DPP Designation


The Direct Participation Professional (DPP) designation is designed to elevate professional standards, enhance individual performance, and recognize securities industry professionals in the securities industry who demonstrate the relevant knowledge of direct participation programs.

Eligibility Requirements
A candidate for the DPP designation must attest to meeting the following requirements:

Professional Experience
Candidate must attest to being, for a minimum of two (2) years within the last five (5) years, either be:

  • Actively employed full-time by a qualifying company, or
  • Active full time as a qualifying Registered Representative, Investment Adviser Representative (IAR) or an Registered Investment Adviser (RIA)


Education

Candidate must attest to meeting one of the following requirements:

  • Hold a U.S. Bachelor's degree or the equivalent
  • Passed one or more of the following exams: FINRA/NASD Series 1, 7, 22 or 65

Code of Ethics and Professional Memberships
Candidate must attest to meeting all of the following requirements:

  • Be committed to upholding the REISA Code of Ethics
  • Be a current REISA member in good standing
  • Have no felony convictions
  • Must be in good standing with the Securities Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and any other securities industry authority to conduct business or practice within the securities industry

Professional Development
Candidate must complete a minimum of eight (8) hours of direct participation program or general best practices-related professional development and education.

  • Two (2) credits of the eight credits must be obtained through completion of the following core courses offered by REISA (at the REISA Annual Conference, Spring Symposium, or other REISA events and online):
    • Best Practices in Direct Participation Programs (1 DPP credit)
    • Fundamentals of Direct Participation Programs (1 DPP credit)
  • The remaining six (6) credits must be obtained at qualifying sessions
  • All credits must be earned within an eighteen (18) month timeframe

Examination
Candidate must pass a REISA conducted exam, with a minimum score of 70%, which tests for general knowledge of direct participation programs. Examination questions may include, but are not limited to:

  • Industry best practices
  • Direct participation programs
  • FINRA issues regarding direct participation program compliance
  • Knowledge of constructing and deconstructing a direct participation program offering

Fees
The application fee is $199  and is nonrefundable once a candidate takes the examination. The application fee includes the cost to take the examination once. Subsequent examinations are subject to a $25 retesting fee.


Application
Candidates will submit their applications online, and upon verifying eligibility, may take the exam online within 30 days. The DPP exam is administered via the REISA website at reisa.org.

Submit Application

To get started on your DPP, apply now.

Renewal Requirements
Designation renewal is required every year. Renewal application with payment is due no later than ninety (90) days after designation expiration.

As outlined below, the renewal application verifies:

  • Ongoing adherence to professional conduct requirements

  • Completion of continuing professional development and education, which includes:

  • Four (4) hours of direct participation program or general best practices related professional development. A minimum of two (2) of the four (4) hours must be obtained at qualifying sessions at REISA conferences2. Education and development modules designed to supplement conference content will be provided online.

Renewal Fees
For each year, there will be a fee to renew the designation. Currently, the renewal fee is $99 for members and $299 for nonmembers. However, this fee is subject to change without notice. All fees must be paid when the renewal form is submitted.

Inactive Status
Inactive Status is available to those with the DPP designation who do not meet the renewal requirements, but who do not wish to permanently lose their certification status. Inactive status provides those with the DPP designation with up to a twelve (12) month period, to meet the renewal requirements. While an individual’s status is inactive, the DPP designation MAY NOT be used or marketed. To apply for inactive status, designees must complete the appropriate form and pay the inactive status fee of $25. Applications must be received prior to the end of the designation period for the request to be honored.

Reactivation
The DPP designation may be reactivated at any time during the inactive period as long as the renewal requirements are met. Reactivation will be approved by meeting the renewal requirements as defined by REISA at that time, including payment of appropriate fees.

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