Broker-dealers must maintain a continuing education program for its registered population to comply with FINRA requirements and to enable the firm’s representatives to build their knowledge of the industry, compliance requirements and the products they sell.
There are two parts to the continuing education program. The Regulatory Element requires all registered individuals to complete a training program, on a prescribed basis, focusing on compliance, regulatory, ethical and sales practice standards. And, the Firm Element requires the firm to specifically evaluate the training needs of its registered population and develop a written training plan and continuing education program that addresses those needs on an annual basis. The firm is required to evaluate their training needs by conducting a formal Needs Analysis, and, based on the results on the needs analysis, develop a detailed, Written Training Plan.
Specifically, FINRA indicates “…in planning, developing and implementing the Firm Element, each broker-dealer must consider its size, structure, scope of business and regulatory concerns. Each broker-dealer must administer its Firm Element Continuing Education Program in accordance with its annual Needs Analysis and Written Training Plan, and must maintain records documenting the content of the program and completion of the program.”
The development, execution, tracking and analysis of the formal Needs Analysis and development of a responsive Firm Element Written Training Plan requires broker-dealers to expend significant time and resources, which can divert focus from other core compliance activities.
Market Leading Provider
RegEd is the leading provider of Firm Element training, delivering more than one million CE courses and insurance certificates on an annual basis. Each year RegEd helps to analyze the training needs of hundreds of broker-dealer firms and develop a comprehensive, responsive Firm Element program that fulfills the requirement under FINRA Rule 1250 Continuing Education.
With the most comprehensive course library available, RegEd is able to fully tailor the annual Firm Element program to meet the exacting training needs of the firm’s registered representatives. RegEd’s course library includes more than 350 courses, with the majority approved to meet state continuing education requirements and fulfill professional designation requirements including CFP, CIMA and CPE. Courses cover a variety of topics designed to meet the needs of broker-dealers.
RegEd’s learning management technology streamlines the creation of the firm’s annual compliance program, simplifies course enrollment and provides access to timely course materials. This enables the firm to efficiently administer the firm’s training program and track course completion, while providing users with intuitive access to training and CE courses to readily fulfill their training and continuing education obligations.
All solutions in the suite leverage RegEd’s powerful platform capabilities. A user-friendly interface and interactive learning elements enable representatives to fully focus on the learning experience. And, comprehensive reporting capabilities enable firms to efficiently manage their firm element training program. RegEd’s Firm Element Training solution streamlines the analysis, preparation and delivery of the firm’s annual training program.
- Comprehensive course library addresses current industry and compliance topics, while satisfying regulatory requirements and fulfilling insurance CE requirements.
- Easily complete all assigned annual training requirements using a single, user-friendly interface.
- Reinforces representatives’ knowledge and comprehension through real-world case studies and rich graphical content.
- Monitor, track and report on each representative’s fulfillment progress and completion status.
- Confirm that CE fulfillment is within specified windows through automated program email reminders.
- Customize course material to meet firm-specific requirements.