According to FINRA, Arnold Frank Feldman was fined $5,000 and suspended from association with any FINRA member firm for one month for falsely certifying completion of continuing education requirements.

Feldman certified to the State of New York that he had personally completed 15 hours of continuing education required to renew his state insurance license. In reality, another person completed that continuing education on his behalf.

Continuing education requirements exist to ensure that financial professionals maintain current knowledge of regulations, products, and best practices. When professionals have others complete their required training, it undermines the purpose of these requirements and means the professional may lack knowledge they should have.

By falsely certifying that he completed the training himself, Feldman made a material misrepresentation to regulators. This conduct violates FINRA rules requiring honesty and integrity in dealings with regulators.

The one-month suspension has already been served. While this sanction is less severe than the bars imposed for refusing to cooperate with investigations, it still reflects FINRA's view that dishonesty regarding compliance requirements is a serious matter.

Investors should be aware that their financial professionals are required to complete ongoing education. This case is one of several in January 2025 involving representatives who had others complete their continuing education, suggesting this may be a more widespread problem that warrants attention.