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Overview of the SIE Exam and Exam Restructuring

August 8, 2018
Volume 32
 
 
upcoming

Upcoming Deadlines and Effective Dates
  • FINRA Requests for Comment
education

Education and Compliance Programs


Tune in to the FINRA Unscripted podcast to hear FINRA leaders review existing and emerging regulatory topics that impact the broker-dealer industry, as well as other insights into the operations of FINRA.

Susan Schroeder, Executive Vice President, Enforcement, discusses the principles that guide FINRA’s decision making when it comes to taking Enforcement action. Listen to the podcast.

 


Overview of the SIE Exam and Exam Restructuring
Join FINRA for the second in a series of conference calls about the Securities Industry Essentials (SIE) Exam and Exam Restructuring on August 15, hosted by senior leaders in FINRA’s Registration and Disclosure Department. This event will include an overview of the introduction of the SIE and the restructuring of representative-level qualification exams, which will become effective October 1, 2018. The call will conclude with a Q & A period. Registration is open to the public, however, spots are limited. Senior Director Joe McDonald will discuss:

  • How FINRA’s qualification exam structure is changing;
  • What is covered on the SIE Exam;
  • Who can take the SIE Exam;
  • What effect the changes will have on current registrants; and
  • How to enroll for the SIE Exam.

Conference calls will be held:
August 15, 2018 • 1 p.m. – 2 p.m., Eastern Time (1 hour) (For Small Firms)
August 15, 2018 • 3 p.m. – 4 p.m., Eastern Time (1 hour) (For Medium and Large Firms) 

To register for the calls or for more information about the SIE exam and exam restructuring, visit:
http://www.finra.org/industry/exam-restructuring.


FINRA Foundation Military Spouse FellowFifty military spouses living in the United States and abroad will have an opportunity to earn the Accredited Financial Counselor® (AFC®) designation to offer one-on-one financial and group counseling and education to service members and their families. Following completion of the FINRA Foundation Military Spouse Fellowship program, fellows are certified to support the military community as financial counselors at family readiness and support centers, credit counseling and tax centers, military relief societies and credit unions throughout the U.S. and internationally. Fellows undergo rigorous training, coursework and experiential hours to gain hands-on experience, all at no cost to the fellows.


FINRA encourages all eligible small firm, mid-size and large firms to vote in the current FINRA Board of Governors election. Firms that were members of FINRA as of the close of business on Friday, July 20, 2018, are eligible to vote. The voting period concludes at FINRA’s Annual Meeting of firms that will take place on Tuesday, August 28, 2018. See Election Notice 7/23/18 for information about the voting methods and candidate profiles.
 

 Upcoming Deadlines and Effective Dates

FINRA Requests for Comments

FINRA published three requests for comments.

FINRA is requesting comment on proposed amendments to the Discovery Guide’s Firm/Associated Persons Document Production List to require firms and associated persons, upon request, to produce documents concerning third-party insurance coverage in a customer arbitration proceeding. The proposed amendments would strictly limit the circumstances under which insurance coverage information could be presented to the arbitrators. See Regulatory Notice 18-22 for more information. Comments are due September 24, 2018.

FINRA seeks comment on proposed amendments to the NASD Rule 1010 Series (Membership Proceedings). The proposal is the result of FINRA’s retrospective review of the MAP rules and processes, and is intended to reduce unnecessary burdens on new and existing firms, while strengthening investor protections. The proposed amendments would replace the NASD Rule 1010 Series with the proposed FINRA Rule 1100 Series (New and Continuing Membership). The proposed amendments would also include additional provisions to address regulatory issues FINRA staff identified and codify existing membership-related interpretations and practices. See Regulatory Notice 18-23 for more information. Comments are due October 5, 2018.

FINRA published a Special Notice seeking comment on how it can support financial technology (fintech) innovation consistent with its mission of investor protection and market integrity. The Notice builds on an initiative FINRA launched last year to improve communication with the securities industry around fintech. In addition, FINRA requests comment on certain fintech areas, including the provision of data aggregation services, supervisory processes concerning the use of artificial intelligence, and the development of a taxonomy-based machine-readable rulebook. The Notice requests comment by October 12, 2018.

 

 Education and Compliance Programs

CRCP Small Firm Scholarship Now Accepting Applications

FINRA is offering five scholarships to industry professionals from FINRA small firms (less than 150 registered reps) to attend the FINRA Institute at Georgetown Certified Regulatory and Compliance Professional (CRCP)® program. The scholarship covers full tuition for the entire CRCP program, including room and board. FINRA is accepting applications through September 17, 2018.

For more information, including eligibility requirements, the selection process and application form, please visit our website.


Join us in New York this fall for two upcoming conferences. The conference brochures, which include the full agenda, speakers and session descriptions, are now available:

Each conference covers a range of topics and provides an opportunity to hear the most up-to-date regulatory information and effective practices. Register today.


This year’s FINRA Small Firm Conference, which takes place November 7 – 8 in Santa Monica, CA, features a Fireside Chat with FINRA President and CEO Robert Cook and FINRA Executive Vice President of Member Supervision Bari Havlik, and a keynote address from Mr. Cook.

Download the conference agenda and register today.


Register today for two upcoming Member Forums. The forums, designed for FINRA member firms, feature panel discussions around the future landscape of the financial services industry and provides opportunities to engage in key discussions with FINRA staff and connect with industry leaders and peers. There is no cost to attend the forums. Register today to attend a forum in your area.


District compliance events are designed for compliance and legal professionals at FINRA member firms, and offer an opportunity to hear about current regulatory issues while engaging with District Office staff. Review the list of upcoming events being held in the Boca Raton, Denver, Dallas, Woodbridge, Kansas City, Los Angeles, and Atlanta districts.

Review the compliance calendar to see a complete list of events that may be in your area.

FINRA is hosting several upcoming Half-Day Compliance Boot Camps across the country, each with different areas of focus. Review the list of upcoming July events, or visit FINRA's website for a full list of FINRA's Compliance Boot Camps and to register.

Upcoming Half-Day Compliance Boot Camps:

  • August 9 | Del Mar, CA
  • August 28 | Southfield, MI
  • September 13 | Dallas, TX
  • September 18 | St. Louis, MO

Also coming up:

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