On July 22nd, the Financial Industry Regulatory Authority announced that the SEC has approved its proposal to establish a registration category and qualification examination requirement for certain operations personnel. The proposal also adopts continuing education requirements for such operations personnel and adopts NASD Rule 1120 (Continuing Education Requirements) as FINRA Rule 1250 (Continuing Education Requirements) in the consolidated FINRA rulebook. The changes are effective October 17, 2011. FINRA Regulatory Notice 11-33.