This course is intended for brokers who are interested in assisting investors in taking advantage of the 1031 Exchange, which provides for the tax deferred exchange of real and personal property. Section 1031 is a part of the IRS Code that permits owners of investment property to defer the capital gains tax on the exchange of property of a like kind. The deferral of capital gains applies to a like-kind exchange of rental real estate but not to like-kind exchanges of stocks, bonds and partnership interests. This course discusses the benefits of exchanging ones property versus selling it, general guidelines surrounding a 1031 exchange and different types of exchanges.
10726
30
20
- 1031 Exchange Definition
- Why Do a 1031 Exchange?
- Benefits of Exchanging vs. Selling
- Different Types of Exchanges
- What is a Boot?
- Mortgage Boot
- Cash Boot
- 45 and 180 Day Deadlines
- What is a Multi-Asset Exchange?
- Qualified Intermediary (QI)
- Reverse Exchange
- Realized Gain and Recognized Gain
401(k)s and Qualified Plans (FE INT)
11543
Advanced
This course is beneficial for individuals whose employers offer retirement plans, including 401(k)s and qualified plans. One of the most important and meaningful benefits an employer can offer is a retirement plan. This is true whether the employer is a large corporation or a small business. Retirement plans allow employers and employees to save money, in tax deferred accounts, delaying income tax payments until funds are withdrawn at some future date. This course discusses types of qualified plans, eligibility requirements and the importance of selecting the most suitable retirement plan.
11543
50
28
- What are 401(k)s and Qualified Plans?
- Overview of Plans
- Types of Qualified Plans
- Why Establish a Qualified Plan?
- Eligibility Requirements for Employers?
- Eligibility Requirements for Employees?
- Vesting Schedules
- Contributions
- Investing Plan Assets
- Distributions
529 Plans and ABLE Programs (FE INT)
11084
Overview
529 savings plans and ABLE programs provide individuals and their families a way to save money on a tax-advantaged basis for qualified expenses. In this course, you'll learn about the characteristics, costs and special care and handling that you must take when recommending these types of plans to your clients.
11084
49
60
- The State Rules, MSRB Regulations, and FINRA Enforcement
- 529 Savings Plans
- 529 Savings Plan Scenario
- ABLE Programs
- ABLE Program Scenario
A Professionals Guide to Ethical Decision Making (FE INT)
10002
Overview
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.
10002
67
40
- Professionalism - Education - Standards of Professional Conduct - Understanding Ethics - Compliance and Professionalism - Making the Case for Good Business Ethics
A Professionals Guide to FINRA Rules on Variable Annuities and Variable Insurance Prospecting (FE INT)
10890
Intermediate
This course is intended for registered representatives, sales personnel, supervisors, or any financial service industry professional interested in learning new advances in prospecting techniques. The objective of this course is to provide representatives with a summary of the current rules on prospecting for these financial services and products. Covered are the most current FINRA rules, communication standards, SEC rules governing variable annuity prospecting, and general compliance standards.
A Registered Representatives Guide to Electronic Communications: Blogs, Bulletin Boards, Chat Rooms, Social Networks and Websites (FE INT)
9895
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 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.
9895
28
20
- An Overview of Electronic Communications - Definitions of Electronic Communications - Electronic Sites - FINRA's Views on Websites
A Representatives Guide to Delivering Great Customer Service (FE INT)
10246
Intermediate
This course is intended for registered representatives and supervisors that primarily work with retail clients. Representatives play a valuable role in customer satisfaction. A customer's positive or negative experience with your firm usually depends on the quality of service on the front line. Firm impressions are long lasting and difficult to change; therefore, it is extremely important that customer service in this area is consistently excellent. In taking this course, representatives will gain an understanding of the skills, attitudes and thinking patterns needed to win customer satisfaction and loyalty.
