the BSX was granted permission by the NASD & NYSE to sponsor Bermuda residents for the Series 7 exam and to hold the successful candidates' licenses until such time as they either join a NASD member firm and or leave Bermuda.
Further to receiving this accreditation the Exchange has taken it upon itself to organize regular Series 7 examinations in Bermuda. We have hosted two this year and if interest remains as high as it is now, we will host as many as four next year."
Mrs. MacPhee went on to say; "The BSX takes its leadership role in the local securities market very seriously and views this as an excellent opportunity to help raise industry standards."
Currently the pen and paper exams are proctored by a Washington DC based NASD examiner and the Exchnage meets expenses not covered by the registration fees. However, it is hoped that by mid-2001 the exam will be available to local residents electronically, thus making it possible to host them more regularly and at a reduced fee.
Plans are already underway to host another exam in February 2001 (a date of 25th February has been tentatively set) and the Exchange is in negotiations with popular guest lecturer Alvin Hall to organize another motivational seminar in January.