FINRA recently announced that the SEC has approved FINRA's rule proposal to restructure and streamline competency exams and broaden opportunities for prospective securities professionals to enter the securities industry. The new rule will become effective on October 1, 2018. The revised program will require all new representative-level applicants to pass (i) a general knowledge examination, (ii) a revised representative-level qualification examination that corresponds to their responsibilities at their associated firms and (iii) the Securities Industry EssentialsTM. The revised representative-level qualification examinations will test knowledge about representatives' day-to-day activities, responsibilities and job functions. The new Securities Industry EssentialsTM will focus on fundamental securities-related knowledge, the structure and function of the securities industry and regulated and prohibited practices. For more information, see http://www.finra.org/newsroom/2017/finra-receives-sec-approval-streamline-competency-exams.
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