10246
82
45
- Defining Service - First Impressions - Putting Your Customer First - Effective Communication - Body Language - Building Relationships - Mutual Communication - Appearance and Impressions - General Service Tips for the Telephone - Service/Sales Success Tips for Calls - Phone Etiquette in General - E-Commerce Contacts - Handing Difficult Customer Contacts - The Unhappy Customer - The Power of Positive Language - Customer Service Management - Customer Service Training
A Supervisors Guide to Electronic Communications: Blogs, Bulletin Boards, Chat Rooms, Social Networks and Websites (FE INT)
10221
Overview
This course is intended for supervisors that are responsible for monitoring registered representatives' use of the various types of electronic communications, such as blogs, bulletin boards, chat rooms, social networking sites and websites. This course also reviews the various rules and standards that encompass electronic communications. Additionally, specific issues are covered concerning the different methods/forms of electronic communications. It reviews the various rules and standards that cover electronic communications. Additionally, the course will cover FINRA's rules and views regarding electronic communications in the various forms available today.
10221
30
15
- Introduction to Electronic Communications - Definitions - Supervision of Electronic Sites - FINRA's Views
A Supervisors Role in Deterring the Spreading of False Rumors and Market Manipulation (FE INT)
10885
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.
10885
22
16
- Deterring False Rumors & Market - Manipulation: Background - Secured Finding - Market Manipulation & Short Selling - Spreading of False Rumors - SEC Action Taken & SEC Emergency Order - Rules Regulating the Spread of False Rumors - Steps Required to Ensure Compliance - Supervision of Registered Representatives - Review of policies and other controls
Advanced Anti-Money Laundering Overview (FE INT)
9746
Advanced
This advanced-level firm element course provides a higher level look at AML for all types of financial services representatives and agents, and includes real-world case studies to illustrate the concepts discussed. Topics covered by this course include: Understanding the evolution of AML laws in the US; Real-world examples of red flags; How reporting tools are used by FinCEN and law enforcement; and Examination of case studies, focusing on red flags that were caught or missed, and how the criminals involved were abusing financial services to launder money for illegal endeavors.
9746
35
20
- Review of Money Laundering Basics
- Evolution of the Bank Secrecy Act and Anti-Money Laundering Measures in the US
- AML and CIP Program in the Financial Services Industry
- CDD Rule
- Red Flags
- Case Studies
Advanced Asset Allocation (FE INT)
11098
Advanced
This course is intended for registered representatives and supervisors that maintain a solid understanding of mutual fund basics and/or are involved in managing mutual fund accounts. This course provides participants with an advanced look at the terminology and measures involved with risk/return concepts used in portfolio management. A more thorough understanding of the investor's portfolio can be gained through the application of this course.
11098
40
25
- Overview
- Investor Discussion
- Indifference Curve
- The Origins of Asset Allocation
- Measure of Risk
- Performance Measures
Advanced Look at Collective Funds (FE INT)
12262
Advanced
Collective Investment Funds (CIFs) are tax-exempt pooled investment vehicles maintained by a bank or trust company. The general attributes, regulation and investment risks and rewards of CIFs are discussed in this course. This course will also focus on CIF administrative requirements, internal controls, risks and risk management and the use of third-party vendors.
12262
30
15
- Administrative Requirements Governing CIFs
- Risks
- Risk Management
- Outsourcing: Use of Third-Party Vendor
Advanced Look at Insider Trading (FE INT)
10110
Advanced
This course is intended for registered representatives, investment advisors, institutional representatives, traders, analysts and supervisors who have a well-rounded background in the issuance, distribution and risk-analysis of conventional securities. Those taking this course should already have an intermediate understanding of the securities markets and economic analysis. Insider trading is a term that most financial professionals have heard and usually associate with illegal conduct. In reality, the term actually includes both legal and illegal conduct. The legal version is when corporate insiders, officers, directors and employees buy and sell stock in their own companies. When corporate insiders trade in their own securities they must report their trades to the SEC. Illegal insider trading refers generally to buying or selling a security in breach of a fiduciary duty or other relationship of trust and confidence while in possession of material, nonpublic information about the security. This course covers the definition of insider trading, why insider trading is important, and insider trading rules. Individuals taking this course will also learn how to identify key terms related to insider trading, rules and regulations governing insider trading, and consequences of insider trading.
