REGISTRATION AND DISCLOSURE

Qualifications Exams

Qualification and Registration

The SEC approved a proposed rule change to: (1) adopt consolidated FINRA registration rules; (2) restructure the representative-level qualification examinations by creating a general knowledge examination called the Securities Industry Essentials (SIE) and transforming the representative-level examinations into specialized knowledge examinations; and (3) amend the Continuing Education (CE) requirements. In January 2018 the SEC approved the content outline and selection specifications for the SIE. These changes become effective October 1, 2018.

Securities Exchange Act Release No. 82578 (January 24, 2018), 83 FR 4375 (January 30, 2018) (File No. SR-FINRA- 2018-002): Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the New Securities Industry Essentials Examination

• FINRA Regulatory Notice 17-30 (October, 2017):  SEC Approves Consolidated FINRA Registration Rules, Restructured Representative-Level Qualification Examinations and Changes to Continuing Education Requirements