FINRA MQP Deadline Approaches for Broker Dealers
MQP Learning Plans Due March 31
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MQP Learning Plan Deadline Approaches
On March 15, 2022, FINRA established a program allowing eligible individuals the option of maintaining their qualifications for certain terminated registrations by completing continuing education (FINRA Rule 1240(c)). The Maintaining Qualifications Program allows eligible persons to maintain their qualifications for up to five years by completing annual continuing education requirements. In March, 2023 FINRA announced a second MQP enrollment period for individuals who had an eligible registration terminated between March 15, 2020, and March 15, 2022. Those who enrolled in the second MQP period must complete their prescribed 2022 and 2023 MQP learning plan by March 31, 2024.
Broker-Dealer Continuing Education Overview
As broker-dealer compliance teams create their 2024 compliance calendars, one element to incorporate is efficient tracking and documenting that your registered persons’ complete the Regulatory Element Continuing Education (CE) requirements are met annually by December 31st. FINRA’s Regulatory Element CE must be completed by all registered persons no later than December 31st each year. Extensions beyond the deadline may be granted by FINRA on a case-by-case basis. Regulatory Element CE will be administered through each individual FinPro account. Content of the Regulatory Element CE will be specific to each registration category that an individual maintains. FINRA’s 2024 Regulatory Element CE topics have been published.
Streamlining Broker-Dealer Compliance
Oyster Consulting has extensive experience helping broker-dealers organize and automate their compliance programs. Tracking and documenting your registered persons’ CE requirements is just one function that our Oyster Solutions integrated and automated compliance software provides. Tracking licensing and appointments, outside business activities, conflicts of interest, assigned equipment and complaints for needed individuals is easy, reportable and configurable to your needs. Get transparency into your employee or 1099 population by keeping information in one place, where you can view employee type, supervisory hierarchy and business continuity plan information.
Learn how Oyster Solutions creates a modern, effective compliance program that protects your firm and provides value.
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Oyster Consulting gives financial services industry clients innovative tools to understand, automate, optimize and analyze crucial functions. We have the expertise, experience and licensed professionals you need, all under one roof. Our seasoned industry leaders provide consulting, outsourcing and software to help you plan, manage risk, achieve compliance and optimize operations so you can focus on running and growing your business.
