NASD Notice to Members 04-78 - October 2004

SEC Approves Amendments to Rule 1120 to Eliminate Exemptions from the Continuing Education Regulatory Element Requirements; Effective Date: Anticipated April 2005; Specific Date to be Announced in Future Notice to Members

Executive Summary

On September 27, 2004, the Securities and Exchange Commission (SEC) approved amendments to NASD Rule 1120 (Continuing Education Requirements) to eliminate all current exemptions from the continuing education Regulatory Element requirements. The text of the amendments is set forth in Attachment A. The amendments will become effective on the later of: (1) April 4, 2005; or (2) 30 days following the implementation of the necessary related changes to Web CRD(r). NASD will announce the specific effective date, which shall be on or after April 4, 2005, in a future Notice to Members.

 

Questions concerning this Notice may be directed to Ann M. Griffith, Associate Vice President and Director, NASD Testing and Continuing Education Department, at (240) 386-5051; Joe McDonald, Associate Director, NASD Testing and Continuing Education Department, at (240) 386-5065; or Patricia Albrecht, Assistant General Counsel, Office of General Counsel, Regulatory Policy and Oversight, at (202) 728-8026.