| Course | Level | |
|---|---|---|
| A Guide to Professional Ethics | Overview | |
|
By outlining the basics of professional ethics, this course gives an explanation of the importance of ethics to today's financial professional. 27 10 - Introduction to Ethics
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| A Professionals Guide to Ethical Decision Making | Overview | |
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This course provides representatives with an overview of the characteristics of ethics and professionalism. This course discusses the standards by which a professional should be judged and a study of ethics on its philosophical and compliance levels. The objective of this course is to provide participants with a reasoned analysis of the connection between professionalism and ethical practices. 62 38 - Professionalism |
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| A Supervisors Role in Deterring the Spreading of False Rumors and Market Manipulation | Intermediate | |
|
This course is intended for retail representatives, institutional representatives, investment advisors, supervisors or any financial service industry professional. This course will look at the problems of the spreading of false rumors and the aftermath that has followed. It will review the SEC's response to this matter and the steps regulators are taking to stop the rumors. Specifically, the course will look at FINRA Rule 2010 and FINRA Rule 6140. Lastly, this course will identify steps organizations must take to ensure their employees are not a party to the spreading of false rumors. All of the practices outlined in this course will help member firms avoid the pitfalls and problems regarding the spreading of false rumors. 18 10 - Deterring False Rumors & Market |
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| Annual Compliance Reminders For Institutional Registered Representatives - Vol. 2 | Intermediate | |
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This course is designed to remind institutional registered representatives of their compliance obligations and draws on recent FINRA enforcement actions to demonstrate the consequences of failing to meet those obligations. 33 20 - The reminders related to social media and public communications;
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| Anti-Money Laundering and Red Flags for Institutional Clients | Overview | |
|
This course is directed to individuals working with institutional clients who must become more aware of the requirements to detect and prevent money laundering. Specifically, this course complies with the USA Patriot Act requirements for ongoing anti-money laundering training. The course begins with a review of money laundering regulations and the organizations charged with enforcement. The course then outlines the various money laundering stages and suspicious activities that can help personnel detect and prevent money laundering. Finally, the course outlines responsibilities for representatives dealing with institutional clients focusing on knowing your customer, information verification, due diligence, and finally a case study identifying the importance of the following rules and potential problems that may occur if AML procedures are not followed. 28 18 - History of Anti-Money Laundering Regulations
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| Anti-Money Laundering and Red Flags for Institutional Clients - Vol. 2 | Overview | |
|
This course is designed for registered representatives of institutional broker-dealers. The course begins with a review of basic anti-money laundering concepts, and then shifts to the representative's role in preventing, detecting and reporting suspicious activities that may point to illegal money laundering. The course includes a case study based on a real-world example of Anti-Money Laundering failures relating to institutional customer accounts. 57 48 - What is Money Laundering?
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| Anti-Money Laundering and the Red Flag Rule | Overview | |
|
This course is designed for registered representatives, supervisors, and institutional sales representatives. The objective of this course is to raise the awareness of anti-money laundering regulations so that representatives have the knowledge to prevent and detect money laundering. This knowledge will help ensure that each representative and their employer do not become involved in investigations or scandals that could harm the company's reputation or risk client relationships. After completing this course, representatives will have a better understanding of anti-money laundering regulations, including the Know Your Customer rule, as well as be able to better recognize suspicious activities to protect themselves from the consequences of being linked in any way to money-laundering activities. 40 20 |
||
| Anti-Money Laundering for Financial Services Professionals | Overview | |
|
This course is intended for retail representatives, investment advisors, supervisors or any financial service industry professional interested in learning about industry rules regarding anti-money laundering rules and regulations. This course will examine anti-money laundering regulation in the broker-dealer industry, specifically focusing on the USA PATRIOT Act of 2001 and FINRA Rule 3011. 62 40 - What is Money Laundering?