10110
37
20
- Insider Trading: Three Scenarios - Case Study - Definition of Insider - What is Inside Information? - Trading on Inside Information - Tipping - Public Disclosure - Regulatory Background - SEC Rules and Regulations - Laws Related to Insider Trading - Landmark Cases
Advanced Look at Mutual Funds (FE INT)
10998
Advanced
This course is intended for registered representatives, investment advisors, institutional representatives, traders, analysts and supervisors who have a well-rounded background in the issuance, distribution and risk-analysis of conventional securities. Those taking this course should already have an intermediate understanding of the securities markets. This course will cover the topic of mutual funds, beginning with basic features, characteristics and benefits. The course will wrap-up by discussing tax considerations, breakpoint abuse and asset allocation.
10998
116
61
- What are Mutual Funds?
- Mutual Fund Pricing
- Types of Investment Companies
- Fund Investment Objectives
- Mutual Fund Risks
- Taxation
- Fund Structure
- Fees and Expenses
- Mutual Fund Breakpoints
- Asset Allocation
Advanced Options Strategies (FE INT)
10996
Advanced
Derivative investments, such as swaps, forwards, futures, and options play a varied and unique role in the securities industry within both institutional and retail portfolios. This course is designed to expand upon the student's intermediate understanding of options by exploring different types of options strategies. Options strategies may be employed as a means to protect account holdings as well as the potential to generate a profit. This course focuses on advanced options strategies that may be encountered by the investment professional, as well as the potential risks and rewards involved when investing in this type of derivative.
10996
29
17
- Understanding delta, gamma, theta and vega - The concept of implied volatility - Bullish and bearish strategies and volatility plays, including spreads, writes, straps, strips, straddles, strangles, guts, ladders, butterflies, and condors - Suitability and sales process considerations, including the risks and costs associated with options investing
Advanced Private Placements (FE INT)
10048
Advanced
This course is intended for registered representatives and supervisors working with private placements. The term "private placement" refers to the offer and sale of any security by a brokerage firm not involving a public offering; hence it's a "private offering". Private placement offerings are not the subject of a registration statement filed with the SEC under the Securities Act of 1933. Any registered representative involved in the private placement process, is expected to have a working familiarity with Regulation D. This course will take an advanced look at this type of offering, providing insight as to its genesis and the rules and advantages they offer to investors.
10048
31
25
- Definition of Private Placement
- Qualifications
- Regulation D
- Rules 501-508
- Qualifications for Exemption
- Blue Sky Regulation
Advanced Structured Products (FE INT)
10220
Advanced
This course is designed to educate representatives about the various concepts regarding structured products. The course assumes at least a basic level of understanding of structured products and portfolio management in general. Once a refresher of the basics has been covered, the course describes structured products usage within a portfolio, special risk considerations and how it can be used as an alternative to direct investments in limited partnerships.
10220
27
17
- Types of Structured Products
- Risk Considerations, General
- Risk Considerations, Special Situations
- Regulation of Structured Products, Specific FINRA Rules Cited
- Supervision of Structured Product Sales
- Training of Registered Representatives about Structured Products
Advertising Guidelines for Investment Advisers (FE INT)
13026
Overview
Investment Advisers have a complex web of guidelines and regulations to navigate when it comes to communicating with the public, potential investors and existing clientele. In this course, users will learn of the regulations surrounding advertising while picking up some tips and best practices on how to deal with these types of communication. Additionally, the course will cover advertising-related regulations, federal enforcement actions, and regulatory organization guidelines.
13026
55
60
Alternative Investment Companies (FE INT)
11580
Intermediate
This course takes a closer look at the policies, practices, corporate governance and marketing of alternative mutual and exchange-traded funds
11580
35
20
- Liquidity, leverage, and valuation policies and practices
- Staffing, funding, and empowerment of boards, compliance personnel, and back-offices
- Marketing - Suitability Representations and Recommendations
Alternative Investment Strategies: Currency (FE INT)
12342
Advanced
This course will provide detailed information on the topic of currency, which can be used as an Alternative Investment Strategy. The basic structure of a currency investment will be discussed, as well as its risks and potential benefits. Then, an in-depth look at how a currency investment will react to various market movements and conditions. At the conclusion of this course, you should have a solid understanding of how to effectively use and recommend a currency investment strategy to clients.
