CRCP Scholarship Program FAQ
- CRCP Scholarship Overview
- Scholarship Application
- Scholarship Selection and Notification
What is the FINRA Institute at Wharton CRCP program?
The FINRA Institute at Wharton Certified Regulatory and Compliance Professional (CRCP) program is an executive education program for compliance, legal and regulatory professionals delivered in partnership by FINRA and the Wharton School at the University of Pennsylvania. During the program—which takes place over two non-consecutive weeks on the Wharton campus—participants gain an in-depth understanding of the foundation, theory and practical application of securities laws and regulation, and at the conclusion of the program, earn the CRCP designation. Additional program details are available on the FINRA Institute at Wharton page.
Where can I learn more about the FINRA Institute at Wharton?
More information about the CRCP program is available on the FINRA Institute at Wharton page.
Who is the CRCP program designed for?
The CRCP program is designed for experienced compliance professionals on a leadership track; high-potential regulatory, legal and compliance staff; business-line professionals with increasing compliance responsibilities; and experienced state and federal regulators.
Why did FINRA create a CRCP Scholarship?
FINRA developed the CRCP Scholarship to facilitate participation from small firms for whom the cost of the program may be prohibitive.
How many CRCP Scholarships will be awarded?
FINRA offers three small firm scholarships every year.
Who is eligible to apply for the CRCP Scholarship?
You are eligible to apply for the CRCP Scholarship if you meet the following criteria:
- hold a FINRA registration with a FINRA member firm that has 150 or fewer registered representatives;
- have your supervisor's support to apply for a scholarship and can commit the time required to complete the program; and
- perform job functions that include compliance and/or regulatory responsibilities.
Can a firm nominate an employee to receive a scholarship?
Each individual should send in his or her own CRCP Scholarship application. However, principals or supervisors at FINRA small firms—those firms with 150 registered representatives or less—should encourage highly motivated individuals at their firms who meet the criteria to apply for a scholarship.
What is included in the CRCP Scholarship?
Full tuition for the entire program, including room and board at Wharton, is included in the scholarship. Travel and all other lodging expenses are the responsibility of the recipient.
Who can I contact if I need more information or have questions about the CRCP Scholarship?
For additional information, please call FINRA at (301) 590-6500 or send us an email.
How do I apply?
To apply, download and complete the application and then email it to firstname.lastname@example.org in a MS Word format (.doc or docx). If you are unable to email the application, or if you have additional questions or comments, please call FINRA at (301) 590-6500 or send us an email.
What is the application deadline?
The 2014 CRCP Scholarship application period closed on Friday, October 10, 2014. The next application period will begin in August 2015.
How will my application be evaluated?
A subcommittee of the FINRA Small Firm Advisory Board (SFAB) will choose scholarship recipients through blind selection. This means the subcommittee will not have access to identifying information for example; your name, the name of your firm, or your location.
The subcommittee will consider your experience in the financial services industry, as well as your compliance responsibilities in the overall structure of the firm, as described through your brief statement as part of the application.
Does my supervisor have to approve my CRCP Scholarship application?
Yes. Your supervisor must support your participation in the scholarship program and the time commitments required to complete the program.
Will my supervisor be contacted during the selection process?
Under certain circumstances, the subcommittee may contact your supervisor to confirm that they support the time commitment needed to complete the program.
If I applied this year, when will I learn whether I have been selected to receive a scholarship?
All applicants will receive notification of the disposition of their applications by December 5, 2014.
If I did not receive a scholarship this year, can I reapply next year?
Yes. Information on next year's application timeline will be posted to the CRCP Program Scholarship Web page.
Will I lose the CRCP Scholarship if I leave the firm I was registered with when I submitted my application?
Yes. Scholarships are awarded to the individual and firm and are not transferable. If you leave the firm for any reason and move to another small firm, you must reapply during the next scholarship selection period.
May I complete the CRCP program at my own pace?
Scholarship recipients must complete the program in two years. For example this year’s recipients will complete Week I in 2015 and Week II in 2016.