Quest CE Announces Enhancements to Renaissance

October 13th, 2010

MILWAUKEE – October 13, 2010 – Quest Continuing Education Solutions (Quest CE) is proud to announce new enhancements to its proprietary Learning Management System (LMS), Renaissance. Quest CE has made it a priority to be receptive to feedback from clients and prospects. These new enhancements will reflect suggestions made to improve the Learning Management System.

Students will now be able to post a comment to the Discussion Board from within the course they are reviewing. By submitting a comment, it will automatically send an e-mail to the Discussion Board contact, on record, of any post or responses. This will allow students to virtually meet live within the course, without having to leave the course.

In addition, students will also have the ability to e-mail a request form to their Compliance contact, while within a course. This is beneficial for the student if they would like to know the status of their course, other courses needed to be taken to meet their requirement, or have questions about the content which they are reviewing.

If a student should need to contact Quest CE while within a course, this is readily available by accessing a Technical Support link from within the course. They will no longer need to leave the course in order to obtain contact information. Students can send an e-mail request or start a live chat session with an Online Services Representative, in order to troubleshoot a problem they may be having.

Quest CE’s goal is better serve the client by being receptive to feedback and continuously improving technology, furthermore making the LMS system and courses more user-friendly. For questions regarding Quest CE’s new enhancements, please call 877-593-3366 or e-mail at info@questce.com.

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About Quest

With a client retention rate of 95.17% and a growth rate of over 400% since January 1, 2005, more and more people are discovering why Quest CE is the Next Generation of Compliance Training Solutions. Quest CE serves more than 160 leading insurance carriers, broker/dealers, banks, and other financial institutions. Quest is a privately held company which allows them to quickly meet the ever-changing needs of their clients. Quest’s commitment is to provide advanced custom solutions at cost effective rates while providing a level of service that greatly surpasses that of our competitors.  Quest provides a single source solution for organizations’ training and compliance needs, saving you both time and money.

Take 10% off Insurance and Designation Continuing Education this Month

October 12th, 2010

Since 1986, Quest Continuing Education Solutions (Quest CE) has been nationally approved as a premier provider of Insurance and Designation CE. Each year we deliver over 150,000 Insurance and Designation CE courses.
 
Sign up with Quest today and receive 10%* off your entire purchase by using discount code “AUTUMN10”.

To view our course library please Click Here or visit learn.questce.com

*Discounts are not applicable to State Rostering Fees

Missouri Update: Non-Refundable Application Fees

October 12th, 2010

Missouri application fees are NON-REFUNDABLE. Avoid these common errors, which result in non-refundable payment of fees:

1. Applicant marked the incorrect line of authority when completing the application.
2. Applicant applied for an agency license that was already held by the agency.
3. Applicant completed two identical applications.
4. Applicant applied for a license they are not required to hold.
5. Applicant applied for a license they were not qualified to hold.

For more information on this update visit http://insurance.mo.gov/

To view our library of Missouri Insurance CE Courses please Click Here

Georgia Renewal Update

October 12th, 2010

All renewals are due November 1, 2010. Any renewal received November 2, 2010 through December 31, 2010, must include a $15 late filing fee. Renewals received January 1, 2011 or after will not be accepted/processed. 2011 Renewals can be filed electronically.
 
For renewal processing questions, please contact Pearson VUE at 1-888-204-6204. 
 
To view our library of Georgia Insurance CE Courses please Click Here

Take 10% off CPE Voucher Cards in October

October 12th, 2010

Quest CE’s CPE Voucher Cards are customizable, branded with your firm’s “look and feel”. A CPE Voucher Card allows your wholesaling force to personally deliver a company “value-added” marketing message to CPA’s. The CPA receives the benefit of being able to complete required CPE training by taking an online course, while at the same time your firm is reinforcing your brand through the use of a customized voucher card.

Quest CE’s Online CPE Voucher Card Program offers over 250 courses approved nationally, available 24 hours a day, 7 days a week. Courses are available in the following Fields of Study:

• Accounting & Auditing
• Consulting Services
• Ethics
• Management
• Professional Development
• Specialized Knowledge & Applications
• Taxation

Order during the month of October and receive 10% off your total CPE Voucher Card purchase.

Contact Alex Krenke at 877.593.3366 or e-mail him at alexkrenke@questce.com for more information about beginning your voucher card program or expanding your reach to new advisors with CPE Voucher Cards.

QUEST CE TO ATTEND 2010 NSCP NATIONAL MEETING

October 12th, 2010

MILWAUKEE – October 8, 2010 – Quest Continuing Education Solutions (Quest CE) will be exhibiting at the 2010 NSCP (National Society of Compliance Professionals) National Meeting in Baltimore, MD on November 1 – 3.
 
NSCP’s National Meeting provides broker-dealers, investment advisors, hedge fund managers and other compliance professionals the opportunity to analyze compliance related matters, learn about important regulatory updates and network with peers to address compliance related topics.
 
