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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