Notice To Members 95-86

NASD Reminds Members About Continuing Education Program Regulatory Element

Published Date:

SUGGESTED ROUTING

Senior Management
Legal & Compliance
Registration
Training

Executive Summary

The NASD® reminds members that registered persons who do not satisfy their Regulatory Element computer-based training requirement within the 120-calendar-day period beginning on the second, fifth, or tenth anniversary of their initial securities registration or of the date of a serious disciplinary action (see below) may not perform, nor be paid for, any activity that requires a securities registration.

In June, the Central Registration Depositary (CRDSM) sent 8, 132 registered persons Continuing Education Advisory Messages notifying them of their obligation to satisfy a Continuing Education Program Regulatory Element computer-based training requirement. Their obligation began on a date beginning in July and ending 120 calendar days later. As of September 15, most (4,224, or 52 percent) of this group have not made arrangements to satisfy their requirement.

A notified registered person satisfies the Regulatory Element computer-based training requirement by making an appointment at any NASD PROCTOR® Certification Testing Center and completing a Regulatory Element training session. Because the number of registered persons with Regulatory Element computer-based training obligations grows each day, the NASD is concerned that those who wait until the last minute may have difficulty scheduling an appointment at a PROCTOR Center, have their 120-day window close, and will find themselves with an inactive registration until they can complete their training.

Members are urged to encourage all employees with Regulatory Element requirements, and especially those with requirements expiring in the next 30 days, to make their appointments at a PROCTOR Center as soon as possible. The NASD has 55 fixed-site PROCTOR Centers and a remote site delivery capability (PROCTOR PRO) with an established schedule of dates and locations through December 1995. A listing of the fixed-site PROCTOR Centers and the schedule of the mobile PROCTOR PRO for 1995 are included with this Notice.

Background

On February 8, 1995, the Securities and Exchange Commission (SEC) approved a new Part XII to Schedule C of the By-Laws prescribing requirements for the continuing education of certain registered persons subsequent to their initial qualification and registration with the NASD.

The Regulatory Element of the Continuing Education Program requires that every person registered for 10 years or less who is covered by the Regulatory Element will be required to satisfy the requirement within 120 calendar days after the second, fifth, and tenth anniversaries of their initial securities registration. Also covered are those who have been registered more than 10 years and who have been the subject of a serious disciplinary action (suspension, bar, fine of $5,000 or more, or a statutory disqualification) during the most recent 10 years.

Since July 1, 1995, individuals have been phased into the Regulatory Element daily, based on their anniversaries as explained above. The CRD notifies registered individuals of their Regulatory Element obligation by sending a Continuing Education Program Advisory Message to their firm 30 days in advance of their anniversary date. The Advisory Message specifies the Begin Date (the anniversary date) and the End Date (120 calendar days later) of the period during which the person must satisfy the Regulatory Element requirement. For example, persons registered in July 1990 received Advisory Messages in June advising that they are required to satisfy the Regulatory Element within a 120-calendar-day period beginning on their fifth anniversary in July and ending in late October or November, as the case may be.

Continuing Education Information

Several publications are available that explain the Continuing Education Program. Special Notice to Members 95-13 (March 8, 1995) has the actual rule language, which is Part XII of Schedule C of the NASD By-Laws, and three other reference sections:

  • Status Report On The Securities Industry Continuing Education Program, including a questions and answers section to help member firms understand the Program;

  • Content Outline For The Regulatory Element, which specifies the subject areas covered in the Regulatory Element computer-based training; and

  • Guidelines For Firm Element Training, which provide firms with a common approach for developing and implementing a firm-specific training program that meets the needs of all types and sizes of firms.

The Continuing Education Program For Securities Professionals, a pamphlet available at cost ($.35), describes the Continuing Education Program to registered persons through a series of questions and answers about the Program. Many firms send this pamphlet to their employees who are notified that they must take the Regulatory Element computer-based training.

Notice to Members 95-35 (May 1995) has an update on the Continuing Education Program and 38 questions and answers about the Regulatory Element specifically.

Membership On Your Side, Volume 4, Number 2 (July 1995), has an overview of the Continuing Education Program and examples of the CRD Reports (Continuing Education Program Advisory Messages) sent to firms.