|
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| Anti-Money Laundering Regulations and Ramifications | Overview | |
|
This course is intended for retail representatives, investment advisors, supervisors, or any financial service industry professional interested in learning how industry rules regarding anti-money laundering rules and regulations. The course discusses "red flags" that may indicate potential money laundering activities, as well as the penalties that can be imposed for violating federal money laundering laws. 38 18 - Overview of Money Laundering
|
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| Anti-Money Laundering: Beneficial Ownership | Intermediate | |
|
This course will review the customer due diligence (CDD) regulations that have been set by organizations developed to combat criminal use of financial systems around the world. Additionally, the course will focus on the most recent regulations adopted by the U.S. Treasury. 34 24 - AML organizations
|
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| Anti-Sexual Harassment Training | Intermediate | |
|
This training has been developed to specifically cover sexual harassment in the workplace, no matter your role. It covers definitions of sexual harassment, what constitutes sexual harassment, training, the role of culture, and a high level overview of the #metoo movement. 37 17 |
||
| Best Execution and Debt Mark Ups | Overview | |
|
This course is intended for registered representatives acting in an agent (broker) capacity, as well as individuals who work as dealers, such as market maker specialists and supervisors. Best execution is an obligation of any dealer working to execute transactions on behalf of their clients. Closely related to best execution in the debt markets are the mark-ups or mark-downs that dealers take in the course of performing a transaction. This course will explore both topics. Additionally, it will discuss the rules and regulations surrounding these rules as well as the processes by which best execution, prevailing market prices and appropriate debt mark-ups/mark-down are determined as well as illustrating how FINRA obligations for best execution are to be applied and demonstrated through regular and rigorous reviews of transactions against both FINRA rules and each member firms established policies and procedures. 50 30 es and Regulations Governing Best Execution - Best Execution and Technology - TRACE Reporting System - FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) - Rules Governing Debt Mark-ups/Mark-downs - Contemporaneous Cost - Hierarchy Pricing Factors - Determining Prevailing Price - 5% Policy |
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| Books and Records: Representative Responsibilities | Overview | |
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This course is for registered representatives, supervisors, compliance staff, senior management and firm principals that are required to comply with FINRA Rules regarding Books and Records. This course explains the provisions governing the record keeping and retention of customer accounts, written complaints and other similar correspondences. Participants will review registered persons' obligations to maintain records of actions undertaken in their capacity as representatives of the firm. Scenarios are additionally used to help illustrate and reinforce compliance with record keeping and retention requirements involving electronic media. 29 17 - SEC Record Retention Rules
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| NEW! - Books and Records: Turning the Page | Overview | |
|
This course is intended to reinforce the learning and develop a deeper understanding of the topics involved in books and records, focusing primarily on customer account applications, approval and maintenance of customer account records, and order ticket documentation. This course is intended for managers, supervisors, compliance staff, and those financial professionals that desire a deeper understanding of security industry books and records rules. The topics covered will be relevant to FINRA member broker-dealers, SEC-registered investment advisors, and dual registrants or affiliated firms in both categories. In this course case studies based on actual enforcement actions where the failure to create and preserve relevant books and records was a material factor. This course will cover in greater detail the overlap of certain regulatory regimes with B/Ds and RIAs such as obligations under BSA/AML and FINCEN Beneficial Ownership Rules; issues related to the use of personal email/messaging/social media accounts and failures to properly archive those communications; the impact upon books and records caused by the implementation of Regulation BI and the SEC Staff Bulletin from April 2018 on Standards of Conduct will be considered (especially documenting the rationale for recommendations and/or strategies); and certain technical aspects of records retention including recently adopted rule amendments, along with various best practices recommendations. 38 23 |
||
| Changes to FINRA Supervision Rules | Overview | |
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This course provides information for registered principals and registered representatives regarding four new FINRA rules related to supervision and supervisory procedures. Please note: This course includes audio on each page. 43 38 - FINRA Rule 3110 (Supervision)
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| Changes to FINRAs Public Communication Rules for Registered Representatives | Overview | |
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Following a multi-year effort by the Financial Industry Regulatory Authority (FINRA) to streamline and organize its Communication Rules and incorporate portions of the interpretive information from former NASD Rules, the U.S. Securities and Exchange Commission (SEC) has approved a substantial reworking of the current rules governing communications with the public. This course provides registered representatives with an understanding of the recently-approved changes to the rules relating to public communications by a firm's associated persons. 27 22 - The restructuring of the communication categories
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| Client Suitability | Overview | |
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This course is intended for retail representatives, institutional representatives, investment advisors, supervisors or any financial service industry professional that makes investment product recommendations to clients. Various investments have different characteristics. Some provide a steady current income, while others give their total return in capital appreciation. Some are very unlikely to decline in value, while others may be more risky. This course discusses how to determine the suitability of the various investments to different clients and examines the risk characteristics associated with an investment company portfolio. 25 10 - Current Income and Preservation of Capital |
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| Client Suitability for the Investment Advisor | Overview | |
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When a client wishes to open any account with a brokerage firm, the investment adviser must fill in the account form with the clients personal information, including his or her income levels, investment objectives, and financial goals. The investment adviser uses this information to help the client evaluate the appropriate investments to fit his or her needs. This course discusses how to determine the suitability of the various investments to different clients and examines the risk characteristics associated with an investment company portfolio. 28 14 - Objectives |
