Licenses & Exams

Series 79 Sponsorship for Investment Banking Professionals

To advise on M&A transactions and capital raises in the U.S., you need a Series 79 registration from a FINRA member firm. Finalis sponsors that registration.

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What Is the Series 79?

The Series 79, formally known as the Investment Banking Representative Exam, is the FINRA qualification required for professionals who advise on or facilitate investment banking activities in the United States. That includes M&A transactions, capital raises, private placements, debt and equity offerings, restructurings, and tender offers.

Passing the Series 79, along with the co-requisite Securities Industry Essentials exam (SIE) qualifies you to register as an Investment Banking Representative under a FINRA member firm, as defined under FINRA Rule 1220(b)(5).

The exam is 75 scored questions, administered over 150 minutes, with a passing score of 73. Topics cover financial analysis and due diligence, underwriting and new financings, and M&A and restructuring mechanics.

For a full breakdown of exam structure, content areas, and preparation strategy, see our Series 79 exam guide.

See our Series 79 exam guide.See FINRA Rule 1220(b)(5).

Why You Need a Sponsor to Sit for the Series 79

Requires a member broker-dealer.

FINRA requires a member firm to file a Form U4 on your behalf before you can sit for the exam. That filing is the act of sponsorship. There is no self-sponsor option.

Your registration is tied to firm affiliation.

This is a deliberate regulatory structure. FINRA ties your license to employment with, or affiliation under, a member firm. Your registration is only active while you operate within that firm's supervisory framework.
If you leave, your registration terminates, with a two-year window to re-register before you'd need to requalify by exam.

Independent bankers need a broker-dealer partner.

Most boutique M&A advisors and independent investment bankers are not employed by a large bank. They need a broker-dealer who will sponsor their registration and maintain it over time. Affiliation with Finalis is how they solve that problem.

How Finalis Series 79 Sponsorship Works

When you become a member of Finalis, we handle your FINRA registration as part of onboarding. For professionals pursuing the Series 79, that means:

Form U4 Filing

Finalis files your Uniform Application for Securities Industry Registration with FINRA, formally opening your exam window. You cannot begin the scheduling process until this step is complete.

Exam Scheduling

Once your U4 is filed and approved, you register directly with FINRA to schedule your exam at a Prometric testing center. Finalis guides you through that process.

Ongoing Registration Maintenance

After you pass, your Series 79 registration is maintained through your Finalis membership. Continuing education requirements are tracked. If you transfer to a different firm, your registration transfers with you. Finalis does not warehouse inactive registrations.

Supervisory Framework

Your registration is backed by Finalis’ compliance and supervisory infrastructure. You operate under our FINRA-registered broker-dealer, which means your deal activity has appropriate oversight, which is a requirement for most institutional counterparties.

Who Finalis Series 79 Sponsorship Is Designed For

Finalis works with experienced finance professionals who want to operate independently, but need the regulatory infrastructure to do it correctly.

Independent M&A advisors working on transactions that fall outside the federal M&A Broker Exemption, including capital raises, securities offerings, larger private transactions, or deals in states without matching exemptive relief.

Investment banking professionals leaving larger firms who want to keep their Series 79 active and continue advising on transactions without anchoring to an institution.

Finance professionals moving into investment banking from related disciplines who need initial registration and sponsorship to get licensed.

International bankers entering the U.S. market who need FINRA registration to advise U.S. clients or work on U.S.-listed transactions.

Frequently asked questions

Does Finalis sponsor the Series 79 exam?

Yes. When you become a member of Finalis, we file your Form U4 with FINRA, which is the formal act of sponsoring your Series 79 registration. Without that filing, you cannot register for or sit for the exam.

What is Series 79 sponsorship?

Series 79 sponsorship is when a FINRA-registered broker-dealer files a Form U4 on behalf of a candidate, formally requesting that FINRA open an exam window for that individual. FINRA requires all candidates to be sponsored by a member firm before they can schedule the Series 79 exam. You cannot self-sponsor.

Do I need a broker-dealer to take the Series 79?

Yes. FINRA requires that a registered broker-dealer sponsor your registration before you can sit for the Series 79. The exam is tied to your affiliation with a FINRA member firm. Independent professionals who are not employed by a bank or broker-dealer must affiliate with a member firm to obtain sponsorship.

How long does Series 79 sponsorship take?

After Finalis files your Form U4, FINRA typically processes the application within a few business days. Once approved, you can schedule your exam at a Prometric testing center. The full timeline from starting your Finalis application to sitting for the exam varies by individual, but most members complete onboarding and scheduling within a few weeks.

Can I keep my Series 79 registration if I leave Finalis?

Your Series 79 qualification stays with you. If you move to another FINRA member firm, that firm files a new Form U4 to register you, and Finalis does not restrict or encumber the process. If you don't affiliate with a new firm right away, your qualification remains valid for two years before you would need to requalify by exam, or up to five years if you opt into FINRA's Maintaining Qualifications Program before your registration terminates.

Does Finalis sponsor Series 79 for international investment bankers?

Yes. Finalis works with international finance professionals who need FINRA registration to advise on U.S. transactions or work with U.S.-based clients. The Series 79 sponsorship process is the same regardless of where you are based, though the onboarding conversation will include a review of your specific practice and transaction focus.

What is the difference between Series 7 and Series 79 for investment banking?

The Series 7 is a general securities license covering a broad range of securities sales activities. The Series 79 is a specialist license covering investment banking activities specifically: M&A advisory, capital raises, debt and equity offerings, and restructurings. Most investment banking professionals who do not engage in retail securities sales use the Series 79, which has a narrower but more focused scope appropriate to their practice.

What exams do I need alongside the Series 79?

The Securities Industry Essentials (SIE) exam is a co-requisite for the Series 79. Both must be passed to complete your Investment Banking Representative registration under FINRA Rule 1220(b)(5). You can take them in either order, but both must be cleared before your registration is complete. Finalis will confirm which exams apply to your specific registration path during onboarding.

Start the Sponsorship Conversation

If you are ready to get your Series 79 sponsored, or if you are exploring what affiliation with Finalis looks like, the conversation starts with our team.

We review each application individually. There is no automated pipeline. A member of the Finalis team will respond shortly.

Speak with our team