To order copies of any of these publications call NASD MediaSourceSM at (301) 590–6578. Questions about this Notice may be directed to John Linnehan, Director of Continuing Education, at (301)-208–2932, or your Quality & Service Team at:

Quality & Service Team 1 (301)921–9499

Quality & Service Team 2 (301)921–9444

Quality & Service Team 3 (301) 921–9445

Quality & Service Team 4 (301) 921–6664

Quality & Service Team 5 (301)921–6665

Firms uncertain as to which Quality & Service Team is assigned to work with them can call the NASD Member Services Phone Center at (301) 590–6500.

NASD PROCTOR Centers

Below is a listing, as of October 1, 1995, of the fixed-site PROCTOR Centers, as well as the schedule of the mobile PROCTOR PRO facilities through the balance of 1995. Phone the individual PROCTOR Center to schedule a computer-based training session appointment. To schedule an appointment with PROCTOR PRO please phone (800) 999–6647 and select option 1 at the voice prompt.

Holiday Schedule

Jan. 2 New Year's Day
Feb. 20 Washington's Birthday
Apr. 14 Good Friday
May 29 Memorial Day
July 4 Independence Day
Sept. 4 Labor Day
Nov. 23 Thanksgiving Day
Dec. 25 Christmas Day

Alabama

Birmingham Metro. Area
PROCTOR Certification Testing
Lakeshore Park Plaza
2204 Lakeshore Drive
Suite 305
Birmingham, AL 35209
(205) 870–1643
Hours: 8:00–1:00 (M,T,Th,Fr)
8:00–3:30 (W)
Delivery Stations: 5

Arizona

Phoenix Metro. Area
PROCTOR Certification Testing
1717 W. Northern Avenue
Park North II Building
Suite 117
Phoenix, AZ 85021
(602) 870–7522
Hours: 9:00–4:30 (M-F)
Delivery Stations: 11

Arkansas

Little Rock Metro. Area
PROCTOR Certification Testing
11219 Financial Ctr. Pkwy
Suite 311
Little Rock, AR 72211–2859
(501)224–5781
Hours: 8:30–4:00 (M,F); 8:30–2:00
(T.Th)
8:30–1:00 (W)
Delivery Stations: 4

California

Los Angeles Metro. Area
PROCTOR Certification Testing
Koll Center
1920 Main Street,
Suite 230
Irvine, CA 92714
(714) 757–7530
Hours: 8:00–4:00 (M-F)
Delivery Stations: 20

Los Angeles Metro. Area
PROCTOR Certification Testing
701 N. Brand Blvd.,
Suite 340
Glendale, CA 91203
(818)545–7383
Delivery Stations: 20
Hours: 8:00–4:00 (M-F)

Sacramento Metro. Area
ACT Center 555 Capitol Mall
Suite 550
Sacramento, CA 95814
(916)658–0180
Hours: 7:30–3:30 (M-F)
Delivery Stations: 8

San Diego Metro. Area
PROCTOR Certification Testing
6333 Greenwich Drive
Suite 175
San Diego, CA 92122
(619)558–1164
Hours: 8:00–3:30 (M-F)
Delivery Stations: 11

San Francisco Metro. Area
PROCTOR Certification Testing
525 Market Street
Suite 390
San Francisco, CA 94105
(415)882–1212
Hours: 8:00–4:00 (M-F)
Delivery Stations: 24

Colorado

Denver Metro. Area
PROCTOR Certification Testing
2000 South Colorado Blvd.
Suite 2100 Denver, CO 80222
(303) 692–8745
Hours: 9:00–4:30 (M-F)
Delivery Stations: 13

Connecticut

Hartford Metro. Area
PROCTOR Certification Testing
Glastonbury Corporate Ctr. 628 Hebron Avenue,
Suite 210
Glastonbury, CT 06033
(860)657–3161
Hours: 8:30–4:00 (M-F)
Delivery Stations: 12

Norwalk Metro. Area
PROCTOR Certification Testing
Merritt 7 Corporate Park 101Merritt7, 3rd Floor Norwalk, CT 06851
(203) 845–9655
Hours: 9:00–4:30 (M-F)
Delivery Stations: 10

