What happens if I do not have my SIE passed by my firms "recommended" date?

So I am an incoming 1st year in NYC starting training July 11. My firm sent us shit saying we are "reccomedned" to have the SIE passed by june 1st, but it is fine if we don't have it by training. I am gonna reach out to HR, but has anyone been in the situation where they delayed it a lot?

Reason I ask is I want to travel europe and do a bunch of cool shit for the last 2 months I have

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