12342
46
30
- Currency Derivatives
- Risks
- Benefits
- Currency as a Defensive Position
- How Does a Currency Strategy Perform in Various Market Conditions
Alternative Investment Strategies: Long/Short (FE INT)
12205
Advanced
This course will provide detailed information on using a Long / Short Investment Strategy. The basic structure of a Long / Short strategy will be discussed, as well as its risks and potential benefits. Then, an in-depth look at how a Long / Short strategy will react to various market movements and conditions. At the conclusion of this course, you should have a solid understanding of how to effectively use and recommend a Long / Short Alternative Investment Strategy to clients.
12205
45
30
Alternative Investment Strategies: Market Neutral (FE INT)
12760
Advanced
This course will provide detailed information on using a Market Neutral Alternative Investment Strategy. The basic structure of a Market Neutral strategy will be discussed, as well as its risks and potential benefits. Then, an in-depth look at how a Market Neutral strategy will react to various market movements and conditions. At the conclusion of this course, you should have a solid understanding of how to effectively use and recommend a Market Neutral Alternative Investment Strategy to clients.
12760
37
30
Alternative Investment Strategies: Multi-Alternative (FE INT)
11927
Advanced
This course will provide detailed information on using a Multi-Alternative Investment Strategy. The basic structure of a Multi-Alternative strategy will be discussed, as well as its risks and potential benefits. Then, an in-depth look at how a Multi-Alternative strategy will react to various market movements and conditions. At the conclusion of this course, you should have a solid understanding of how to effectively use and recommend a Multi-Alternative Alternative Investment Strategy to clients.
11927
42
20
Alternative Investments (FE INT)
10560
Intermediate
This course is intended for registered representatives, investment advisers, institutional representatives, traders and supervisors who have a well-rounded background in the issuance, distribution and risk-analysis of conventional securities. Those taking this course should have an intermediate understanding of the securities markets and the wide variety of securities products that are offered for sale to investors. This course will cover the most often utilized alternative investment options, such as Futures, Options, ETFs, Hedged Funds, REITS and Gold.
10560
31
30
- Background of Alternative Investments - Alternative Investment Types - Futures - Options - Exchange-Traded Funds (ETFs) - Hedge Funds - Gold
Alternative Investments: Now Part of Mainstream Investing (FE INT)
10878
Intermediate
This course will provide the student with an overview of correlation, diversification, suitability and a variety of alternative investment products including their requirements, risks and rewards.
10878
35
20
- Introduction
- Non-Correlation of Returns
- Comparison of Trend-following, Systematic Trading and Discretionary Trading Strategies
- Overview of Common Alternative Investments
- Accredited Investors and Minimum Investments
- Alternative Funds as Mainstream Investments
Alternative Mutual Funds - Liquid Alternatives (FE INT)
10937
Overview
This training segment is to ensure registered representatives are knowledgably working with alternative mutual funds and educating suitable clients in the products before making recommendations.
Alternative Mutual Funds and Retail Customer Suitability (FE INT)
10729
Intermediate
This course was developed to address concerns of the Financial Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) regarding the sale and suitability of alternative mutual funds. The alternative funds market has skyrocketed since the economic crisis of 2008. Such explosive numbers in the alternative funds sector have caused the market, retail investors, and media to stand up and take notice; and so have FINRA and the SEC. FINRA and the SEC are the regulating agencies of registered mutual funds.
10729
68
30
- This course addresses the components of: - Alternative funds - Alternative strategies applied to the funds and whether they meet suitability requirements for the retail customer - Disciplinary actions taken by FINRA - SEC illustrate the importance of implementing suitability requirements when recommending alternative funds as part of a portfolio diversification strategy
AML Institutional - Understanding Your Compliance Obligations (FE INT)
9954
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 concludes with a case study involving a US broker-dealer's AML failures relating to institutional customer accounts.
9954
38
30
- AML Background
- US Anti-Money Laundering Laws
- Risk-Based AML Programs
- What is Money Laundering?
- Customer Identity Verification
- CDD Rule
- Documentary and Non-Documentary Verification
- Customer Due Diligence and Risk Assessment
- Detecting and Reporting Red Flags
- Case Study
An Introduction to Collective Funds (FE)
4170
Overview
Collective Investment Funds (CIFs) are tax-exempt, pooled investment vehicles maintained by a bank or trust company. The federal securities laws generally require entities that pool securities to register those pooled vehicles (such as mutual funds) with the SEC. This course provides an introduction to CIFs, the different types, regulations and other basic information about this type of investment.
