October 1, 2018, marks the day that FINRA will begin to administer the newly revised qualification process where candidates will need to pass a Securities Industry Essentials (SIE) exam before taking a condensed version of the Series 6 or Series 7, known as Top-Off, or Specialized Knowledge Exams (SKE). Currently, only candidates who are sponsored […]

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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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BSA Back in the Regulatory Focus Today’s geopolitical climate has caused more focus on money laundering activity related to illegal drug trafficking and terrorist financing. Consequently, regulators place higher priority on enforcing the Bank Secrecy Act (BSA), which mandates financial industry standards to detect and prevent money laundering. Therefore, examiners across the financial services industry […]

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