The Financial Industry Regulatory Authority is providing individuals with a way to return to the industry through its Maintaining Qualifications Program (MQP), reports Think Advisor.
FINRA established the MQP in 2022 to provide those with terminated FINRA registrations with the option of maintaining their qualifications for up to five years by completing annual Continuing Education requirements.
Since its inception, nearly 20,000 participants have enrolled, including more than 3,300 in the second enrollment period. Of that total, over 900 people have returned to the industry.
“MQP gives industry professionals a flexible path back to the industry,” said Joe McDonald, FINRA’s Senior Director of Credentialing, Registration, Education and Disclosure, Qualifications and Exams. “The second enrollment period extends that opportunity to individuals to enroll and keep their FINRA registrations current through continuing education after having taken time away from the industry to balance life’s other demands.”
FINRA said the MQP is currently open for eligible individuals during the second enrollment period until December 31, 2023. The second enrollment period is available to those who terminated their registration between March 15, 2020, and March 14, 2022.
Those who are eligible can enroll in the MQP and monitor their CE requirements through their Financial Professional Gateway account. When an individual returns to a member firm, there is no need to retake qualification exams to become registered.
Currently, 18,612 participants are enrolled in MRP. 34.1% of them are female and 65.9% are male.
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