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| Code of Conduct | Overview | |
|
his course is intended for retail representatives, institutional representatives, investment advisers, supervisors or any financial service industry professional. All professions have a code of conduct to which its members must adhere. This course stresses the importance of holding each representative of the company accountable for maintaining a standard that all must comply with. 15 5 - How to work with Prospects and Clients |
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| NEW! - Communicating with Clients in the Digital Age | Overview | |
|
This course delves into the complex world of off-channel communications, providing financial professionals with the knowledge and tools needed to navigate this challenging area. Participants will explore the definition, risks, and best practices for managing off-channel communications, including the use of personal devices and unmonitored applications. Through a series of interactive modules, learners will gain a deep understanding of the regulatory framework governing these communications, with insights into recent enforcement actions by bodies such as FINRA and the SEC. The course covers crucial aspects such as the development of robust monitoring systems, the importance of record retention, and strategies to prevent and address compliance violations. Highlighted with real-world scenarios and knowledge checks, participants will engage in practical exercises to apply their learning, preparing them to effectively advocate for compliance within their firms. 59 28 |
||
| Communications with the Public: Best Practices for Wholesalers | Intermediate | |
|
As a registered representative who markets or sells financial products to other broker-dealers, you probably do not communicate directly with the public. Even so, it is still important to understand FINRA's rules surrounding communications with the public, as the communications you create may end up in the hands of a retail customer. This course discusses FINRA's three communication categories, which include retail communications, institutional communications and correspondence. 33 21 - Communication Categories
|
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| Compliance Safety Measures When Working With Senior Investors | Overview | |
|
FINRA and the SEC have both made senior investor abuse a top examination priority. This course discusses the unique needs of senior investors, steps advisors should take when working with this growing demographic, and the serious implications of FINRA and the SEC's recent influx of disciplinary actions and investor alerts. 39 27 - Needs of Senior Investors
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| Conflicts of Interest | Overview | |
|
This course is intended for retail representatives, institutional representatives, investment advisers, supervisors, or any financial service industry professional. A registered representative wants clients to trust his or her recommendations. Past studies show that trust is the number one reason cited by investors for choosing their financial adviser. In this course, potential conflicts of interest will be discussed, how they can be avoided and the importance and benefits of navigating through these challenges. 26 12 - Overview of Conflicts of Interest in the Securities Industry
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| Customer Data Protection | Overview | |
|
This course is intended for retail representatives, institutional representatives, investment advisers, supervisors or any financial service industry professional interested in learning how industry rules apply to the use and supervision of customer data. Under SEC Rule 30 of Regulation S-P, member firms and other financial institutions, are required to adopt written policies and procedures that address safeguards for the protection and disposal of customer records and information. As a registered representative, you need to know and follow your firm's policies and procedures for customer data protection. Failing to protect nonpublic personal information (NPI) subjects customers to identify theft. This course discusses ways in which client data can be compromised should you fail to recognize and implement security measures in your practice. Making certain to implement firm requirements with an ability to recognize and avert potential vulnerabilities will help ensure proprietary and customer data is not compromised. 42 36 - Identity Theft
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| Cybersecurity | Intermediate | |
|
This course will examine various targets and types of cyber-attacks, their threat to the financial industry, disclosure requirements for FINRA registered firms, regulatory measures to prevent cybercrimes and practical steps toward cybersecurity. We will also discuss recent FINRA guidance, including the presence of cybersecurity in the Regulatory and Examinations Priorities Letter, the Report on Cybersecurity Practices, and Investor Alerts warning investors about cyber threats. Practical advice for representatives on steps to reduce risk will be discussed, as well as the consequences to firms for failing to protect against cybersecurity threats. 35 27 - Unauthorized access
|
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| CYBERSECURITY & FINRA | Overview | |
|
This course will examine various targets and types of cyber-attacks, their threat to the financial industry, disclosure requirements for FINRA registered firms, regulatory measures to prevent cybercrimes and practical steps toward cybersecurity. We will also discuss recent FINRA guidance, including the presence of cybersecurity in the Regulatory and Examinations Priorities Letter, the Report on Cybersecurity Practices, and Investor Alerts warning investors about cyber threats. Practical advice for representatives on steps to reduce risk will be discussed, as well as the consequences to firms for failing to protect against cybersecurity threats. 31 22 - Unauthorized access
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| Cybersecurity for Registered Representatives | Intermediate | |
|
This course examines the various targets and types of cyber attacks, their threat to the financial industry, disclosure requirements for FINRA registered firms, regulatory measures to prevent cyber crimes and practical steps toward cybersecurity. 40 32 - Unauthorized access |
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| Cybersecurity: Phishing | Intermediate | |
|
As firms increase reliance on technology to conduct their operations, the risks to firms associated with cybersecurity continue to increase. This course provides representatives with background knowledge of cybersecurity risks and best practices, including phishing tactics, vendor management controls, information sharing and much more. 21 17 - Cybersecurity
|
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| Electronic Communications for Registered Representatives | Overview | |
|
This course is intended for retail representatives, institutional representatives, investment advisers, supervisors or any financial services industry professionals interested in learning how industry rules apply to the use and management of electronic communications with the public. FINRA developed a number of guidelines regarding electronic communications for registered representatives. This course is designed to make registered representatives aware of the compliance requirements and potential liabilities when using the Internet and other electronic communications. 31 16 - Changes with Technologies
