What You Need to Know
- The $100 annual fee would apply to members who take CE to remain qualified for up to five years after their registration is terminated.
- The proposal needs SEC approval.
- Still awaiting approval by the SEC is a plan to permit BDs to place a temporary hold on securities transactions in cases of senior exploitation.
The Financial Industry Regulatory Authority’s board has approved a plan to levy a $100 annual fee on individuals who choose to complete continuing education to remain qualified for up to five years after they’ve terminated their registration.
On Sept. 21, the Securities and Exchange Commission approved amendments to FINRA rules to enhance the CE program to, among other things, allow individuals who terminate their registrations to reregister after an extended period without retaking the required qualification examinations if they maintain their CE requirements during this period, FINRA explained.
FINRA’s annual fee proposal needs SEC approval.