FINRA periodically reviews and, if necessary, updates the content outlines for qualification examinations to ensure they accurately reflect qualified individuals’ roles, responsibilities and job functions.  FINRA has chosen the qualification exams for Equity Traders (55) and FinOps (27, 28) for updates. Series 27, 28, 55. Starting in April 2012, FINRA will conduct surveys to seek input from currently registered individuals to help inform updates to the Series 27, 28, and 55 qualification examinations.  Through these surveys, the first of which is for the Series 55 qualification examination, FINRA intends to gather information from currently registered individuals regarding their roles, responsibilities, and job functions, and to use the information to update the related qualification examinations. Surveys are being sent to persons who current have Series 27, 28, and/or 55 registrations.  Recipients are encouraged to respond, to help ensure that qualification examination content accurately measures competence in a  particular area based on the roles, responsibilities and job functions of registered individuals currently acting in those capacities.

Series 55. The Equity Trader examination qualifies a representative to engage in proprietary trading and the execution of transactions on an agency basis in equity, preferred or convertible debt securities otherwise than on a securities exchange.  It also qualifies a representative or principal to directly supervise such activities. Series 27. The Financial and Operations Principal examination, qualifies a principal to supervise a member firm’s financial and operational management Series 28. The Introducing Broker-Dealer Financial and Operations Principal examination, qualifies a principal to supervise the financial and operational management of a member firm that does not operate pursuant to SEA Rules 15c3-1(a)(1)(ii), 15c3-1(a)(2)(i), or 15c3-1(a)(8).

Direct questions to: Patricia Monterosso, Mgr of Qualification Examinations - (212) 858-4086. Click for referenced document: [FINRA InfoNote, 4/2/12].