Tags: FINRA

FINRA Launches Web-based Regulatory Element Program

FINRA is changing the Regulatory Element of Continuing Education (CE) Program to an online format called CE Online, which will allow registered persons to complete the CE sessions via the Web instead of at a testing center.

CE Online offers many benefits to firms and registered persons, including the flexibility to complete the program at a time and location that is convenient to the registered person, and without time restrictions. Because CE Online will not be timed, participants can complete their session all at once or pause the session as often as needed. In addition, participants will not need to take time away from the office or travel to a test center. Each CE Online session will cost $55, which will be billed to the firm’s CRD account when participants complete their session.  The 120 calendar-day enrollment window for completion of the Regulatory Element will not change and participants must complete the session by the required end date of his or her CE anniversary window.

CE Online will be rolled out in two phases:

  • On October 1, 2015, the S106 (Series 6 registered Investment Company Limited Representatives), the S201 (registered Supervisors/Principals), and the S901 (Series 99 registered Operations Professionals) Regulatory Element Programs will be available on the CE Online platform.

Through December 31, 2015, the S501 Proprietary Trader CE Program for those who have a S56 Proprietary Trader (PT) Registration will remain in its current format and will continue to be offered only at the testing centers. Those who need to fulfill their S501 CE requirement by December 31, 2015, must take their sessions at a testing center at a cost of $60 per session.

  • On January 4, 2016, the S101 Program for the (Series 7 General Securities registrants and a variety of other registrations) will migrate to the CE Online and will feature a restructured format that will include personalized content in the fourth module reflective of the function of those registrations: Trading, Investment Banking/Research, Institutional Sales, Retail Sales and Operations.

Pending approval by the SEC, the S55 Equity Trader (ET) Registration and the S56 Proprietary Trader Registration will be retired and replaced with the S57 Securities Trader (TD) Registration beginning January 4, 2016. Persons holding the PT and/or ET Registrations will automatically receive the TD registration.  The S501 CE Program will be retired and those individuals with a TD registration will be required to take the S101 CE Program and select Trading as the fourth module.

See more information on the TD Registration at http://www.finra.org/industry/ce-online-proprietary-traders.

For more information about CE Online please see FINRA Regulatory Notice 15-28 or visit the CE Online page.

FINRA Registration of Associated Persons Who Develop Algorithmic Trading Strategies

Regulatory Notice

Registration of Associated Persons Who Develop Algorithmic Trading Strategies

FINRA Requests Comment on a Proposal to Require Registration of Associated Persons Involved in the Design, Development or Significant Modification of Algorithmic Trading Strategies

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