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| ERISA Qualified Plans - The Financial Advisor's Role | Overview | |
|
This course provides an overview of an ERISA fiduciary, the obligations of a fiduciary, and DOL guidance for financial advisors who provide non-fiduciary information and services. It also discusses IRA rollovers from qualified plans, and the DOL's proposal to expand the definition of a fiduciary to those who recommend such rollovers or otherwise provide advice to IRA clients. 32 17 - ERISA covered plans
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| Ethics and Professional Conduct | Overview | |
|
This course is intended for registered representatives, investment advisers, compliance staff, and supervisors that work with retail investors. This course covers some of the basics of ethics and looks at past legislation that has brought us to where we are today. By outlining each professional's responsibilities, this course sheds light on why all members of any profession must maintain and adhere to professional ethical standards. Please note: This course includes audio on each page. 69 39 - An Introduction to Ethics
|
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| FACT Act of 2003 - The Red Flag Rules | Overview | |
|
This course provides information on the regulations of sections 114 and 315 of the FACT Act program, regarding the detection, prevention and mitigation of identity theft. Topics discussed include: regulations, guidelines, identification of red flags and much more. 25 21 - Defining financial institutions, creditors, and covered accounts
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| Fails and Fines: Regulatory Do's and Don'ts | Overview | |
|
In this course, we'll review some of the most outlandish disciplinary cases from 2015 and identify the source of each violation. 29 21 - Ex-employee terminates boss through Web CRD
|
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| Financial Exploitation of Specified Adults & Customer Account Information (FINRA Rules 2165 & 4512) | Overview | |
|
New FINRA Rule 2165 addressing the protection of 'specified adults,' including seniors, takes effect February 5, 2018. The new Rule, as well as related amendments to books and records requirements in Rule 4512, impose new requirements on FINRA member firms designed to avoid and mitigate the financial exploitation of seniors and other vulnerable adults. 37 35 - Background
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| NEW! - FINRA Rules 3130 and 3120: Supervisory Controls | Intermediate | |
|
This course is intended for registered representatives, supervisors, compliance staff, senior management, and firm principals affiliated with broker-dealers as a part of their mandatory requirement to identify principals that will be responsible for establishing, maintaining and enforcing a system of supervisory control policies and procedures. The objective of this course is to provide representatives with a complete understanding of Rule 3120 and Rule 3130. Rule 3120 requires that firms identify principals that will be responsible for establishing, maintaining and enforcing a system of supervisory control policies and procedures that test and verify a firm's supervisory system. Rule 3130 requires that the CEO of a broker-dealer certify on an annual basis that the firm has a process in place that "establishes, maintains, reviews, modifies and tests internal policies and procedures for compliance with applicable rules and regulations." Representatives, at the completion of the course, will be able to identify the specific guidelines and requirements of each rule. 24 18 - Rule 3120 and 3130 Definition
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| FINRA Suitability Rule 2111: An Institutional Focus | Overview | |
|
The Financial Industry Regulatory Authority (FINRA) recently implemented a new securities industry rule governing the obligation of broker-dealers and their registered representatives to make "suitable" investment recommendations to customers. FINRA Rule 2111, which went into effect on July 9, 2012, broadens the scope of the predecessor suitability rule, NASD Rule 2310, in a number of important respects. This course highlights the key provisions of FINRA's new suitability rule and recommends a number of ways to document compliance and mitigate risks related to unsuitable investments. 30 24 - The New Rule
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| FINRAs Suitability and Know Your Customer Rules (FINRA Rules 2111 and 2090) | Overview | |
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In this course, representatives will discuss the two new FINRA Rules that were approved by the SEC to be incorporated into the FINRA consolidated rulebook: FINRA Rule 2090 - Know Your Customer and FINRA Rule 2111 - Suitability. Both rules incorporate and expand upon standards that were contained in earlier NASD and NYSE Rules. Upon completion of this course, representatives will have a better understanding of the Know Your Customer requirements stated in FINRA Rule 2090, including what is meant by the terms reasonable diligence and essential facts, as well as FINRA Rule 2111's suitability requirements, including: identifying the three levels of suitability; knowing when the suitability requirements apply to a customer relationship; and recognizing the obligations of the firm and the associated person under the Rules. 32 24 |
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| Gifts and Gratuities: Guidance on FINRA Rule 3220 | Overview | |
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This course is intended for registered representatives, institutional representatives, investment advisers, supervisors or any financial service industry professional interested in learning how to achieve compliance with FINRA rules on gifts and entertainment. FINRA Rule 3220 strictly prohibits broker-dealers from giving gifts or gratuities in excess of $100 per year to any person where that gift is in relation to the business of the recipient's employer. As such, this course helps distinguish what types of items need to be recorded to avoid the unsavory practice of giving kickbacks or paying to obtain business. 21 8 - Overview of FINRA Rule 2330 |
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| Guide to Electronic Communications: Blogs, Bulletin Boards, Chat Rooms, Social Networks and Websites | Overview | |
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This course is intended for retail representatives, institutional representatives, investment advisers, supervisors or any financial service industry professional interested in learning how industry rules apply to the use and management of electronic communications with the public. FINRA has developed a number of guidelines regarding electronic communications for registered representatives. This course is designed to make registered representatives aware of the compliance requirements and potential liabilities when using the Internet and electronic communications. This course reviews the various rules and standards that cover electronic communications. Specific issues are covered concerning different methods of electronic communications. Additionally, the course will cover FINRA's rules and views regarding electronic communications in the various forms available today. 24 12 - An Overview of Electronic Communications |
