Beginning in November, investment bankers will be required to pass a new FINRA test.
According to the regulatory authority, the “Series 79” examination “qualifies an individual to advise on or facilitate debt or equity offerings through a private placement or public offering or to advise or facilitate mergers or acquisitions, tender offers, financial restructurings, asset sales, divestitures or other corporate reorganizations or business combination transactions.”
It’s a five hour test with 175 multiple choice questions. But we think it could probably have just one question: “Can you distinguish between right and wrong?”
Based on Wall Street’s recent shenanigans, any answer is acceptable. And it would probably still take an investment banker five hours to complete.
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