annual training

Annual Training Considerations for Broker/Dealers

It’s 2020 and as the new year rolls in, so does annual training planning. Rule 3110(a)(7) requires each Registered Person to participate, at least annually, in an interview or meeting which discusses compliance matters relevant to their activities. The goal is to discuss compliance issues to remain current on applicable regulatory developments and/or implement changes in Firm policies. Your Firm’s training program is not only a regulatory requirement. Building an effective training program also protects the Firm against litigation risk.

Read More…

Firm Element Advisory Posted

FINRA Rule 1250(b) discusses FINRA’s Firm Element continuing education requirements.  Firm Element continuing education requirements apply to “covered persons”, which is defined as registered persons – including salespeople, traders, sales assistants, investment company shareholder servicing agents, investment bankers, and others who have direct contact with public customers in the conduct of a securities sales, trading, or investment banking business – and their immediate supervisors. The term “customer” in the definition of covered persons includes retail, institutional, and investment banking customers, but does not apply to other broker-dealers. Member firms are required to analyze and evaluate their training needs in light of the firm’s size, organizational structure, scope of business, and types of products and services offered, as well as regulatory developments and the performance of its registered persons pursuant to the Regulatory Element of FINRA Rule 1250(a).

Read More…

2016 Broker-Dealer Training Considerations

Annual broker-dealer training should be derived from relevant regulatory and/or industry focus areas. It is important to consider the current “hot topics” and implement appropriate training regarding the areas that would best mitigate risk when performing needs analysis and developing an annual broker-dealer training plan. Read More…