4170
28
15
- Understand the definition of a CIF
- Discuss the differences between CIFs and mutual funds
- Identify different types of CIFs
- Know how CIFs are regulated
- Understand specialized CIFs
- Discuss the rewards and risks of CIF investing
An Introduction to Non-Traded REITs (FE INT)
10507
Overview
This course is intended for registered representatives that primarily work with clients interested in investing in non-traded REITs. Ideal investors include individuals seeking to add income and/or reduce portfolio volatility as part of a broader financial plan. This course will explore REITs as an asset class and will look specifically at non-traded or non-listed REITs, a subset of the REIT market. The course will explore the benefits and risks of investing in the non-traded REIT market and the type of investors who can benefit from these investment products.
10507
32
25
- What is a REIT? - Types of REITs - Benefits of REITs and Non-Traded REITs - Description of Non-Traded REITs - What makes a good non-traded REIT? - Differences from Limited Partnerships - Who should invest in non-traded REITs? - Risks of Non-Traded REITs - 1031 Tenants in Common and 721 Exchanges
An Overview of FINRA Advertising Rules (FE INT)
12791
Overview
This course will focus on FINRA rules and regulations related to broker-dealer advertisements. It is designed to provide an overview of general terms, content standards, disclosure requirements, supervision, recordkeeping, and requirements to file certain advertisements directly with FINRA. In addition, SEC rules related to Investment Company, and Investment Adviser advertisements, as well as municipal security advertisements (covered under MSRB rules) will be briefly discussed.
This course would be suitable for anyone working in a marketing function, individuals responsible for the internal review and approval of advertisements, compliance staff, and any other individuals seeking a general understanding of advertising regulation. However, it is important that individuals who are directly responsible for the review, approval or filing of firm communications receive additional training. They should also be properly registered with FINRA and/or the MSRB. One form of training is available at FINRA's annual Advertising Regulation Conference (recordings of which are available through FINRA), as well as the FINRA Advertising Boot Camp which is conducted for individuals who are new to advertisement supervision.
12791
45
30
An Overview of Fixed Income Securities (FE INT)
11015
Overview
This course is designed to provide representatives with a general understanding of fixed income securities - what they are, how they can be employed in an investor's portfolio, and the risks and rewards involved in investing in fixed income securities.
11015
39
22
- Types of fixed income securities, including Treasury bonds, agency securities, municipal securities, mortgage-backed securities, collateralized mortgage obligations, and preferred stock - The role of intermediaries in the fixed income market - How fixed income securities are bought and sold - What types of investors may purchase fixed income securities - US and global bond markets - Suitability and sales process considerations
NEW! - Annual AML Update: COVID-19 Risks, Legislative Updates, and Enforcement Actions (FE INT)
15475
Overview
A course covering 2020 AML updates and enforcement actions would not be complete without understanding the impact of the COVID-19 pandemic on the flow of illicit funds and the new ways that criminals found to exploit the confusion and systemic vulnerabilities exposed by the pandemic as both government and private entities pivoted business models over the course of just a few months. This course weaves together COVID-19 related money laundering examples, with enforcement actions, AML trends, and U.S. Legislation directed at improving AML efforts.
15475
40
30
Annual AML Update: Review of Regulatory Guidance and Enforcement (FE INT)
12604
Overview
This course will review Anti-Money Laundering developments from 2019 including regulatory guidance from the securities and banking industries, FATF cryptocurrency guidance, enforcement actions, a new FINCEN department and several case studies including the Danske Bank AML case and the US' Mueller report. By the end of the course, students will have a better understanding of the front-end of the regulatory environment and how money laundering is detected and prosecuted in modern cases.
This course uses facts from actual cases to enable the student to identify regulatory requirements, understand compliance obligations, and recognize the possible consequences of failure to comply with regulatory and firm requirements.
10068
31
20
- Outside business activities
- private securities transactions
- U-4 disclosures; responding to compliance requests
- customer information
- customer complaints and settlements
- use of captured email addresses
- handling of customer funds
- trade authorization
- conflicts of interest
- due diligence
- recordkeeping best practices.
