February 12, 2018 – FINRA released its revised representative level qualification exam outlines, which have been referred to as Specialized Knowledge Exams (SKEs) or Top-Off Exams under FINRA’s new testing procedures. As of October 1, 2018, FINRA will require new registrants to take a Securities Industry Essentials (SIE) exam followed by an appropriate SKE. While […]

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FINRA’s transition from the current licensing exam requirements to the Securities Industry Essentials (SIE) and Specialized Knowledge Exam (SKE) raises many questions for candidates who will be testing this fall.  This discussion clarifies requirements during the coming transition period. How Do I Know Which Exam to Take? The date on which a candidate files their […]

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FINRA is radically restructuring its representative-level qualification exam program beginning October 1, 2018. Here’s what you can expect:   How is FINRA changing its qualifying exam program? Beginning October 1, 2018, all new representative-level applicants must take: General knowledge examination called the Securities Industry Essentials (SIE) Specialized knowledge examination (a revised representative-level qualification examination) for […]

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FINRA has delayed rollout of the new Securities Industry Essentials Examination (SIE) until October 1st, 2018. The new SIE will allow candidates to sit for a core qualification exam without sponsorship from a FINRA member firm.  (Presently, candidates must be sponsored by a FINRA member broker/dealer to sit for the Series 6 or Series 7.)  After […]

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FINRA Updates (Fixes?) Its Definition of Nonpublic Arbitrator… and Pulls Talent from the Bench! The SEC has approved FINRA’s proposed amendments to the definition of nonpublic arbitrator contained in FINRA’s Code of Arbitration Procedure. Back in 2015, FINRA tinkered with the definition of nonpublic arbitrator, which essentially knocked hundreds of qualified individuals out of the […]

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FinCEN’s Venezuela Advisory and FATF’s Updated Jurisdiction Documents On September 20, 2017, FinCEN published Advisory FIN-2017-A006 to financial institutions about potential abuse of the U.S. financial systems by all Venezuelan government agencies and bodies, including state-owned enterprises (SOEs). The Venezuelan government uses its control over large parts of its socialist economy to generate considerable wealth […]

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FinCEN Advisory to Financial Institutions on Political Corruption Risks from South Sudan FinCEN has publish an advisory to alert financial institutions about the potential abuse of the U.S. financial systems by senior political figures from South Sudan. The U.S. Department of State has been documenting the civil unrest with the warring parties who have failed to […]

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