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SILA Securities Industry Subgroup (SSIS) Meeting
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SILA Securities Industry Subgroup (SSIS) Meeting

SILA Securities Industry Subgroup Meeting - 3rd Quarter 2018

When: Tuesday, August 21, 2018
2:00 - 3:00 PM ET
Where: United States

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SILA Securities Industry Subgroup (SSIS)

2018 – 3rd Quarter


Date:                    Tuesday, August 21, 2018

Time:                    2:00-3:00pm eastern time

Conference #:       303-248-0285 - Code 3405506#

Meeting Agenda

1. Welcome – Sherri Coleman, Co-Chair

2. FINRA Updates – Mario DiTrapani

3. Questions for FINRA

  • Does the exam restructure only applies to rep-level exams?  Even though there are principal ‘registration’ impacts identified in RN17-30, no principal ‘exams’ are impacted with the 10/1 exam restructure.  Rep-level exams impacted only.
  • Will you clarify the new requirement to designate Principal Financial Officers and Principal Operations Officers ~ Schedule A of Form BD?
  • Will the existing Series exams be available after 10/1 for those candidates who open windows prior to 10/1? If the Exam windows opened 10/1 or after,  would the new top-off versions apply, thus the need for the SIE for those candidates?  What is the transition time and will separate exam versions will be offered (current / top-off) dependent on when the exam window was opened?
  • Another example, if a Series 7 exam window was opened in September and the candidate takes and passes the Series 7 (current version since window opened prior to 10/1) after 10/1, does the candidate have to take the SIE in order to obtain the GS registration?
  •  If they fail the exam after 10/1, will they be required to take the SIE and top-off version of the exam when they retake? 

4. State Securities Requirements Spreadsheet Update – Deirdre Patten


5. Open Forum Discussion – Sherri Coleman