Continuing Education

Once a person is registered, CE keeps the registration current. The Series 24 tests two programs: Regulatory Element timing and Firm Element design.

Regulatory Element

The Regulatory Element is FINRA-set CE content delivered through the FinPro online system. Key features:

• Each registered person must complete the Regulatory Element annually by December 31 for each registration category held
• For a first registration, the standard first deadline is December 31 of the following calendar year. A person first registered in March 2026 must complete it by December 31, 2027
• Content is set by FINRA and the CE Council
• Topics for the upcoming year are published by October 1
• Failure to complete by year-end results in CE Inactive status, meaning the person cannot perform any activity requiring registration until CE is completed
• Applies to permissively-registered persons under the permissive-registration provision as well

Exam Tip: Gotchas

• CE Inactive does not terminate registration. A person on CE Inactive remains an associated person subject to FINRA jurisdiction; they simply cannot transact securities business until they complete the overdue Regulatory Element.
• Each category held is a separate annual completion. A Series 24 principal who also holds the Series 7 owes two Regulatory Element completions per year, not one.

Firm Element

The Firm Element is firm-designed CE that supplements the Regulatory Element. Each member must develop and administer a written training plan:

• Covers all registered persons
• Evaluated and updated at least annually
• Plan must address:
  • Size, structure, and scope of the firm's business
  • Regulatory developments and the topics covered in the prior year's Regulatory Element

Two adjacent training programs may count toward Firm Element:

• Training relating to the anti-money-laundering (AML) compliance program
• The annual compliance meeting

Documentation: Firm Element materials and completion records are subject to the broker-dealer record retention requirement.

Think of it this way: The Regulatory Element is FINRA's standardized content; the Firm Element is the firm's own curriculum tailored to its specific business. A firm that runs a complex options book will design Firm Element training around options supervision; a mutual-fund-only firm will focus on suitability and Reg BI. Both elements run in parallel each year.

Exam Tip: Gotchas

• The Firm Element written plan must be evaluated and updated annually. A plan that has not been revisited in 18 months is a Firm Element violation, even if the underlying training topics have not changed.
• AML training and the annual compliance meeting can count toward Firm Element. They do not create the obligation; they help satisfy it.

Related Compliance Provisions

A handful of adjacent rules round out the registration-system compliance picture:

• Member Filing and Contact Information Requirements: Members must designate and maintain a primary contact for FINRA via the Firm Gateway
• Effect of Suspension or Bar: A member may not associate with a barred or suspended person in any capacity inconsistent with the sanction (including clerical or ministerial).
  • It may not pay the person salary, commissions, or other remuneration accruing during the sanction period.
  • Narrow exceptions cover insurance or medical plan payments, legal-fee indemnity, an arbitration award or court judgment, and pay shown to have accrued before the sanction that is unrelated to the misconduct.
• Misleading Information as to Membership or Registration: Prohibits filing false or misleading registration information; ongoing duty to correct

Exam Tip: Gotchas

• The no-pay rule for barred persons is broad. A barred rep cannot collect any commission accruing during the bar (even from existing book-of-business trail commissions) if the activity giving rise to those commissions occurred after the bar took effect.
• A misleading-registration-information violation attaches to both the firm and the individual. Filing a false Form U4, ignoring an amendment obligation, or misrepresenting registration status all trigger the rule, and the duty to correct is ongoing.

What Should You Check on Exam Day?

• Do you know the Regulatory Element is due annually by December 31 for each registration category held?
• Can you distinguish the FINRA-set Regulatory Element from the firm-designed Firm Element, which needs a written plan updated at least annually?