FINRA Makes Big Adjustments to CE Rules
November 23, 2021 by Melanie Waddell
The Financial Industry Regulatory Authority on Wednesday adopted changes to its continuing education (CE) and registration rules, which include, among other measures, requiring those registered with FINRA to complete continuing education requirements yearly instead of every three years.
As FINRA states in Regulatory Notice 21-41, the amendments to Rules 1210 and 1240: (1) provide eligible individuals who terminate any of their representative or principal registration categories the option of maintaining their qualification for any terminated registration categories by completing annual CE through a new program, the Maintaining Qualifications Program (MQP); (2) require registered persons to complete CE Regulatory Element annually for each representative or principal registration category that they hold; and (3) expressly allow firms to consider other required training toward satisfying an individual’s annual CE Firm Element and extend the Firm Element requirement to all registered persons.
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