It is encouraged that all attendees visit the Quest CE booth to learn about the new enhancements planned for Quest CE’s Learning Management System, Renaissance, in 2011. Quest CE will speak with prospective clients to discuss customizable products and services, as well as provide a price quote for compliance training programs (learn.questce.com/quote).

In addition, Quest CE will be giving away an iPad to a NSCP National Meeting attendee live during the afternoon break on, Tuesday, November 2, 2010. To enter the drawing, attendees should simply visit the Quest CE booth and drop off their business card to Alex Krenke, Whitney Hagstrom or Mike Kufahl.
 
Quest CE will be located at Booth 39, down the hall from Registration, near the East end of the meeting space (by the bar).
 
For more information on the Meeting visit NSCP’s website: http://www.nscpmeetings.com/. To learn more about Quest CE attending the 2010 NSCP National Meeting in Baltimore contact Quest at 877-593-3366 or via e-mail at sales@questce.com.

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About Quest

With a client retention rate of 95.17% and a growth rate of over 400% since January 1, 2005, more and more people are discovering why Quest CE is the Next Generation of Compliance Training Solutions. Quest CE serves more than 160 leading insurance carriers, broker/dealers, banks, and other financial institutions. Quest is a privately held company which allows them to quickly meet the ever-changing needs of their clients. Quest’s commitment is to provide advanced custom solutions at cost effective rates while providing a level of service that greatly surpasses that of our competitors.  Quest provides a single source solution for organizations’ training and compliance needs, saving you both time and money.

FSA and FINRA Sign Cooperation Agreement

October 7th, 2010

The Financial Services Authority (FSA) and the US Financial Industry Regulatory Authority (FINRA) have entered into a Memorandum of Understanding (MOU) to support more robust cooperation between the two regulators.

The MOU establishes a strong framework for enhancing the ability of the FSA and FINRA to oversee the world’s largest securities firms and markets.  The agreement will facilitate the exchange of information on firms and individuals under common supervision, support collaboration on investigations and enforcement matters, and allow further sharing of regulatory techniques, including approaches to risk-based supervision of firms.

The agreement was signed by Jon Pain, FSA’s Managing Director of Supervision and FINRA’s Chairman and CEO Richard Ketchum.

“Given the linkages between our markets, it is vital that both regulators cooperate closely with each other,” Jon Pain said. “This MOU will enhance the supervision of firms and financial markets in both the UK and the U.S.”

Mr. Ketchum added, “To ensure consumer protection and market integrity in today’s global market, regulators must work together with key regulatory partners. Under this agreement, the FSA and FINRA will be able to share information more freely and expeditiously in support of the oversight of common firms and investigations into wrongdoing.”

Notes to Editors

1.The text of the Memorandum of Understanding can be found here http://www.fsa.gov.uk/Pages/Library/Corporate/Memorandums/international/index.shtml.
 
2.FINRA is the largest non-governmental regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing and enforcing rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and registered firms. For more information, see www.finra.org.
 
3.The FSA regulates the financial services industry and has five objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; fighting financial crime; and contributing to the protection and enhancement of the stability of the UK financial system.

FINRA, MSRB Remind Industry of Sales, Due Diligence and Pricing Obligations

October 7th, 2010

FINRA Provides Sales Checklist to Firms

The Financial Industry Regulatory Authority (FINRA), in coordination with the Municipal Securities Rulemaking Board (MSRB) today issued a Regulatory Notice reminding municipal securities dealers of their sales practice, due diligence and fair pricing obligations when selling municipal securities in the secondary market.

In particular, the regulators reminded dealers that they must obtain and disclose to their customers, at or before the time of trade, all material information about the bond that is either known to them or publically available through established industry sources, including, but not limited to, continuing disclosures and other information made available through the MSRB’s Electronic Municipal Market Access System (EMMA). Dealers must also consider this information in assessing the suitability of a municipal security for their customer.

The regulators also reminded dealers that while credit ratings and ratings changes are generally material information about a municipal security, they are only one factor to be considered, and dealers should not solely rely on credit ratings as a substitute for their own assessment of a bond.

FINRA has several ongoing sweeps involving municipal securities. While the results of the sweeps are still being evaluated, FINRA has concerns that firms may not completely understand their obligations with respect to the disclosure of material information to customers at the time of trade.

Accompanying the Notice is a Checklist for Customer Disclosure that FINRA designed as a voluntary tool for dealers to use in connection with secondary market sales of municipal securities. Among other things, material information about a bond will include its terms and features, ongoing disclosures, ratings and ratings changes, the existence of bond insurance or credit or liquidity enhancements, the bond’s price and yield, interest payments, tax implications, call provisions and other material risks, including risk of default.

FINRA is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business - from registering and educating all industry participants to examining securities firms, writing and enforcing rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit www.finra.org.

