A Bahamian financial services provider has met with the Securities Commission to discuss the enhanced qualification requirements for industry participants.
The NASTAC Group, the financial services training provider headed by Reece Chipman, the Centreville MP, said in a statement that persons wishing to obtain a Series 7 licence will now have to take two examinations from October 1, 2018.
It explained that FINRA, the US regulator for broker/dealers, will require persons to sit the Securities Industry Essentials exam as a prerequisite to taking any of the licensing exams. This introductory-level exam assesses a candidate's knowledge of basic securities industry information, such as types of products and their risks, market structures, regulatory agencies and their functions, and prohibited practices.
The NASTAC Group also discussed implementation of continuing education policies with the Securities Commission, plus its introductory cryptocurrency and bitcoin course that is scheduled to begin in October.
CAPTION:
From L to R: Derek Mcintosh; Christina Rolle, Securities Commission executive director; Reece Chipman, managing director, The Nastac Group; Omara Bingham, Securities Commission's manager of securities and financial services providers; and Oshane Locke, training administrator for The Nastac Group
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