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| Harassment and Discrimination in a Professional Environment | Overview | |
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This course provides an overview of sexual harassment and discrimination in the workplace: prohibited conduct; employee responsibilities; and the remedies available for employment discrimination. 68 58 - Sexual Harassment
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| Heightened Supervision: Who, When, Why, and How | Overview | |
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This course provides an overview of heightened supervision of representatives for all levels of supervisory, management, and compliance personnel. Specific topics covered in this course include: Recognizing situations involving new-hires and existing representatives that may call for heightened supervision; Recognizing the risks to the firm presented by these situations; Understanding how a heightened supervision plan should be designed to address the specific representative's situation and the risks to the firm thereof; Understanding who should (and should NOT) have knowledge of and involvement in a heightened supervision plan. 29 23 |
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| How to Work with Millennial Investors | Intermediate | |
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Generation Y, Echo Boomers, Generation Why?, Boomerang Generation or Millennials, whichever term used will define roughly the same thing: the youngest of the US working population. They are a new breed of investors that require new methods of investing their money, different than the strategies used with their parents. Learning to understand millennials helps to understand their financial goals. The biggest hurdle to jump: Millennials tend to be cynical of the importance and value of using financial advisors. This course prepares you to recognize and work with millennial clients the way they want to be worked with. 60 32 - Who are the Millennials
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| Identifying and Mitigating Conflicts of Interest | Overview | |
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Financial professionals need to identify the conflicts of interest that may be associated with their business activities, understand how to reduce or remove conflicts, and the necessity of disclosing any unresolved conflicts. This course outlines various types of conflicts of interests for various financial professionals, and methods of mitigating those conflicts. 27 23 - Conflicts Associated with Business Activities
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| Identity Theft Prevention and the Financial Services Industry | Overview | |
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This course is intended for anyone working in the financial services industry that may have contact with sensitive customer information. This course is beneficial for all firms, as training is required to comply with the Federal Trade Commission FACT Act Identity Theft Rules. This course examines the primary rules that protect customer information and the role that employees play in identifying identity theft red flags. Finally, the course uncovers the various methods used by hackers to steal customer identities. 31 19 - A Consumer Issue for Business
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| Identity Theft: It's Everyone's Business | Overview | |
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The federal financial regulatory agencies have adopted and enforced robust data security standards for entities under their jurisdiction. Protection of financial and personal customer information is a key responsibility and obligation of FINRA member firms. This course provides representatives with a comprehensive overview of identity theft, as well as the things they can do while conducting their day-to-day business to help ensure consumer data is kept out of the hands of criminals. 24 19 - Who pays the price?
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| Information Security: Protecting You, Your Clients, and Your Firm | Overview | |
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This course covers concepts to help registered representatives and supervisors understand procedures for protecting confidential personal customer information and detecting possible breaches in information security. It provides suggestions for what to do if customer information is compromised and steps to take to better protect this information. The objective of this course is to educate representatives on the importance of protecting client information. Information assets and physical property are constantly exposed to threats such as natural disasters, computer viruses and criminal actions. We can all contribute to managing the risks that come with these threats. Understanding your individual and professional responsibility is the first step in this contribution. Information security is an integral part of the services we provide and helps to protect our reputations and brands. 18 8 - Definition of Sensitive Information |
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| Insider Trading | Overview | |
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This course is intended for registered representatives, supervisors, sales associates, compliance administrators, new account managers and any financial service professional who is exposed to customers who may be corporate insiders or individuals who may possess material nonpublic information about their companies. This course reviews the background and scope of SEC anti-fraud standards prohibiting insider trading. Representatives will gain a thorough understanding of what is deemed illegal and legal insider trading. They will learn about the penalties imposed when violators are found guilty and who is harmed by illegal insider trading. 25 11 - SEC Governance |
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| Insider Trading: The Illegal Side | Intermediate | |
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This course provides an overview of what insider trading activity is and is not allowed, how insider trading laws have evolved, prevention of illegal activity through policies and education, the challenges of prosecuting criminal insider trading and a discussion of reasons for and against the legalization of insider trading. 35 23 - Definition of Illegal and legal insider trading |
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| Institutional Ethics | Overview | |
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This course is intended for registered representatives acting as institutional sales representatives, as well as investment advisers and their supervisors. This course focuses on ethical behavior and how it fits into the moral framework of industry rules. It explores both unethical practices and ethical practices for institutional sales representatives and outlines the ethical standards required when interacting with institutional clients. 23 10 - Definition
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| Investment Adviser - Fiduciary Responsibilities | Overview | |
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An investment adviser stands in a special relationship of trust and confidence with, and therefore is a fiduciary to, its clients. Understanding "fiduciary responsibility" is critical, because it is at the core of being a good investment adviser. In a very practical sense, if an adviser and the adviser's employees understand the meaning of being a fiduciary and incorporate this understanding into daily business operations and decision-making, clients should be well served. This course will clarify the history, scope, and liability associated with the fiduciary responsibilities of an investment adviser. 26 22 - Fiduciary standard
