New Requirements for Certain Broker-Dealer Operations Personnel on the Horizon

April 2011

 

In response to the growing complexity of the financial services industry on March 14, 2011 the Financial Industry Regulatory Authority, Inc. (“FINRA”) filed with the Securities and Exchange Commission (“SEC”) a proposed rule change to adopt FINRA Rule 1230(b)(6) to create a new registration category for operational personnel. The new registration category, which would require a qualifying examination and continuing education requirements, is aimed to address potential regulatory gaps for individuals responsible for performing or overseeing a broker-dealer’s operational functions.

 

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