FINRA Proposes Registration, Qualification and Continuing Education Requirements for Certain Member Firm Operations Personnel

more+
less-

The Financial Industry Regulatory Authority is seeking comments on a proposal to require registration of certain individuals of a member firm who perform and oversee member operations functions. Accordingly, FINRA is proposing to adopt a new representative registration category and qualification examination for "Operations Professionals," which generally would include those persons who are engaged in, responsible for or supervising certain member operations functions specified in the proposed rule, such as activities relating to client account data, maintenance of funds, account management and stock loan and securities lending. Any person required to register as an Operations Professional (subject to certain exceptions) would be required to pass a new Operations Professional qualification examination, a principles-based exam with a regulatory focus to test, among other things, the person's understanding of his professional responsibilities, before such registration may become effective.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Katten Muchin Rosenman LLP | Attorney Advertising

Written by:

more+
less-

Katten Muchin Rosenman LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×