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| Investment Advisor Code of Ethics | Intermediate | |
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This course provides an introduction to the basics of the Investment Adviser's Act and is intended for Investment Advisor's, Investment Advisor Representatives, and Certified Financial Planners. Also of interest and beneficial to financial service industry professionals is how the standards may be changing as well as the latest developments in law(s). The objective of this course is to provide an overview of various definitions and regulations to define what is required of a financial services professional who falls under the Investment Adviser Act. 35 23 - Rule 204 |
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| Market Making | Advanced | |
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Market making is an important function in the stock trading industry. Market makers provide vital liquidity and ensure orderly markets. Furthermore, by reducing costs, increasing efficiency and broadening access, NASDAQ and its market makers have leveled the playing field for all investors, great and small. Market making requires a level of expertise and diligence not found in many firms. However, if these challenges can be met, a broker-dealer can earn substantial revenues and provide a very valuable service. This course provides an overview of the electronic communication network that links market makers together, as well as the varying price quotes and Market Maker Rules imposed by FINRA, NASDAQ and the SEC. 32 27 - NASDAQ
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| Monitoring and Supervision of Personal Securities Transactions | Overview | |
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The associated persons of broker-dealers have every right to invest and manage their own money any legal way they see fit. The full spectrum of investment options is available to industry professionals. However, the personal trading accounts of associated persons of broker-dealers are subject to disclosure, reporting and other restrictions. These rules are to ensure that associated persons do not take advantage of their position and gain an unfair edge on the investing public, and that any conflicts of interest are either avoided or disclosed. Failure to observe these rules could harm customers financially, and damage the credibility of a representative, a firm, or even the entire industry. 30 23 - Specific FINRA regulations regarding personal securities transactions |
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| NEW! - MSRB Rule G-3: Registration and Continuing Education Requirements | Overview | |
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The MSRB recently introduced substantial updates to its rules related to the registration of reps and principals, as well as Continuing Education (CE) requirements. This course will cover the changes, which are designed to bring MSRB rules in alignment with FINRA requirements related to registration and CE. Two highlights are a new procedure developed by FINRA that will enable individuals to allow their registration to lapse for up to five years without needing to requalify by examination and the establishment of a new annual Regulatory Element CE requirement. This course is intended for financial advisers, underwriters, broker-dealers, and compliance professionals. 44 35 |
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| Mutual Fund Fee Waivers | Intermediate | |
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This course covers the importance of applying mutual fund fee waivers that may be available to investors. Some mutual funds waive the front-end load (the commission or 'sales charge') on certain charitable and retirement accounts. When brokers fail to waive the fees or sell customers Class B and C shares that do not have upfront sales charges but are more expensive overall than Class A shares, FINRA violations occur. How this can occur - especially on a large scale, calls supervision into question. 45 41 - Review of mutual funds
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| Off-Channel Communications | Overview | |
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This course is designed to educate registered representatives of both broker-dealers and investment advisers about the compliance risks associated with off-channel communications. Despite the numerous regulatory actions taken against firms and their employees, and the ever-increasing level of monetary penalties assessed, unmonitored business-related off-channel communications continue to plague the industry. And regulators continue their ongoing crackdown on these practices. The course uses a situational scenario, as well as actual FINRA and SEC disciplinary actions, to illustrate behavior that may lead to regulatory violations and subsequent fines and sanctions. 46 29 - Compliance risks |
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| Online Identity Theft Scams | Overview | |
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This course is intended for retail representatives, institutional representatives, investment advisers, supervisors or any financial service industry professional interested in learning more about how to prevent online identity theft and what they need to do to ensure that they and their clients are not a victim of this crime. Identity thieves are stealing information from unsuspecting consumers in a number of ways. This course will show representatives how to spot some of the latest online identity theft scams targeting financial sector customers and how to avoid them. 24 15 - Impact of Technology
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| Outside Business Activities and Private Securities Transactions | Overview | |
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This course is intended to familiarize registered representatives and general securities supervisors with the rules regarding outside business activities and personal trading. It clearly defines what these activities can be and illustrates the importance of full disclosure and thorough supervision of these activities. FINRA's rule on outside business activities of an associated person provides regulatory guidelines for representatives to follow when engaging in a business activity that is not part of their work for the firm. This course will cover Rule 3270 and Rule 3280, outlining representatives' compliance responsibilities. 16 10 - FINRA's Rule on Outside Business Activities |
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| Outside Business Activities and Private Securities Transactions - Vol. 2 | Intermediate | |
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This course provides an overview of the restrictions and disclosure requirements surrounding registered representatives' business activities and private securities transactions, outside the scope of their employment. It focuses on the necessity for registered representatives to follow the regulations and firm policies that surround these activities, regardless of compensation, and to disclose those activities on their Form U4. 27 18 - Scope of activities |
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| Outside Business Activities and Private Securities Transactions - Vol. 3 | Overview | |
