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IMPORTANT UPDATES
 
Proposal to Require Registration of Associated Persons Involved in the Design, Development or Significant Modification of Algorithmic Trading Strategies

FINRA has witnessed situations in which failure to check for order accuracy, inappropriate levels of messaging traffic, failure to mark orders “short,” or perform proper short sale “locates,” have resulted in algorithms that do not comply with applicable securities rules. To avoid future problematic conduct, FINRA has created a new proposal to improve education about securities regulations for all individuals involved in the algorithm development process.

This proposal is one of seven recent FINRA initiatives that relate to equity market structure and automated trading activities. These initiatives increase the amount of trading information FINRA receives and provide more transparency during trading activities.

This particular proposal will require employees who are primarily responsible for the design, development or significant modification of algorithmic trading strategies, or those supervising these activities, to register as an Equity Trader. FINRA believes this is the most relevant registration category, and the proposal attempts to define the scope of what constitutes an algorithmic trading strategy.

This proposal would also change the examination requirement for all Equity Traders. Currently, this registration category requires an individual to pass two exams, the Series 7 or 62 and the Series 55. This proposal would create a new Securities Trader category, for which only one combined Series 57 exam would be required.


 
Proposal for Securities Industry Essentials Exam

FINRA is proposing restructuring its qualification examination process. The goal is to create one basic exam in which the content would be largely stable. The title would be the Securities Industry Essentials Exam (SIE), and would be a prerequisite for anyone looking to become registered with a FINRA member firm.

The SIE Exam must be taken and passed prior to sitting for the Series 6, 7, 22, 57, 79, 82, 86, 87, and 99 exams. However, if an individual has already been registered with a FINRA firm within the last 24 months and has passed one of the aforementioned exams, he or she will be exempt from taking this exam.

The most significant change will be that for the first time, candidates will be able to register and sit for a FINRA-administered exam without being sponsored or employed by a FINRA member firm. This is a great first step for individuals looking to pursue a career in the financial services industry, and this would also be viewed favorably by prospective employers.

The suggested preparation should include, but is not limited to, review of the SIE textbook, practice questions and sample Final Exams. The Securities Industry Essentials Exam will be presented in a multiple choice format, and the questions must be answered sequentially.

FINRA will publish a notice seeking comments soon and would file the proposed changes with the SEC in late 2015 or early 2016. Once approved by the SEC, the implementation would begin in late 2016 or early 2017.


 
Series 50 - New Municipal Advisor Exam

The Securities and Exchange Commission (SEC) has approved an MSRB proposal, which requires both representative and principal municipal advisors to pass a basic competency examination. The exam will cover the responsibilities, rules and regulations for municipal advisors.

After gathering input from individuals in the field, a committee of municipal advisor professionals created a study outline of topics that has been approved by the MSRB. The outline will be published soon, and STC will begin preparing its materials with a goal of making them available as of the exam implementation date.

The MSRB hopes to have a pilot exam to validate its test bank and set the passing score as of late 2015. All municipal advisors and principals will be required to pass within one year of the effective date of the permanent exam.

 
123 William Street - New Downtown New York City Class Location!

After 45 years at its Battery Place location, STC has moved! Effective Tuesday, February 17, 2015, all downtown New York City classes will be conducted at our new location at 123 William Street. Classes will be conducted on the 6th floor of this building. Our Corporate Headquarters will reside on the 7th floor. Click here for directions to 123 William Street, or here for a map of the office and surrounding area.

 
Massachusetts change in Continuing Education / License renewal process effective immediately!!
Securities Training Corporation has courses to fulfill your requirement. For more information click here or please contact Jean Carter, Continuing Education Coordinator at (800) 782-2678 ext. 204 or jcarter@stcusa.com.

 
Series 7 Classes Now Offered in Seattle
Beginning in January 2015, STC will be holding Series 7 classes at the University of Phoenix, 7100 Fort Dent Way, Tukwila, Washington 98188.

Click here to view course dates.



 
STC’s eBook is now available for the Series 7, Series 63 and Series 79
The eBook is a downloadable book version of our print Study Manual that can be used on as many as three personal electronic devices, whether one is at home or on the go. After the first download, the eBook continues to be easily accessible both online and offline.

To order, call 1-800-STC-1223 and press 1 for Customer Service.

While we will soon include a feature that will allow students to purchase the eBook on stcusa.com, we are currently accepting phone orders only.

If you have questions, concerns, or suggestions about downloading, contact Cody McClintock at 800-782-1223 ext. 244 or by e-mail at cmcclintock@stcusa.com.

 
Massachusetts change in Continuing Education / License renewal process effective immediately!!
Securities Training Corporation has courses to fulfill your requirement.
For more information click here or please contact Jean Carter, Continuing Education Coordinator at (800) 782-2678 ext. 204 or jcarter@stcusa.com.

 
Edward Jones is partnering with Securities Training Corporation
Financial services firm, Edward Jones, is partnering with Securities Training Corporation (STC), the nation's leading financial services training company, to help prepare students for a career as a financial advisor.

Click here for more information

 
Series 79 Progress Exams Now Available
If you are looking for additional practice questions that focus on the topics covered in the Series 79 material, we can help. Whether you are using our training materials, or another company’s, we are confident that STC’s Series 79 Progress Exams will provide you with the indicator you are looking for to see if you are ready to make that appointment to test.

Click here for more information and the ability to purchase

 
Series 79 On-Demand Lecture Updated
Like many FINRA exams, the Series 79 is constantly evolving to reflect the current job functions of an investment banking representative. To that end, STC has revised its Series 79 ODL to be the most up-to-date lecture program in the business. More emphasis has been made to the regulatory component of the course, with a heavy concentration on offerings, underwriting and M&A.

Click here to see our demo and to order

 
NEW CONTINUING EDUCATION REQUIREMENT IN NEW HAMPSHIRE
Effective January 1, 2015: All producers currently licensed to sell, solicit, and negotiate annuity products in New Hampshire, must complete a one-time annuity training course approved for at least 4 hours by July 1, 2015. All producers licensed on or after January 1, 2015 must complete this training prior to selling, soliciting, or negotiating such products.

Securities Training has a course approved for Annuities. For more information please contact Jean Carter, Continuing Education Coordinator (800) 782-2678 ext. 204 or email jcarter@stcusa.com

 
On-Demand Lectures: Designed for anytime, anywhere use!
We know your schedule doesn't always match ours. It doesn't need to. Our On- Demand lectures offer you an option that traditional classes do not-the ability to rewind and review topics you may have found difficult the first time through and then to proceed confidently at your own pace. Check out our latest demonstration of our on demand lectures by clicking below.

http://www.stcusa.com/Content/promos/promoOnDemand.aspx

 
Important notice about Heartbleed Vulnerability
Click here to read a memo from the CEO about the security of stcusa.com and STC Interactive. .


 
S901 Study Program is NOW available
Need help preparing to successfully satisfy your S901 requirement? STC's S901 Regulatory Prep Study Guide and Regulatory Prep Practice Review is now available. To purchase or for more information, click here.

 
Update for Tax,Retirement Plan, and Regulatory NOW available
Please visit Course Updates to view.



NEW Firm Element/Annual Compliance Meeting/Securities Training Corporation
STC has expanded the offerings in our Firm Element Catalog. Each title focuses on a crucial topic in the industry and is designed to provide targeted training within your Continuing Education Program. For additional information and/or demonstration, please contact Mike Fayne (800) 782-1223.



Other News


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