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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The Securities and Exchange Commission last week approved the Financial Industry Regulatory Authority’s plan to revamp the securities industry’s licensing process and exams.  In order to keep pace with regulatory and industry changes, the approved rule creates a two-tiered examination process.  This will reduce redundancy in the exam process and minimize regulatory impact while still […]

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A successful approach to preparing for your FINRA exam is often a two-pronged strategy.  You certainly need to study and know the content being tested (our study programs see to that!).  Oftentimes, however, that is not enough; you also need to beat the test.  You likely have anxiety over some of the extracurricular aspects of taking the […]

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New Consolidated Rule for Personal Trading Accounts April 3, 2017, is the effective date of FINRA’s new consolidated Rule 3210, Accounts at Other Broker/Dealers and Financial Institutions. This rule consolidation replaces NASD Rule 3050 and incorporates NYSE Rules 407 and 407A as well as NYSE Rule Interpretations 407/01 and 407/02. When an associated person of […]

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Effective December 15, 2016, a revision of FINRA Rule 5210 (Publication of Transactions and Quotations) goes into effect, further defining prohibited actions related to disruptive quoting and trading.  FINRA Rule 5210 was designed to prevent the manipulative or fraudulent publication of any quotation or execution of trades unless the member firm believes the quote or […]

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