Exam Alert: FINRA proposes rule requiring Operations Professionals to register

On March 4, 2011, FINRA filed a proposed rule with the SEC that would require that persons who are both “covered persons” and who perform “covered functions” Continue reading

On March 4, 2011, FINRA filed a proposed rule with the SEC that would require that persons who are both “covered persons” and who perform “covered functions” register as “Operations Professionals.”  Operations Professional is a new category of registration that is subject to FINRA’s qualifying exams and continuing education requirements.  Essentially, covered persons are those with control over what work takes place, how a member’s money is materially spent, and what material agreements the member is entered into.  The list of covered functions is fairly broad, covering many broker-dealer activities.

http://www.finra.org/Industry/Regulation/RuleFilings/2011/P123267

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