Regulatory Notice 09-61

Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update

Published Date:

Continuing Education

Regulatory Notice
Notice Type

Guidance 		 
Suggested Routing

Compliance
Continuing Education
Legal
Registration
Senior Management
 Key Topics

Continuing Education
Firm Element

Executive Summary

This Notice advises firms of the Fall 2009 Securities Industry/Regulatory Council on Continuing Education Firm Element Advisory, which identifies regulatory and sales practice topics that firms should consider in their Firm Element training plans. Topics updated or added since the spring Advisory are indicated in the document as such.

The updated Firm Element Advisory is available at www.cecouncil.com/Documents/FEA_Semi_Annual_Update.pdf.

This Notice also includes resources the Council is making available to help firms with their Firm Element planning.

Questions concerning this Notice should be directed to [email protected]; or Roni Meikle, Director, Continuing Education, FINRA, at (646) 315-8688.

Background/Discussion

The Securities Industry/Regulatory Council on Continuing Education (the Council) publishes the Firm Element Advisory (FEA) to highlight current regulatory and sales practice issues for possible inclusion in Firm Element training plans. The topics have been identified from a review of industry regulatory and self-regulatory organization publications and announcements of significant events.

The Firm Element Advisory topics are not exhaustive and are intended as a guide to firms when they determine what to include in their training plans. Firms should consider the specific nature of their business, clients, products and services when creating their training plans.

New Firm Element Planning Resources

Firms have asked the Council for more resources to help with Firm Element planning. In response to that request, the Council has developed tools for use by firms in addition to or in conjunction with the Firm Element Advisory:

•    Guide to Firm Element Needs Analysis and Training Plan Development: Offers suggestions for effectively performing the Needs Analysis and developing training plans. The document is available at www.cecouncil.com/publications/council_publications/Guide_to_Firm_Element.pdf.
•    The Firm Element Organizer: A Web-based tool that can be used to search through an extensive database of regulatory resources related to specific investment products or services. The Organizer provides links to the identified resources and is available at www.cecouncil.com/firm_element/organizer.
•    Training Resources: The Council has also included a section in the FEA that lists training resources provided by industry regulators that can be used for Firm Element training or can assist registered persons when preparing for their Regulatory Element sessions.

The Council recommends using all the available tools to make the Firm Element planning more efficient and effective.