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The FINRA’s Regulatory
Element of Continuing Education requires you to participate in a prescribed
computer-based training session (CBT). This session focuses on your
knowledge of applicable requirements relating to registration and
reporting ethics, sales practices, business conduct, trade and settlement
practices and securities distribution. You are required to complete
a CBT session within 120 days after your 2nd year anniversary
date and every three years thereafter (the anniversary date is the
date on which you became registered in the industry).
When you reach
an applicable anniversary date, the FINRA will forward a report to
SM&R which will designate your 120-day period for completion.
SM&R will notify you to remit the $65.00 fee to cover the cost
of the session. Upon receipt of your check, SM&R will forward
your FINRA notification to you so that you may schedule your appointment.
For information
on testing centers near you, please visit the FINRA Regulation site
at www.FINRAr.com/2640.htm
and select “Sylvan Delivery Site.” For information on the
session content, please select “Reg Element Content Outline”.
Please call
the Sylvan Testing Center at 1-800-578-6273 to schedule your CBT
session, and to receive your instructions regarding confirmation
number, identification required and cancellation/rescheduling procedures.
Please verify address of the location you choose. It
is important that you schedule your session as early in the 120-day
period as possible as this requirement dramatically increases the
number of individuals scheduling appointments at these testing centers.
If you sit for
the CBT, but do not complete the session in the allotted
time, you must again submit a check for $65.00 made payable to SM&R
and then reschedule another session prior to the end of your 120-day
period. In addition, if you schedule an appointment and do not show
up or cancel in less than 48 hours you will be required to pay an
additional $65.00 "NO SHOW"/LATE CANCELLATION? Fee. PLEASE NOTE
THAT THE CBT SESSION IS NOT A TEST, THERE IS NO PASS/FAIL, YOU JUST
MUST COMPLETE THE SESSION IN THE ALLOTTED TIME.
In the event
you do not complete the CBT within 120 days of your anniversary
date indicated on your FINRA notice, the FINRA will consider your
registration inactive which means you cannot conduct business or
perform any functions as a registered representative nor can you
be paid commissions. In the event you become inactive SM&R
will remove you as a representative on your accounts. Your registration
will continue to be inactive until you complete the CBT ("back"
commissions will not be paid for any period in which you were "inactive").
If you remain inactive for a period of 3 months, SM&R may immediately
terminate your registration.
Please call
us at (800) 526-8346, Ext. 227 if you have further questions,
or send us an email to heather.delgado@smr-invest.com.
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