The Security Traders Association ("STA") offered support for, and additional recommendations on, FINRA's proposal to amend its Continuing Education program. The proposal is currently being considered by FINRA's Securities Industry / Regulatory Council on Continuing Education ("CE Council"). In a comment letter, the STA:
- acknowledged the benefits of requiring registered personnel to complete Regulatory Element training annually (as opposed to over the current three-year cycle following the second anniversary of the individual's registration), but expressed concern about the cost it will impose on the industry;
- supported the CE Council's proposal to create a centralized content catalog that firms could use for Firm Element training, and encouraged working with third-party training providers;
- recommended that individuals be permitted to obtain Continuing Education credit by attending panel discussions with approved content;
- recommended that the CE Council establish an ethics category to be added to Firm Element training; and
- supported the CE Council's recommendation to permit previously registered individuals to maintain their qualifications while away from the industry by attending appropriate training.
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