Company Overview – FINRA Corp 


The Financial Industry Regulatory Authority, also known as FINRA, provides the financial services industry with regulation focused on investor protection.

FINRA is a not-for-profit organization separate from the federal government.

It was initially authorized by Congress to maintain the integrity of the securities industry through fair and honest operations. 

This regulatory body focuses its efforts on writing and enforcing governing rules directly related to over 4,000 securities firms as well as their 633,000 individual brokers, as well as performing in-depth examination of those firms to ensure compliance with FINRA rules and regulations.

The organization also prides itself on its ability to educate investors of all backgrounds and skill levels at no cost to taxpayers.

Additionally, FINRA offers comprehensive training programs to securities firms, individual brokers, administrative and operational professionals, wholesalers and compliance individuals on a wide range of relevant and timely topics.



Review of FINRA’s Training Program and Certification

FINRA provides an extensive range of training and certification programs through its eLearning course offerings.

Each course is between 20 and 30 minutes in length and is designed to be an interactive training tool for firms and their registered or unregistered individuals.

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FINRA eLearning courses are typically composed of three integral sections:

  1. Core concepts – the first section of any eLearning course specifies the rules and regulations that all professionals within the financial services industry are required to adhere to in regard to the subject matter of the course. This section also explains in detail how those regulations apply in practice on the job.
     
  2. Scenarios – The next section of an eLearning course takes the core concepts discussed in the first section and applies them to commonplace compliance issues that arise in the workforce. These scenarios are meant to demonstrate how industry professionals can most effectively address similar situations in practice.
     
  3. Post-Course Examination/Assessment – At the end of each eLearning course, users are prompted to complete a multiple choice exam in order to test comprehension of the course material.


What Types of Training Program and Certification Does FINRA Provide?

FINRA offers a wide variety of training and certification programs, and is touted as a leader in the financial services and securities industry in this regard.

This may be due to the fact that this regulatory body writes and enforces the majority of the rules laid out for financial professionals.

The eLearning courses range in topic from Business Conduct and Branch Supervision to Insider Training and Anti-Money Laundering. 



Review of what FINRA’s AML Training Covers

FINRA’s AML training programs provide a greater level of training to individuals within the financial services and securities industries than most other training programs on the market.

Each individual course is designed to present information that provides a quality, well-rounded example of real world implications of AML issues and to uniquely combine FINRA’s intimate knowledge of the financial industry with manageable education modules.

The courses listed above cover information necessary for registered representatives, compliance officers, administrative personnel and institutional managers to meet annual AML requirements related to timely AML issues.



Benefits of FINRA’s E-Learning Training Program:

Most AML courses offered online are presented in a format that only requires thumbing through the information provided in order to reach the assessment portion of the program.

Through these typical programs, individuals do not necessarily gain the important information necessary to be truly educated in the most up to date AML issues and guidelines as directed by regulatory institutions. 

FINRA’s AML course offerings provide a much more detailed knowledge-based format, providing more than just a passing grade–and fulfillment of the annual AML requirement–as its competitors do.

In addition, FINRA’s AML courses utilize real world scenarios to make the programs much more engaging than other training modules offered online.



What are the Eligibility Requirements?

There are no specific company or individual requirements that must be fulfilled in order to access FINRA’s AML training resources, although prices and discounts vary depending upon whether the firm or individual registering for courses is a member of FINRA or not.

What is the Cost of FINRA’s E-Learning Training Program?

In comparison to other AML training and certification resources available online, FINRA’s AML eLearning courses are substantially less expensive and provide an option for subscription services to further reduce the costs.

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For FINRA members

  • Individual eLearning AML Course – $12.50 per course (compared to $40 per course for similar course offerings from different institutions)
  • Access to eLearning Library (including all courses including AML programs) – $45 per year, per individual (typically not offered by similar organizations)

For non-FINRA members

  • Individual eLearning AML Course – $25 per course
  • Access to eLearning Library (including all courses including AML programs) – $90 per year, per individual


Any Other Pertinent Information?

FINRA also offers a comprehensive Compliance Boot Camp that allows participants the opportunity to engage with and be educated about essential compliance concepts relevant to the industry at large.

These programs marry self-study and classroom training in half-day programs, covering a broad range of topics to include AML issues.

The cost for FINRA’s Compliance Boot Camp is $195 per participant.

AML training is required each year by most professionals working within the financial services and securities industries, so staying on top of the most current changes in AML regulations is pertinent to success and ultimately compliance.

FINRA offers a wide range of conferences and events held around the country, as well as timely webinars and podcasts available to industry professionals in an effort to help them stay abreast of current issues and regulatory change.

Individuals and firms can sign up for e-mail updates through FINRA’s site at no cost to them, as well as RSS feed updates and newly available content relating directly to AML education.



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