NASD Notice to Members 02-70 - October 2002

Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory

Executive Summary

The Securities Industry/Regulatory Council on Continuing Education (Council) has issued the annual Firm Element Advisory, a guide for firms to use when developing their continuing education Firm Element training plans. The attached Firm Element Advisory lists topics that the Council considers to be particularly relevant to the industry at this time. The list is based on a review of recent regulatory events, as well as advisories issued by self-regulatory organizations (SROs) since the last Firm Element Advisory of November 2001. Firms should review the training topics listed in the Firm Element Advisory in conjunction with their annual Firm Element Needs Analysis in which firms identify training issues to be addressed by their written Firm Element training plan(s).

 

Also, please note that the Council has two additional resources available on its Web Site to assist firms with Firm Element requirements. The first is the Firm Element Organizer, an easy-to-use software application in which the user identifies specific investment products or services and selects training topics from a defined list. The Firm Element Organizer then searches an extensive database of training resources like those listed in the Firm Element Advisory, and provides a report of relevant resources. The report can then be edited into a Firm Element training plan using a word processing program. A tutorial on the Web Site demonstrates this process. The second Firm Element resource comprises scenarios taken from the Regulatory Element computer-based training that may be suitable for Firm Element training. For more information, to use the Firm Element Organizer, or to order Regulatory Element scenarios, log on to www.securitiescep.com.

 

Questions concerning this Notice may be directed to John Linnehan, Director, NASD Continuing Education, at (240) 386-4684.