District Of Columbia

Please see Virginia

Florida

Miami Metro. Area
PROCTOR Certification Testing
The Spessard Holland Building 8000 Governors Square Blvd.
Suite 303
Miami Lakes, FL 33016
(305) 825–7940
Hours: 9:00–4:30 (M-F)
Delivery Stations: 18

Orlando Metro. Area
PROCTOR Certification Testing
601 South Lake Destiny Road
Suite 220
Maitland,FL 32751
(407)875–8118
Hours: 8:30–4:00 (M-F)
Delivery Stations: 24

Georgia

Atlanta Metro. Area
PROCTOR Certification Testing
900 Ashwood Parkway
Suite 490
Atlanta, GA 30338
(404)551–0845
Hours: 9:00–4:30 (M-F)
Delivery Stations: 18

Illinois

Bloomington Metro. Area
PROCTOR Certification Testing
211 Landmark Drive,
Suite A3 Normal, IL 61761
(309) 452–4788
Hours: 8:00–3:30 (M-F)
Delivery Stations: 10

Chicago Metro. Area
PROCTOR Certification Testing
10 South LaSalle Street
Suite 2101 Chicago, IL 60603
(312)609–2525
Hours: 8:00–4:00 (M-F)
Delivery Stations: 25

ACT Center
River Tree Court
Corner of 21 and Rt. 60
Vernon Hills, IL 60061
(708)247–4218
Hours: 8:00–4:00 (M, T, Th, F, S)
Delivery Stations: 9

Indiana

Indianapolis Metro. Area
PROCTOR Certification Testing
Keystone at the Crossing 8900 Keystone Crossing
Suite 990
Indianapolis, IN 46240
(317)846–8287
Hours: 8:00–3:30 (M-F)
Delivery Stations: 8

Iowa

Des Moines Metro. Area
PROCTOR Certification Testing
3737 Woodland Avenue
Suite 232
West Des Moines, IA 50265
(515)223–5452
Hours: 8:00–3:30 (M-F)
Delivery Stations: 6

Kansas

Kansas City Metro. Area
PROCTOR Certification Testing
Commerce Plaza II
7400 West 110th Street
Suite 310
Overland Park, KS 66210
(913)338–4700
Hours: 9:00–4:30 (M-F)
Delivery Stations: 9

Kentucky

Louisville Metro. Area
PROCTOR Certification Testing
10170 Linn Station Road
Suite 550
Louisville, KY 40223
(502)423–1603
Hours: 8:30–4:00 (M-F)
Delivery Stations: 4

Louisiana

New Orleans Metro. Area
PROCTOR Certification Testing
Energy Centre
1100 Poydras Street
Suite 810
New Orleans, LA 70163
(504) 522–7999
Hours: 8:30–4:00 (M-F)
Delivery Stations: 7

Maryland

Baltimore Metro. Area
PROCTOR Certification Testing
Dulaney Center II
901 Dulaney Valley Road
Suite 502
Towson, MD 21204
(410)337–5103
Hours: 9:00–4:30 (M-F)
Delivery Stations: 9

Massachusetts

Boston Metro. Area
PROCTOR Certification Testing
1601 Trapelo Road Building C
Waltham, MA 02154–1046
(617) 890–0466
Hours: 8:00–3:30 (M-F)
Delivery Stations: 23

Michigan

Detroit Metro. Area
PROCTOR Certification Testing
Oakland Towne Square One Towne Square 2nd Floor
Southfield, MI 48076
(810)351–9088
Hours: 8:00–3:30 (M-F)
Delivery Stations: 16

Minnesota

Minn./St. Paul Metro. Area
PROCTOR Certification Testing
8300 Norman Center Drive
Suite 850
Bloomington, MN 55437
(612)835–9420
Hours: 8:30–4:00 (M-F)
Delivery Stations: 18

Missouri

St. Louis Metro. Area
PROCTOR Certification Testing
West Park I
12655 Olive Blvd., 3rd Floor CreveCoeur, MO 63141
(314)469–6086
Hours: 8:30–4:00 (M-F)
Delivery Stations: 11