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.
10083
29
10
- The reminders related to 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;
- avoiding insider trading;
- information barriers; and
- maintaining ethical behavior
Annuities: Owner Driven and Annuitant Driven Contracts (FE INT)
11417
Intermediate
This course is intended for registered representatives and supervisors who are involved with the sale of annuity products, the servicing of these products, or providing recommendations/guidance to clients that purchase annuities. All deferred annuities come in two contract forms: namely as Owner-Driven (OD) and Annuitant-Driven (AD). By "driven" we are referring to certain actions that occur upon death that are beyond the control of named parties to the contract unless proper structuring is done regarding who owns who is an annuitant and who is a beneficiary to the contract. This course discusses time horizons, advantages of annuities, deferring taxes and annuity contract structuring.
11417
35
26
- What are Annuities?
- Time Horizon / Annuity Advantages
- Deferring Taxes
- Annuity Contract Structuring
- The Enhanced Death Benefit
- Implications
- The Importance of Proper Annuity Contract Structure
- Typical Family Structure - Problems
- Taking Corrective Action
- Preferred Family Structure
Annuity Basics (FE INT)
11204
Overview
This course is intended for registered representatives and supervisors involved in the sale of annuity products, the servicing of these products or providing recommendations/ guidance to clients that purchase annuities. Annuities play an important role in retirement planning, enabling investors to save money and taxes, while eliminating the fear that they will outlive their savings. There are many kinds of annuities - some tailored for income some for future growth and some as savings vehicles dependent on the exact income and investment needs of an investor. This course will provide representatives with a basic understanding of the various types of annuities available to investors today and how they work.
11204
27
16
- What is an Annuity?
- Annuity Background
- Tax-Deferred Annuity
- Three Types of Tax-Deferred Annuity Products
- Fixed Annuity & Equity-Indexed annuity
- Variable Annuity
- Is There Risk Associated with Annuities?
Anti-Fraud Programs and Controls (FE INT)
10894
Advanced
This course is intended for retail representatives, institutional representatives, investment advisers, supervisors or any financial service industry professional interested in learning about anti-fraud programs and controls and what they need to do to ensure that they, and their clients, are not a victim of this crime. Preventing fraud has always been a concern for organizations; in the new regulatory world it has become a matter of law. While the cost of fraud and penalties for non-compliance are in themselves important considerations, today's zero-tolerance environment means that fraudulent financial reporting or misappropriation of assets can have serious ramifications for an organization, and in some circumstances, even spell the demise of an organization.
10894
57
40
- Political and Legislative Context - What Is Fraud? - Anti-Fraud Prevention and Timely Detection - Internal Controls - One Size Does Not Fit All - Appropriate Treatment
Anti-Fraud Programs and Controls for the Investment Advisor (FE INT)
10158
Advanced
Preventing fraud has always been a concern for organizations; in the new regulatory world it has become a matter of law. While the cost of fraud and penalties for non-compliance are in themselves important considerations, today's zero-tolerance environment means that fraudulent financial reporting or misappropriation of assets can have serious ramifications for an organization, and in some circumstances, even spell the demise of an organization. This course will provide an overview of potential fraud situations and measures that can be taken to avoid fraud and protect customers.
10158
47
20
- Political and Legislative Context - What is Fraud? - Anti-Fraud Prevention and Timely Detection - Internal Controls - One Size Does Not Fit All
Anti-Money Laundering and Red Flags for Institutional Clients (FE INT)
9771
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.
9771
26
20
- History of Anti-Money Laundering Regulations
- Historical Federal Legislation
- USA Patriot Act & New Red Flag Requirements
- What is Money Laundering?
- What is at Stake?
- CDD Rule
- Using the Office of Foreign Assets Control
- Responsibilities with Institutional Clients
Anti-Money Laundering and Red Flags for Institutional Clients - Vol. 2 (FE INT)
9906
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.
9906
53
55
- What is Money Laundering?
- U.S. Anti-Money Laundering Efforts: Laws, Agencies, FINRA requirements
- Customer Identity Verification: Documentary and Non-Documentary
- Customer Due Diligence and Risk Assessment
- CDD Rule
- Detecting and Reporting Red Flags: Behavioral and Transactional Red Flags
- Investigating and Reporting Suspicious Activities
- Case Study
Anti-Money Laundering and the Red Flag Rule (FE INT)
10684
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.
