RJ and Makay

In the wake of the new financial reform bill and the recent plethora of Ponzi schemes, we will see more regulation, according to Deirdre Patten of Patten Training & Review LLC. This is evidenced by the proposed new registration, New Qualifications Exam for Operations Professionals requirement, according a recent article posted on PRNewswire.

The registration is designed for individuals supervising operational functions at a broker/dealer, including stock loan, prime brokerage, client on-boarding, receipt and delivery of cash and securities, and account transfers. The proposal allows for an opt-in provision that enables individuals registered as a Series 6, Series 7, Series 17, Series 37/38 and most Principals to qualify without taking the exam.