Nebraska

Omaha Metro. Area
PROCTOR Certification Testing
Century Building 11213 Davenport Street
Suite 103
Omaha, NE 68154
(402) 333–6278
Hours: 9:00–4:30 (M-F)
Delivery Stations: 6

New Jersey

West Orange Metro. Area
PROCTOR Certification Testing
Eisenhower Office Park
101 Eisenhower Parkway
4th Floor
Roseland, NJ 07068
(201) 228–8777
Hours: 8:30–4:00 (M-F)
Delivery Stations: 18

New Mexico

Albuquerque Metro. Area
PROCTOR Certification Testing
City Center
6400 Uptown Blvd. N.E.
Suite 476W
Albuquerque, NM 87110
(505) 884–6033
Hours: 8:30–4:30 (M,W, F); 8:30-
2:30 (T, Th)
Delivery Stations: 4

New York

Please also see New Jersey

New York City Metro. Area
PROCTOR Certification Testing
225 Broad Hollow Road
Suite 116W Melville, NY 11747
(516)845–9063
Hours: 8:30–4:00 (M-F)
Delivery Stations: 21

New York City Midtown Area
PROCTOR Certification Testing
201 East 42nd Street
Suite 1000, 10th Floor New York, NY 10017
(212)809–5509
Hours: 8:30–4:00 (M-F)
Delivery Stations: 50

New York City Whitehall Area
PROCTOR Certification Testing
33 Whitehall Street
11th Floor
New York, NY 10004
(212)809–5509
Hours: 8:30–5:30 (M-F)
Delivery Stations: 50

Rochester Metro. Area
PROCTOR Certification Testing
WoodcliffI
345 Woodcliff Drive, 1st Floor
Fairport, NY 14450
(716)383–5630
Hours: 8:30–4:00 (M-F)
Delivery Stations: 8

North Carolina

Charlotte Metro. Area
PROCTOR Certification Testing
5000 Nations Crossing Road 9 Woodlawn Green
Suite 219
Charlotte, NC 28217
(704) 523–2773
Hours: 8:00–3:30 (M-F)
Delivery Stations: 14

Raleigh Metro Area 5540 Centerview Drive
Suite 307
Raleigh, NC 27606
(919) 859–2240
Hours: 9:00–4:30 (M-F)
Delivery Stations: 8

Ohio

Cincinnati Metro. Area
PROCTOR Certification Testing
4445 Lake Forest Drive
Suite 210
Cincinnati, OH 45242
(513)769–6555
Hours: 8:00–3:30 (M-F)
Delivery Stations: 9

Cleveland Metro. Area
PROCTOR Certification Testing
6450 Rockside Woods Blvd.
Suite 155
Independence, OH 44131
(216) 642–7745
Hours: 8:30–4:00 (M-F)
Delivery Stations: 7

Columbus Metro. Area
PROCTOR Certification Testing
655 Metro Place South
Suite 145
Dublin, OH 43017
(614)793–1592
Hours: 8:00–3:30 (M-F)
Delivery Stations: 7

Oklahoma

Oklahoma City Metro. Area
PROCTOR Certification Testing
One Lakeview Energy Center 3817 Northwest Expressway
Suite 150
Oklahoma City, OK 73112
(405)942–1562
Hours: 8:30–4:00 (M-F)
Delivery Stations: 6

Oregon

Portland Metro. Area
PROCTOR Certification Testing
9115 S.W.Oleson Road
Suite 101
Portland, OR 97223
(503) 293–8957
Hours: 9:00–4:30 (M-F)
Delivery Stations: 7

Pennsylvania

Allentown Metro. Area
PROCTOR Certification Testing
7660 Imperial Way
Suite A-l 01 Allentown, PA 18195
(610)481–0460
Hours: 8:30–4:00 (M-F)
Delivery Stations: 5

Harrisburg Metro. Area
PROCTOR Certification Testing
Commerce Park 2405 Park Drive,
Suite 202
Harrisburg, PA 17110
(717)652–4821
Hours: 9:00–4:30 (M-F)
Delivery Stations: 4

