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Volume XI, Number 267

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Remote Online Testing Available for Candidates Seeking to Take Futures Industry Proficiency Examinations

On January 19, the National Futures Association (NFA) issued Notice to Members 1-21-03, announcing that remote online testing is now available for futures industry proficiency. The exams include Series 3, Series 30, Series 31, Series 32 and Series 34, which FINRA administers on behalf of NFA. Tests also may continue to be taken at a local test center. The availability of remote online testing has not affected NFA’s Swaps Proficiency Requirements.

Online testing will be delivered and remotely proctored by FINRA’s testing provider, Prometric. Prometric allows candidates to use a personal or firm-provided, webcam-equipped computer to take proficiency exams remotely. Prometric staff are able to proctor each exam by using the webcam and other online tools.

To be eligible for an online testing appointment, candidates must not have a concurrent appointment at a test center and must meet FINRA’s technical and remote environment requirements. Candidates who are currently scheduled to take an exam at a test center but wish to change to an online testing appointment should confirm that they meet the technical and remote environment requirements and are aware of any rescheduling policies before cancelling a test center appointment. Firms considering online testing through their network and firm-issued equipment should review FINRA’s technical requirements pertaining to equipment, networking and information security.

See the NFA Notice. See the NFA’s Swaps Proficiency Requirements. Additional details regarding the online testing requirements and appointment scheduling are available on FINRA’s website.

 

©2021 Katten Muchin Rosenman LLPNational Law Review, Volume XI, Number 22
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About this Author

Kevin M. Foley, Finance Lawyer, Katten Llaw Firm
Partner

Kevin M. Foley has extensive experience in commodities law and advises a wide range of clients, both in the United States and abroad, on compliance with the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC) affecting traditional exchange-traded products, as well as the over-the-counter markets involving swaps and other derivative instruments. His clients include futures commission merchants, derivatives clearing organizations, designated contract markets, foreign boards of trade and an industry trade association.

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312-902-5372
Elise Michael, Katten Law Firm, New York, Finance Law Attorney
Associate

Elise Michael represents clients in the financial services industry. Prior to joining Katten, Elise was at J.P. Morgan Chase, where she supported the Private Bank’s advisory and alternatives businesses.

While in law school, Elise was a corporate scholar in the Samuel & Ronnie Heyman Center on Corporate Governance and the managing editor of the Cardozo Arts & Entertainment Law Journal. She also served as an intern with the US Commodity Futures Trading Commission (CFTC).

212-940-6610
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