10684
41
20
Anti-Money Laundering Compliance Obligations for Retail Representatives (FE INT)
9950
Intermediate
This course is intended for retail representatives and provides an overview of broker-dealer AML program requirements, "red flags" and suspicious activities, as well as a registered representative's role in detecting, preventing and reporting suspicious activity.
9950
38
20
- Definition and criminalization of money laundering
- Developing and testing an anti-money laundering program
- Customer identification procedures
- CDD Rule
- Detecting and reporting suspicious activity
- Criminal sanctions
Anti-Money Laundering Considerations for Banks (FE INT)
10943
Intermediate
This course is designed for tellers, operational staff, compliance, and any employee working directly or indirectly with the banking industry. This course will provide basic background information on U.S. money-laundering laws and international anti-money laundering efforts. It also discusses actions bankers can take to better identify and manage risks associated with money laundering and terrorist financing. It is intended to provide a high-level discussion of concepts and issues.
10943
45
30
- Overview of Money Laundering
- The Bank Secrecy Act
- What Bankers Can Do to Help
- Monitoring Programs
- CDD Rule
- Types of Banking
- High-Risk Customers
- Money Laundering Red Flags
- Terrorist Financing Red Flags
- Reports and Records
Anti-Money Laundering Detection and Prevention for Agents (FE INT)
10692
Overview
This course provides an overview of AML concepts, tailored for producers. The focus is on the need for front-line brokers and agents to have an understanding of how money laundering works, and the risks and red flags they should be aware of in their role as producers.
10692
71
32
- The stages of the money laundering process
- Money laundering and terrorist financing
- Agents' and broker's responsibilities
- Identifying red flags
- Customer identity verification requirements
- CDD Rule
- Foreign clients and overseas markets
- FinCEN, OFAC and FATF
- Case studies relating to a producer's role in detecting and preventing money laundering in daily operations
Anti-Money Laundering for Agents (FE INT)
11212
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 objective of this course is to introduce agents to the federal laws and regulations that apply to money laundering, record keeping, and reporting. The course discusses some red flags that may indicate potential money laundering activities, as well as the penalties that can be imposed for violating federal money laundering laws.
11212
41
26
- Overview of Money Laundering
- Awareness of AML Regulations
- Definition of Money Laundering
- How Money Laundering is Done
- Overview of Federal Efforts
- Federal Anti-Money Laundering Legislation
- Enhanced Customer Identification
- CDD Rule
- Additional Reporting Requirements
- Money Laundering Suspicious Activities
- Overview of Penalties
Anti-Money Laundering for Agents and Representatives: Overview, Detection and Prevention (FE INT)
9881
Overview
This course is intended for producing agents and registered representatives, and is also suited for investment advisors, supervisors, or any financial service industry professional needing a basic understanding of industry rules regarding anti-money laundering, and how firms detect and prevent possible money laundering.
9881
40
30
- Overview of Money Laundering
- The stages of the money laundering process
- Overview of Federal AML measures (BSA, USA PATRIOT Act)
- FinCEN, OFAC and FATF
- Agents' and brokers' responsibilities
- Customer identity verification requirements
- CDD Rule
- Recognizing Money Laundering Red Flags
- Overview of Recent Penalties for AML Violations
- Case studies relating to a producer's role in detecting and preventing money laundering in daily operations
Anti-Money Laundering for Bank-Affiliated Broker-Dealer Representatives (FE INT)
10159
Overview
This course is designed for registered representatives of broker-dealers affiliated with banks, credit unions, or similar financial institutions. 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.
10159
36
35
- Money laundering overview
- AML efforts
- Role of banks and other financial institutions in AML efforts
- CIP programs
- Customer due diligence and risk assessment measures
- CDD Rule
- Money laundering red flags
- Reporting suspicious activities
- Willful blindness
Anti-Money Laundering for Broker-Dealers (FE INT)
9892
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. The objective of this course is to introduce broker-dealer employees to the federal laws and regulations that apply to money laundering, record keeping, and reporting. The course discusses some "red flags" that may indicate potential money laundering activities, as well as the penalties that can be imposed for violating federal money laundering laws.
