A broker-dealer and its CEO settled FINRA charges for associating with an individual who was subject to statutory disqualification and permitting that individual to engage in activities that required registration as a Municipal Securities Representative.
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SIFMA asked the MSRB to broaden a proposed exemption to allow individuals who have been out of the securities industry for a limited time to requalify without having to retake examinations. SIFMA urged the MSRB to harmonize the exemption with requirements for muni dealers and broker dealers.
The MSRB proposed a one-time exception to allow individuals previously qualified as municipal advisors whose certification lapsed to requalify without having to take the Series 50 exam, subject to certain conditions.
The MSRB proposed amendments to its professional qualification requirements to expand and align the MSRB's continuing education program requirements with FINRA's recently updated standards.
At its quarterly Board of Directors meeting, the MSRB reviewed initiatives under the strategic plan for improving and protecting the municipal securities market.