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ARTICLE · 05 OCTOBER 2018

FINRA Issues New FAQs On Individual Qualification And Registration Requirements

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FINRA issued frequently asked questions ("FAQs") on the individual qualification and registration requirements in FINRA Rules 1210 through 1240.

United StatesFinance and Banking
Mark Highman
Mark Highman
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FINRA issued frequently asked questions ("FAQs") on the individual qualification and registration requirements in FINRA Rules 1210 through 1240. The rules, which come into effect on October 1, 2018, will, among other things:

  • allow for the permissive registration of personnel associated with a broker-dealer, or with a foreign securities affiliate of a broker-dealer;
  • institute a qualification waiver program for individuals working for a financial services affiliate of a broker-dealer;
  • require broker-dealers to designate a Principal Financial Officer and a Principal Operations Officer; and
  • permit certain broker-dealer personnel to act as principals for a limited period before passing the relevant principal qualification examination.

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