FINRA Proposes to Permanently Give Investors the Option of All-Public Arbitration Panels

October 7th, 2010

The Financial Industry Regulatory Authority (FINRA) will file a rule proposal next month that would allow all investors filing arbitration claims the option of having an all-public panel, greatly increasing investor choice in the FINRA arbitration program. The rule proposal, which will be filed for approval with the Securities and Exchange Commission (SEC), would expand to all investor claims a two-year-old FINRA pilot program that gives investors filing an arbitration claim against certain firms the option of choosing an all-public panel. 

“Giving each individual investor the option of an all-public panel will enhance confidence in and increase the perception of fairness in the FINRA arbitration process,” said Richard Ketchum, FINRA Chairman and Chief Executive Officer. “All investors will have greater freedom in choosing arbitration panels, and any investor will have the power to have his or her case heard by a panel with no industry participants.”

If approved by the SEC, the rule would give investors the option of choosing an arbitration panel that has two public arbitrators and one non-public arbitrator, as is now the case, or choosing to have their case heard by an all-public panel. The current pilot program involves 14 firms that agreed voluntarily to a set number of investor cases that did not involve individual brokers. The proposed rule would apply to all investor disputes against any firm and any individual broker. It would not apply to arbitration disputes involving only industry parties.

Since the Public Arbitrator Pilot Program began in October 2008, slightly more than 60 percent of investors eligible to participate have opted in, resulting in almost 560 cases to date. Investors opting into the pilot, given the power to eliminate all non-public arbitrators, still chose to have one non-public arbitrator on their panel about 50 percent of the time. The pilot program was originally set to conclude after two years. However, the participating firms agreed recently to extend the pilot program for an additional year while the rule making process goes forward.

FINRA, the Financial Industry Regulatory Authority, is the largest non-governmental regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing and enforcing rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and registered firms. Currently, there are roughly 6,200 FINRA arbitrators – 2,700 are non-public and 3,500 public. For more information, please visit www.finra.org.

Michigan Insurance Licensing Administrative Fines

October 5th, 2010

ADMINISTRATIVE FINE FOR FAILURE TO MAINTAIN A CURRENT MAILING ADDRESS

Section 1238 of the Michigan Insurance Code, MCL 500.1238(1), requires licensees to report a change of mailing address to the Commissioner within 30 days of occurrence; failure to do so is a violation of the Insurance Code and subject to penalty.

Individual Producers, Solicitors, Counselors and Adjusters must report a change of mailing address using the NIPR gateway at www.nipr.com.

Business Entity (Agency) Producers must report a change of mailing address using the FIS 0262 Name or Address Change for Insurance Licensees form available on the OFIR website; www.michigan.gov/ofir - Forms - Insurance – Insurance Licensing Forms;     http://www.michigan.gov/documents/cis/FIS_0262_9-06_Name_Address_Change_173289_7.pdf.

Beginning January 1, 2011, the Office of Financial and Insurance Regulation (OFIR) will be assessing a $100.00 fine to licensees who fail to report a change of mailing address within 30 days from the date of the change.

It is strongly recommend licensees maintain a current email address with OFIR, as general updates and correspondence, CE warning letters, and CE suspensions will be sent via email.  If you do not have a current email address on file, you may miss important information disseminated by OFIR.

Individual and Business Entity (Agency) Licensees:  An email address can be updated at OFIR-Licensing@michigan.gov.  Be sure to include your name and System ID when reporting your new email address.  You may also change your email address by contacting Insurance Licensing at the toll free telephone number (877) 999-6442.
ADMINISTRATIVE FINE FOR INACCURATE INFORMATION ON A LICENSE APPLICATION

Section 1239(1) of the Michigan Insurance Code, MCL 500.1239(1), indicates that the Commissioner shall refuse to issue a license to an applicant who provides incomplete, misleading or materially incorrect information on a license application.

OFIR conducts a background search on all license applications, including a check of criminal history and administrative actions.  Many applicants fail to report misdemeanor or felony convictions that have occurred in the past and/or previous administrative actions.  Common reasons applicants provide for failing to disclose criminal history or administrative actions are that they misread the question, thought the conviction was set aside (expunged), or they didn’t realize the offense/action was on their record.

Beginning January 1, 2011, applicants who provide incomplete, misleading or materially incorrect information on a license application will be assessed a $250.00 fine in addition to being subject to license denial.

It is strongly urged that all applicants read each question on the application carefully and respond with full disclosure.  When unsure if a conviction is recorded, the applicant should check their conviction history through the state/local police or the court in which the prosecution occurred prior to submitting the application to ensure the information provided on the application is accurate. Applicants can check for administrative actions with each state Department of Insurance.

Please contact the Insurance Licensing staff at OFIR-Licensing@michigan.gov or (877) 999-6442 if you have any concerns regarding the content of this communication.