December 2, 2004

Increased fee for the Series 3 examination takes effect January 1, 2005

NFA would like to remind its Members that the National Association of Securities Dealers (NASD) will increase the fee for the Series 3 examination to $90 effective January 1, 2005. Individuals who register for the examination prior to January 1 will be charged the current $75 fee. Those registering on or after January 1 will be charged $90.

Additional information on testing fees as well as a list of testing locations can be found at www.nasd.com.