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This course will review Outside Business Activities and Private Securities Transactions. In this course, a Registered Representative will gain a more in-depth understanding of what is and what is not considered an Outside Business Activity, as well as a better understanding of Private Securities Transactions. We will look at these topics from a FINRA Member Firm standpoint and from the view of a Registered Representative. This course will also preview real-life FINRA Disciplinary cases of Registered Representatives that were in violation of disclosing an Outside Business Activity and/or performed a Private Securities Transaction. This will add perspective on the importance of adhering to FINRA Rules 3270 and 3280. 24 20 |
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| Preventing Customer Complaints: A Guide for Registered Representatives | Overview | |
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This course discusses the topic of customer complaints from a preventative standpoint, emphasizing best practices that representatives can embrace to reduce the likelihood of a complaint. The course also looks at steps that can be taken with an unhappy customer to avoid negative escalation, without resorting to unethical or noncompliant solutions. Specific topics covered in this course include: recognizing, avoiding and managing a situation that may lead to a complaint, the importance of documentation in preventing complaints, the right way to handle a pre-complaint grievance to make escalation to a complaint less likely, and a review of what to do when a customer does lodge a complaint. 31 27 - Knowing the Basics
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| Privacy, Confidentiality, and Information Security | Advanced | |
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This course outlines privacy and confidentiality rights and protections, as well as some of the latest threats and methods for protecting electronic data, including emails, wireless networks and mobile devices. 30 20 - Privacy rights
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| Qualified Plan Rollovers (2022) | Intermediate | |
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This course discusses the benefits and risks associated with different types of rollovers, eligible assets, options for rollover destinations and providers, and the focus by regulators on rollover-related advertising. Please note: This course includes audio on each page. 36 26 - Rollover risks and benefits
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| Quest Annual Compliance Reminders for Registered Representatives - Vol. 2 | Overview | |
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There are many rules and regulations that you as a registered representative must keep in mind when conducting business. They cover a wide variety of topics that you see every day and are related to sales practice issues, ethical decisions you make and even administrative and operational issues. This course uses scenarios adapted from actual FINRA disciplinary actions to remind registered representatives about their compliance obligations. Topics covered include: social media and public communications; trade authorizations; form U4 disclosures; outside business activities; private securities transactions; handling customer funds related to borrowing money from customers; and maintaining ethical behavior when fulfilling continuing education requirements. 33 20 - Social media and public communications;
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| Regulation Best Interest (Reg BI) and Associated Materials | Overview | |
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On June 5, 2019 the SEC approved a package of new rules and interpretations designed to improve transparency for retail investors. Included in this package are Regulation Best Interest (Reg BI), New Form CRS Relationship Summary (Form CRS), the Investment Adviser Interpretation, and a Solely Incidental Interpretation. This course will cover each of these rules in depth along with potential scenarios that one could encounter. 39 26 |
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| NEW! - Regulatory Trends in Crypto Assets | Overview | |
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This course presents the current status of U.S. regulation tied to crypto assets. It covers the types of products involved, the various regulators who claim jurisdiction, recent regulatory actions, and the risks and compliance issues associated with investments in these products. The course also covers anti-money laundering regulations that are specific to conducting business in crypto assets, including the concept of beneficial ownership and the requirements to collect, verify and maintain customer identity records. This course is appropriate for investment adviser reps, broker-dealer reps, compliance officers, and any individuals who need to increase their knowledge of this evolving field. 38 32 o Assets |
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| SEC Large Trade Rule 13h-1 | Overview | |
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The SEC's Large Trader Reporting Rule should be reviewed by corporations and individuals that exercise discretion over transactions in U.S. listed stocks and options. Affecting even a single trade can require a corporation or individual to register as a large trader. Rule 13h-1 requires large traders to register with the SEC by December 1, 2011 by filing Form 13H. Upon completion of this course, representatives will be able to define and explain SEC Rule 13h-1, be aware of trade and business criteria that would compel registration, assist in the implementation of 13h-1 policies and procedures and be better versed to monitor compliance with 13h-1 requirements. 31 20 - Rule 13H-1 Overview
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| SEC Rule 15c3-5: Market Access Rule | Overview | |
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In 2010, the SEC adopted a new market access rule, SEC Rule 15c3-5, which focuses on a practice through which broker-dealers allow their customer to gain direct access to the applicable exchange or alternative trading system or ATS, also known as "sponsored access". 15c3-5 prohibits broker-dealers from providing customers with "unfiltered" or "naked access" to an exchange or ATS and requires brokers with market access - including those who sponsor customers' access to an exchange or ATS - to put in place risk management controls and supervisory procedures to help prevent erroneous orders, ensure compliance with regulatory requirements and enforce pre-set credit or capital thresholds. This course discusses how Rule 15c3-5 is designed to meet the following goals: prohibiting all markets from displaying marketable flash orders; requiring that information about an investor's interest in buying or selling a stock be made publicly available, instead of just to a select group operating within a dark pool; identifying and providing information on certain large traders; promoting fair and efficient access to listed options markets and requiring a consolidated audit trail system to enable regulators to track information related to trading orders received and executed across the securities markets. 29 30 - Risk Management Controls |
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| Security Best Practices for Remote Workers Amid COVID-19 | Overview | |
