Quest CE Releases MSRB CE Training Solution
MILWAUKEE – October 26, 2017 – Quest CE, premier provider of compliance training and tracking technology solutions, announced today a comprehensive solution to comply with the Municipal Securities Rulemaking Board’s (MSRB) recent amendment to require all municipal securities firms to maintain a continuing education program. The full-suite solution meets the annual requirement to complete a needs analysis, develop a written training plan and deliver training, all while maintaining electronic records that document the completion of the program.
While dealers have been obligated to conduct continuing education under MSRB rules, there was previously no requirement that required each municipal advisory firm to maintain a current and ongoing program. The requirements, which are part of the MSRB’s regulatory framework for municipal advisors, will go into effect on January 1, 2018. Municipal advisor firms will have until December 31, 2018 to comply with the annual CE requirements that will be codified in amendments to MSRB Rule G-3, on professional qualification requirements, and MSRB Rule G-8, on recordkeeping.
In addition to providing training tailored to municipal advisory rules and regulation, Quest CE’s comprehensive solution allows firms to host, deliver and evaluate the results of their needs analysis survey from one, centralized location. Once survey responses have been collected and analyzed, firms can choose to utilize Quest CE’s written training plan template to help establish the training needs and learning styles of their individuals by taking into account the firm’s size, structure, scope of business and much more. After the training plan has been developed, municipal advisors can choose training topics that are suitable to their written plan and deliver their annual training.
As a way to create a one-stop-shop for their continuing education needs, firms have the option to combine their Firm Element and their municipal advisory training programs. Although a separate needs analysis surveys will need to be conducted for each, both programs can be comprised into one written training plan. Our system makes it easy to host and maintain your municipal securities and Firm Element programs in one platform, saving you the hassle of having to outsource to separate vendors.
“We believe the future of the financial services industry as it relates to compliance with the different regulators will be driven by technology alongside comprehensive training,” said Quest CE EVP of Sales, Marketing and Client Services Alex Krenke. “These new standards adopted by the MSRB correlate directly with the needs of our existing customer base of over 1,000 broker/dealers and investment advisors. We look forward to partnering with the industry to satisfy these new requirements.”
The new requirements fulfill the MSRB’s mandate under the Dodd-Frank Wall Street Reform and Consumer Protection Act to develop professional qualification standards and CE requirements for municipal advisors. The CE requirements for municipal advisors align with existing CE requirements for municipal securities dealers and seek to reduce regulatory overlap for municipal advisors who may also act as dealers.
“Ensuring that municipal advisor professionals are regularly receiving training on current regulations and market activities is in the best interests of the state and local government issuers relying on their advice,” said MSRB Executive Director Lynnette Kelly in a press release announcing the requirement change. “The new CE requirements are an important piece of the MSRB’s comprehensive regulatory framework for municipal advisors.”
For more information about the MSRB requirements, please review the regulatory notice, visit our website or contact a Quest CE Sales Executive at 877-593-3366 or e-mail firstname.lastname@example.org. To view Quest CE’s MSRB course catalog, click here.
About Quest CE
For over thirty years, Quest CE has been the premier provider of compliance training and tracking solutions to the financial services industry. In addition to offering on-demand insurance and designation continuing education, Quest CE provides a complete spectrum of proprietary technology solutions for managing compliance risk exposures.
Serving more than 1,000 leading insurance carriers, broker-dealers, banks, and other financial institutions, Quest CE is committed to providing advanced custom solutions at cost effective rates, while providing a level of service that greatly surpasses that of our competitors. Quest CE is the single source solution for organizations’ training and compliance needs.
For more information on Quest CE, visit www.questce.com