Registration of Operations & Support Personnel

SIFMA provides comments to Financial Industry Regulatory Authority (FINRA) on a proposal for the registration of operations and support personnel, FINRA Regulatory Notice 10-25. The proposal would create a new registration category and qualification examination, and related continuing education requirements, for certain operations and other support personnel.  The proposal would also expand FINRA’s registration requirements to include as qualified and registered persons certain individuals who supervise, and in some cases directly engage in, activities related to sales and trading support and the handling of customer assets. SIFMA believes that the provisions relating to “depth of personnel” and “covered functions” should be revised to clarify the new registration requirements and address in a more targeted manner FINRA’s ultimate regulatory objectives.