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This course discusses the importance of security when working remotely and highlights some simple techniques that employees can employ to protect themselves while working from home. Additionally, we'll discuss the recent influx of phishing emails that have flooded inboxes since the COVD-19 outbreak and tips to avoid falling victim to a hazardous attack. 19 11 |
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| Senior Exploitation & Regulatory Concerns | Overview | |
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In this course, we'll discuss some of the major compliance concerns associated with today's aging population. More specifically, we'll highlight early warning signs of financial exploitation, recent disciplinary actions, and a survey conducted by NASAA. We'll also touch on FINRA's recent rule amendments and changes aimed at helping prevent elder financial abuse. 29 23 - Warning signs of financial exploitation
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| Social Media: Best Practices for Registered Representatives | Overview | |
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More than a fad, social media has emerged as a vital channel for communication and information exchange. Whether you are with a financial services firm that already is active in social media or one that is watching from the sidelines, advisors and firms are beginning to truly acknowledge the benefits that social media platforms offer. This course provides registered representatives with a few best practices to follow when getting started on LinkedIn. 26 14 - Getting Started with Social Media
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| Social Media: Communications with the Public in an Electronic Environment | Overview | |
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This course discusses the many considerations that representatives and firms face when it comes to the use of social media, including social networking sites, blogs, chat rooms, online forums, static and interactive sites, and the management of third-party content and links. The course offers an overview of FINRA's guidance on the use of social media by registered representatives and other associated persons. More specifically, it highlights FINRA's categories of communication with the public, FINRA rules that apply to electronic communications, as well as considerations for use, supervision, and recordkeeping regarding social media web sites, blogs, chat rooms, and online forums. 42 26 - Categories of Electronic Communications with the Public
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| Suitability: Red Flags for Seniors | Overview | |
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This course is an entry-level course intended for all registered representatives, sales support staff, compliance staff and compliance administrators interested in senior citizen suitability sales practice regulations. This course covers a broad range of issues related to senior investments, including ethics, suitability and products targeted towards seniors. With more and more people nearing retirement age, the issues regarding senior investors are making headlines. Prevention of fraud and questionable business practices are issues that are being addressed by not only FINRA, but also by the states and financial firms as well. Ultimately, the responsibility lies with the registered representative to do what's right for his or her client. This course reminds representatives to always act in the best interests of their clients. 30 15 - Ethics
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| The Role of the FINOP | Advanced | |
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Each FINRA member firm is required to engage the services of a registered financial and operations principal, also known as the "FinOp" or "FINOP." Whether within a clearing firm or introducing broker-dealer, working as a full-time or outsourced provider, the role of the FINOP remains a critical function of the firm. This course is designed to provide an overview of the role and responsibilities of the firm FINOP, highlight various reporting requirements and their mechanisms, and identify more recent regulatory changes that affect the FINOP's role and firm reporting. Please note: This course includes audio on each page. 45 40 |
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| Types of Accounts | Intermediate | |
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In order to effectively and efficiently manage client assets, many advisers recommend that their clients open an account at a custodian - a financial institution usually a broker-dealer or a bank that holds and has legal responsibility for the safekeeping of the customer's securities and/or cash. This custodian will hold client securities and cash facilitate trading and provide tax reporting documentation. The account's type is determined by the client's legal status: whether the client is a real (natural) person or persons, or an entity like a trust or corporation. This course describes the most common account types, as well as the documentary requirements for most accounts. 35 32 - Custodian Information Requirements
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| Understanding Clearing Firms and Risk Management | Intermediate | |
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This course will primarily focus on the vital role that clearing brokers play in the securities markets, the risks associated with that role, and the means for managing those risks. The processes and regulations relating to clearing agencies and the clearing of commodity futures transactions are complex enough to warrant separate treatment, so only limited highlights will be included within in this course. 28 25 - Clearing Firms
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| Understanding Complex Products | Intermediate | |
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This course provides financial advisors and their supervisors with a sound understanding of the essential characteristics of complex products and related sales practices issues. Upon completing this course, advisors will be able to easily identify complex products, describe the suitability requirements that surround them, and implement a reasonable compliance program regarding the sale of complex products. 33 22 - The features, benefits, risks, and considerations pertinent to complex products, and their use in a client's investment portfolio.
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| Understanding the JOBS Act of 2012 | Intermediate | |
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This course provides representatives with an overview of the Jumpstart Our Business Startups Act (JOBS Act), a bipartisan effort signed into law by President Obama on April 5, 2012. The JOBS Act is intended to encourage funding of small businesses, partly by providing relief from certain aspects of securities regulation. Specific areas of the Act discussed include: The increase in the number of shareholders a company may have before the requirement to register its common stock with the SEC is triggered; the new registration exemption for certain types of small public offerings; how the Act may encourage "crowd funding" of new companies; amended disclosure requirements for "emerging growth companies;" allowances for general solicitation and advertising for certain types of private placements; changes to the dollar amount limits for securities offerings exempted under Rule 505 of Regulation D; and changes to the number of permitted shareholders in community banks. 28 20 - The Jumpstart our Business Startups Act (Jobs Act)
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