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SIP Credential  
Program Description
SIP Online Application
SIP Credential Requirements
SIP Grandfathering Requirements
SIP Test-Out Option
SIP Program Fees
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Recommendation Letter Templates

SIP E-Courses  

For descriptions of these courses and additional eLearning courses offered by SOF, click on the courses below or go to the eLearning page.
SIP Level I
  US Corporate Actions Introduction
  US Securities Industry Basics
  US Corporate Actions Types
  US Brokerage Processing
  US Custody Processing
  Ethical and Professional Standards
  US Instruments - Equities
  US Instruments – Fixed Income
  US Investment Management Processing
  US Regulators and Legislation
  US Trading
SIP Level II
  US Corporate Actions Processing
  US Mutual Funds Introduction
  Foreign Currency Processing
  Global Industry Standards
  International Markets and Instruments
  International Securities Processing
  Global Custody Processing
  International Corporate Actions Introduction
  International Corporate Actions Types
  International Corporate Actions Processing
  Operations Risk and Compliance
SIP Level III
  Internet and Technology
  Portfolio Management
  US Corporate Trust
  US Listed Equity Options
  US Instruments - Structured Securities
  US Margin Lending and Processing
  US Institutional Trust
  US Instruments - Derivatives
  US Mutual Fund Processing
  US Securities Lending
  Valuation and Investment Theory

Grandfathering Requirements

The SIP Program recognizes that some people have already attained the equivalent knowledge required for a specific Credential Level as a result of many years of experience in the industry, and that course attendance is not required to recognize these skills. Accordingly, the program has an initial grandfathering period where professionals can be recognized based on adequate documentation of their experience and ability, along with successful completion of the Credential Exam for each level. The exams are the same as the exams required of all non-grandfathered SIP Credential candidates.

There is a one-time grandfathering period for each level, ending as shown:

Level

Deadline

Level I

March 31, 2005 -- CLOSED

Level II

December 31 , 2006

Level III

December 31, 2007

There are four requirements for grandfathering. These requirements are cumulative. You must complete each level before qualifying for the next level.

Level

Application & Fee

Minimum Experience

Recommendations

Credential Exam

I

Yes

Three years relevant experience

Basic recommendation

Recommendation
for Level I grandfathering

Level I
Certificate Exam
(Available 9/30/04)

II

Yes

Two additional years of experience

Recommendation
for Level II grandfathering

Level II Certificate Exam
(Available 12/31/04)

III

Yes

Two additional years of experience

Recommendation
for Level III grandfathering

Level III SIP Credential Exam
(Available 3/31/05)

Credential Exam

Candidates for the Grandfathering provision will be allowed to take the exam for each Credential Level twice for the single fee. The first time will not be counted if it is not passed. If the candidate takes the exam more than twice, the re-testing fee will apply. If the candidate fails the exam a third time, he/she will be ineligible for the grandfathering alternative and must take the courses.

Once grandfathered for any level, individuals will be required to maintain the same Continuing Education requirements as those who have completed that Credential Level.

 

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