Regulatory Notice 10-25

FINRA Requests Comment on Proposed Registration Category, Qualification Examination and Continuing Education Requirements for Operations Professionals; Comment Period Expired: 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.



View Full Notice PDF 127 KB

The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments.

Comments By Date Received
RBC Wealth Management (PDF 16 KB) 5/26/2010
Brian Marcotte (PDF 17 KB) 5/26/2010
Navidar Group (PDF 19 KB) 5/27/2010
M. Griffith Investment Services (PDF 32 KB) 5/28/2010
Doug Schriner (PDF 13 KB) 6/2/2010
Transcend Capital (PDF 54 KB) 6/18/2010
Zelman Partners LLC (PDF 29 KB) 6/24/2010
RiverStone Wealth Management, Inc. (PDF 18 KB) 6/24/2010
Martin Nelson & Co., Inc. (PDF 14 KB) 6/24/2010
United Planners Financial Services (PDF 32 KB) 6/30/2010
Arnold & Porter LLP (PDF 378 KB) 7/1/2010
Mutual Trust Co. Of America Securities (PDF 28 KB) 7/8/2010
MWA Financial Services Inc. (PDF 368 KB) 7/8/2010
Horace Mann Investors, Inc. (PDF 78 KB) 7/8/2010
American Investors Company (PDF 32 KB) 7/9/2010
Regional Municipal Operations Association (PDF 25 KB) 7/9/2010
NPB Financial Group, LLC (PDF 20 KB) 7/9/2010
NFP Securities, Inc (PDF 188 KB) 7/12/2010
Equity Services Incorporated (PDF 76 KB) 7/13/2010
Freestone Capital Management LLC (PDF 24 KB) 7/16/2010
Northwestern Mutual Investment Services LLC (PDF 877 KB) 7/26/2010
Wellington Shields & Co. LLC (PDF 75 KB) 7/26/2010
Wall Street Financial Group Inc (PDF 96 KB) 7/27/2010
T. Rowe Price Investment Services, Inc. (PDF 706 KB) 7/28/2010
Quasar Distributors, LLC (PDF 429 KB) 7/28/2010
FirstBank Puerto Rico Securities Corp (PDF 15 KB) 7/28/2010
Nationwide (PDF 55 KB) 7/28/2010
Wells Fargo Advisors (PDF 138 KB) 7/28/2010
CISI (PDF 1,077 KB) 7/29/2010
Rockfleet Financial Services, Inc. (PDF 53 KB) 7/29/2010
Great National Investment Corporation (PDF 31 KB) 7/29/2010
Morgan Stanley (PDF 605 KB) 7/29/2010
TIAA-CREF (PDF 661 KB) 7/30/2010
NSCP (PDF 59 KB) 7/30/2010
Financial Services Institute (PDF 124 KB) 7/30/2010
Crowell, Weedon & Co. (PDF 75 KB) 7/30/2010
Bank of America (PDF 1.24 KB) 7/30/2010
ARM (PDF 40 KB) 7/30/2010
Investment Program Association (PDF 1.09 KB) 7/30/2010
SIFMA (PDF 63 KB) 7/30/2010
Insured Retirement Institute (PDF 1,146 KB) 7/30/2010
NASAA (PDF 132 KB) 7/30/2010
Commonwealth Financial Network (PDF 84 KB) 7/30/2010
Sutherland Asbill& Brennan LLP (PDF 3,869 KB) 7/30/2010
Pacific Select Distributor (PDF 78 KB) 7/30/2010
Pershing (PDF 168 KB) 7/30/2010
Charles Schwab (PDF 249 KB) 7/30/2010
ACLI (PDF 85 KB) 7/30/2010
Scottrade, Inc. (PDF 279 KB) 8/2/2010