FINRA proposed amendments to cross-reference the qualification, registration and continuing education of associated persons provisions with the Capital Acquisition Broker rules ("CAB Rules"). The consolidated FINRA rules took effect on October 1, 2018.
FINRA proposed to amend the following CAB Rules to cross-reference the new FINRA Rules on individual qualification and registration in place of superseded NASD Rules: CAB Rules 119 ("Foreign Members and Associates"), 121 ("Registration Requirements"), 123 ("Categories of Registration"), 124 ("Persons Exempt from Registration") and 125 ("Continuing Education Requirements"). FINRA also proposed to delete CAB Rule 122 ("Qualification Examinations"), which is covered by equivalent FINRA Rules.
FINRA proposed the amendments for immediate effectiveness.
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