Regulatory Outlook | 06.09.21
FINRA Proposes Annual Regulatory Education
FINRA has submitted a proposal to the SEC that would require registered representatives to complete the regulatory element of continuing education every year, instead of once every three years. FINRA is also proposing permitting brokers to leave the industry and maintain their registration status for up to five years instead of two years. This would be allowed as long as a broker completes the continuing education. The regulator says the proposal would increase diversity and inclusion, and allow brokers to “address life and career events.” The proposal added, “Significantly, the proposed rule change will be of particular value to women, who continue to be the primary caregivers for children and aging family members and, as a result, are likely to be absent from the industry for longer periods."
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