Both the 2022 Annual Compliance Meeting (“ACM”) and the 2022-2023 Firm Element continuing education (“CE”) program are available in RegEd for all Registered Representatives (“RRs”). This field notice explains these requirements and how to access them.
Please note the due dates for completing the ACM and CE, as they are different:
- Annual Compliance Meeting: complete by December 31, 2022
- Firm Element CE: complete by February 28, 2023
2022 ANNUAL COMPLIANCE MEETING
Login to RegEd (see below for instructions). Under the “My Requirements” section, find “Equity Services Inc. 2022 Annual Compliance Meeting”.
Click on the course to open the meeting in a new window. Ensure the volume on your device is working, as you must be able to hear the audio. As a reminder: ensure you complete the acknowledgement at the end of the presentation in order to receive credit for the meeting. If you don’t complete the acknowledgement, the system will not record your session as complete.
FIRM ELEMENT CE COURSE ASSIGNMENTS
All registered persons will complete the following courses:
Diminished Capacity: Recognizing and Responding to the Signs: As the number of Boomers in retirement grows exponentially, financial services firms increasingly struggle with issues relating to the elderly, including accommodating normal aging, identifying diminished cognitive and financial capacity, and recognizing and reporting elder abuse. Documenting suitable recommendations and rationale and a strict adherence to firm and regulatory requirements will allow you to serve your aging clients both sensitively and faithfully.
Switching, Second Edition (821_2): While switching itself is not illegal, if not done in the best interest of the client, it is both unethical and illegal. This course explains and discusses switching and its impact on customer accounts, suitability, record-keeping and reporting rules, and reviews some FINRA actions demonstrating how switching violation is disciplined.
Suitability of Variable Products (930): This course discusses the nature, benefits and risks of variable universal life insurance and variable annuities and focuses on suitability concerns involving these products. It also explains the SEC’s Regulation Best Interest, which imposes a higher standard of conduct when making recommendations to retail customers.
AML Annual Update: 2022 (35AU22): AML – The Anti-Money Laundering Annual Update: 2022 reviews FinCEN’s accomplishments during 2021 relating to its requirements under the AML Act of 2020. It discusses important FINRA enforcement cases against individuals and firms, emphasizing the conduct FINRA considers to violate AML rules.
FINRA: Ethical Considerations for Registered Representatives (EL_ELC170): This course presents six common ethical principles and selected decision-making models for registered representatives to consider when facing ethical dilemmas. Scenarios demonstrate how these models can be practically applied to common ethical challenges faced by securities professionals.
SINGLE SIGN-ON (SSO) WITH REGED
Use your NLG login credentials to access your agent portal. From the home page, click on “Training”. Under “Continuing Education”, find and click “RegEd Courses”.
This will bring you to your RegEd dashboard. From there you can launch your Firm Element courses.
If, for some reason, you have a problem with SSO, you can still access your courses directly through RegEd’s website:
- Go to www.reged.com:
- Look for a welcome email from RegEd
- Click “Secure Login” à “RegEd Compliance Management”
- At the login screen:
- Username: your ESI rep code (included in your welcome message from RegEd)
- Password: “Welcome#2022” (you will be prompted to change this upon login)
- If you did not receive an email with your username, click “Username” on the login screen:
Provide your NLG email address and click “Submit”. You will receive an email with your username.
RegEd customer support is available Monday-Friday, 8:00am to 8:00pm EST. Technical questions with the RegEd website can be directed to RegEd Customer Service at 800-334.8322 or email@example.com. RegEd’s Web Chat feature is available at www.reged.com/contactus.
FREQUENTLY ASKED QUESTIONS
How long do I have to complete the Annual Compliance Meeting?
The Annual Compliance Meeting must be completed by 12/31/2022.
How long do I have to complete the Firm Element courses?
The Firm Element courses must be completed by 2/28/2023.
What if I miss the due date?
A RR who has not completed the Annual Compliance Meeting by 12/31/2022 or the Firm Element courses by 2/28/2023 may be subject to disciplinary action.
How do I pay for my courses through RegEd?
The cost of the Firm Element courses is covered in the ESI affiliation fee. You will not have to pay separately for your Firm Element courses.
Am I required to complete the Firm Element courses?
Covered Persons, as defined under FINRA Rule 1240(b)(1), are subject to the Firm Element CE program. At ESI, Covered Persons include all RRs in the field, and home office personnel working within ESI (registered and non-registered), and certain National Life employees registered as Operations Professionals.
Do I have to complete the Firm Element courses if I join ESI mid-year?
RRs whose ESI affiliation is active prior to 7/1/2022 must complete the program. Those whose ESI affiliation is active on or after 7/1/2022 are exempt from the current year’s Firm Element CE program
What if I recently completed FINRA’s Regulatory CE Session?
Regulatory Element training is an online exam administered by FINRA and must be completed on an annual basis. Firm Element training is an annual requirement administered by the broker-dealer and must be completed in addition to the Regulatory Element. Both are required elements of FINRA’s overall CE requirement.
Can I obtain insurance CE credit through RegEd?
Yes, your access to RegEd gives you the ability to order additional courses from their catalog of insurance CE courses, as well. You will be responsible for the cost of courses purchased to fulfill insurance CE requirements, and RegEd will bill you directly. Additional fees for CE credits may vary depending on the state(s) requested.
What if I am having system issues?
For technical assistance with the RegEd website or questions on insurance CE credit, RegEd customer support is available Monday-Friday, 8:00am to 8:00pm EST. Technical questions with the RegEd website can be directed to RegEd Customer Service at 800-334.8322 or firstname.lastname@example.org. RegEd’s Web Chat feature is available at www.reged.com/contactus.
Will my courses through RegEd fulfill certain National Life requirements?
No, National Life maintains a separate AML requirement, apart from ESI’s Firm Element curriculum. Your National Life Annual E&O update and AML renewal can be easily updated in one system. Please contact National Life’s Compliance group for information on taking the 2-year AML renewal for National Life.
Additional Questions? Please feel free to contact Christine Embling at email@example.com.
CLICK HERE TO VIEW FIELD NOTICE 2022-26 IN FULL
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