FINRA Proposes Extension of Time to Complete CE Requirements under Maintaining Qualifications Program

FINRA proposed an extension of time for individuals enrolled in the Maintaining Qualifications Program ("MQP") to complete their prescribed 2022 and 2023 continuing education requirements.

FINRA said there may have been confusion by certain "Look Back Individuals," (those who were registered within two years immediately prior to March 15, 2022, or who participated in a Financial Services Affiliate Waiver Program,) who may have "inadvertently assumed that completion of the renewal process alone would have satisfied all of the necessary requirements to continue their participation in the MQP."

FINRA proposed to amend FINRA Rule 1240.01 ("Supplementary Material: Continuing Education Requirements: Eligibility of Other Persons to Participate") to provide Look-Back Individuals enrolled in the MQP in both 2022 and 2023 who did not complete their prescribed 2022 and 2023 CE content as of March 31, 2024, the opportunity to complete such content between May 22, 2024, and July 1, 2024.