Question

Adrian, a registered representative with Appalachia Advisors, LLC, (a FINRA member firm) has received a notification that he must complete his regulatory element CE within 120 days. If Adrian fails to complete the CE within the specified period, what will happen to Adrian's registration?

1) FINRA will normally grant Adrian a 30-day extension of time.
2) FINRA will deactivate Adrian's registration until the requirements of the program are met.
3) Adrian will not be allowed on the firm's premises until the requirements of the program are met.
4) The member firm must suspend Adrian until the requirements of the program are met.

Answer 1

FINRA will deactivate Adrian's registration if he fails to complete the Continuing Education within the specified 120-day timeframe, preventing him from associating with a member's investment banking or securities business until the CE requirements are met.

Step-by-step explanation:

If Adrian, a registered representative with Appalachia Advisors, LLC, does not complete his regulatory element Continuing Education (CE) within the 120-day period, the consequence is that FINRA will deactivate Adrian's registration until the requirements of the program are met. This means that Adrian would not be permitted to engage in or associate with a member's investment banking or securities business until the CE requirements are fulfilled. It's also important to note that FINRA does not normally grant extensions, so Adrian must comply within the specified timeframe, or face a deactivation of his registration.