The Securities Industry and Financial Markets Association is in discussions with the Securities and Exchange Commission and the Financial Industry Regulatory Authority to establish the first training, licensing and continuing education program for operations executives at financial firms.

Licensing could become effective in January. "As our industry grows more complex, the operations staff, which manages the processes, becomes more important," said Nyron Latif, managing director at Goldman Sachs and chairman of the 2010 Sifma operations committee. Latif spoke at the Sifma ops show in Palm Desert, Calif., on Wednesday and Thursday.

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