Regulatory Notice 10-25

FINRA Requests Comment on Proposed Registration Category, Qualification Examination and Continuing Education Requirements for Operations Professionals; Comment Period Expires: July 12, 2010

Executive Summary

FINRA requests comment on a proposal to establish a registration category, qualification examination and continuing education requirements for certain operations personnel. The proposal would expand FINRA's registration requirements to include as qualified and registered persons certain individuals who are engaged in, or supervising, activities relating to sales and trading support and the handling of customer assets to enhance the regulatory structure surrounding a member firm's back-office operations. As further detailed in this Notice, the proposed Operations Professional registration category generally is aimed at capturing those persons with decision-making and/or oversight authority in direct furtherance of the covered operations functions. Persons required to register under this proposal also would be subject to FINRA's continuing education requirements.

 

The text of the proposed rules is set forth in Attachment A.

 

Questions regarding this Notice should be directed to:

 

• Joe McDonald, Director, Testing and Continuing Education Department, at (240) 386-5065; or
• Erika L. Lazar, Counsel, Office of General Counsel, at (202) 728-8013.