Philadelphia Metro. Area
PROCTOR Certification Testing
1760 Market Street, 9th Floor Philadelphia, PA 19103
(215)564–2980
Hours: 8:30–4:00 (M-F)
Delivery Stations: 20

Pittsburgh Metro. Area
PROCTOR Certification Testing
Foster Plaza, Building 9 750 Holiday Drive
Suite 605
Pittsburgh, PA 15220
(412)928–2440
Hours: 8:30–4:00 (M-F)
Delivery Stations: 8

Tennessee

Memphis Metro. Area
PROCTOR Certification Testing
Penn Marc Centre
6401 Poplar Avenue,
Suite 110
Memphis, TN 38119
(901)767–1180
Hours: 9:00–4:30 (M, T); 9:00–3:00
(W, Th, F)
Delivery Stations: 4

Nashville Metro. Area
PROCTOR Certification Testing
One Lakeview Place
25 Century Blvd.,
Suite 604
Nashville, TN 37214
(615)871–9972
Hours: 9:00–3:00 (M, W, F); 9:00-
4:30 (T, Th)
Delivery Stations: 6

Texas

Dallas Metro. Area
PROCTOR Certification Testing
Wellington Centre 14643 Dallas Parkway
Suite 640
Dallas, TX 75240
(214)385–1181
Hours: 8:30–4:30 (M-F)
Delivery Stations: 20

Houston Metro. Area
PROCTOR Certification Testing
Park National Bank Building 10333 Richmond Avenue
Suite 680
Houston, TX 77042
(713)952–5005
Hours: 8:30–4:00 (M-F)
Delivery Stations: 14

San Antonio Metro. Area
PROCTOR Certification Testing
40 Northeast Loop 410
Suite 431
San Antonio, TX 78216
(210) 349–5900
Hours: 8:30–4:00 (M-F)
Delivery Stations: 8

Utah

Salt Lake City Metro. Area
PROCTOR Certification Testing
560 East 200 South
Suite 360
Salt Lake City, UT 84102
(801)537–1615
Hours: 9:00–4:30 (M-F)
Delivery Stations: 9

Virginia

No. Virginia Metro. Area
PROCTOR Certification Testing
Tycon Towers I Building 8000 Towers Crescent Drive
Suite 280
Vienna, VA 22182
(703) 821–3695
Hours: 9:00–4:30 (M-F)
Delivery Stations: 12

Richmond Metro. Area
PROCTOR Certification Testing
Culpeper Building 1606 Santa Rosa Road
Suite 113
Richmond, VA 23288
(804) 285–8706
Hours: 8:30–4:00 (M-F)
Delivery Stations: 7

Washington

Seattle Metro. Area
PROCTOR Certification Testing
11400 Southeast 8th Street
Suite 270
Bellevue, WA 98004
(206)451–9883
Hours: 9:00–4:30 (M-F)
Delivery Stations: 11

Wisconsin

Milwaukee Metro. Area
PROCTOR Certification Testing
10400 West North Avenue
Suite 340
Milwaukee, WI53226
(414)774–1378
Hours: 8:30–4:00 (M-F)
Delivery Stations: 12

PROCTOR PR01995 Delivery Schedule For Continuing Education Regulatory Element Computer-Based Training

To schedule an appointment with PROCTOR PRO, please phone (800) 999–6647 and select option 1 at the voice prompt.

Dates Location/Address
Oct. 11–13 Las Vegas, NV
  University of Nevada Las Vegas
  UNLV Business Center
Oct. 18–20 Sioux Falls, SD
  University of Sioux Falls
  Salsbury Student Union-Rose Room
  1101 West 22nd Street
Oct. 25–27 Amarillo, TX
  Amarillo College
  Russell Gym, Room #131
Nov. 8–10 Boise, ID
  Holiday Inn-Airport
  3300 Vista Ave.
Nov. 29-Dec. 1 Anchorage, AK
  2550 Denali
  16th Floor Conference Room
Dec. 13–15 Spokane, WA
  Eastern Washington University
  Spokane Center
  705 West First Street

As of this printing, dates and location are pending in Honolulu.