9892
43
30
- Overview of Money Laundering
- Awareness of AML Regulations
- Definition of Money Laundering
- How Money Laundering is Done
- Overview of Federal Efforts
- Federal Anti-Money Laundering Legislation
- Enhanced Customer Identification
- CDD Rule
- Additional Reporting Requirements
- Money Laundering Suspicious Activities
- Overview of Penalties
Anti-Money Laundering for Broker-Dealers - Vol. 2 (FE INT)
9877
Intermediate
This course is designed for registered representatives of FINRA member broker-dealers. The course begins with actual cases involving FINRA member firms that took place in 2015 and then moves into a review of basic anti-money laundering concepts. The course then shifts to the representative's role in preventing, detecting and reporting suspicious activities that may point to illegal money laundering, providing examples from actual cases of what happens when a firm fails to carry out its AML obligations.
9877
38
45
- Real world AML cases from 2015
- Money laundering overview
- CIP programs
- CDD Rule
- Customer due diligence and case study example of due diligence failure
- Money laundering red flags and case study example of failure to detect, investigate and report suspicious activities
Anti-Money Laundering for Financial Services Professionals (FE INT)
9897
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.
9897
69
35
- What is Money Laundering?
- The Scope of the Problem
- The Process of Money Laundering
- Money-Laundering Techniques
- Impact
- Documentary/Non-Documentary
- Potential Indicators of Suspicious Activity
- Filing Requirements
- Know Your Customer
- CDD Rule
- Criminal and Civil Penalties
- CEO and CFO Responsibilities under SOX
Anti-Money Laundering for Home Office Personnel (FE INT)
10693
Overview
This course is intended for home office personnel, retail representatives, investment advisors, supervisors, or any financial service industry professional interested in learning about industry rules regarding anti-money laundering rules and regulations. The objective of this course is to introduce home office employees to the federal laws and regulations that apply to money laundering, record keeping, and reporting.
10693
37
30
- Overview of Money Laundering
- Awareness of AML Regulations
- Definition of Money Laundering
- How Money Laundering is Done
- Overview of Federal Efforts
- Federal Anti-Money Laundering Legislation
- Enhanced Customer Identification
- CDD Rule
- Additional Reporting Requirements
- Money Laundering Suspicious Activities
- Overview of Penalties
Anti-Money Laundering for Home Office Personnel - Vol. 2 (FE INT)
10292
Overview
This course is intended for home office personnel, retail representatives, investment advisors, supervisors or any financial service industry professional interested in learning more about the industry rules and regulations regarding anti-money laundering. The objective of this course is to introduce home office employees to the federal laws and regulations that apply to money laundering, record keeping and reporting.
10292
22
35
- Overview of Money Laundering
- Awareness of AML Regulations
- Definition of Money Laundering
- How Money Laundering is Done
- Overview of Federal Efforts
- Federal Anti-Money Laundering Legislation
- Enhanced Customer Identification
- CDD Rule
- Additional Reporting Requirements
- Money Laundering Suspicious Activities
- Overview of Penalties
Anti-Money Laundering for Investment Advisers (INT)
9834
Intermediate
This course covers proposed anti-money laundering rules for registered investment advisers. Included are highlights of the major features of the proposed rule and the implications the rule will have for investment advisers.
9834
34
20
Anti-Money Laundering for Municipal Securities Representatives (FE INT)
11027
Overview
This course is intended for registered securities representatives and supervisors interested in learning how industry rules regarding anti-money laundering regulations. Every municipal securities dealer must establish and implement an anti-money laundering compliance program designed to achieve and monitor ongoing compliance with the requirements of the Bank Secrecy Act, 31 U.S.C. 5311, et seq. (BSA).
11027
41
27
- Overview of Money Laundering
- Awareness of AML Regulations
- Definition of Money Laundering
- How Money Laundering is Done
- Overview of Federal Efforts
- Impact on Your Broker Dealers and Clients
- Enhanced Customer Identification
- CDD Rule
- Additional Reporting Requirements
- Money Laundering Suspicious Activities
- Overview of Penalties
Anti-Money Laundering for Retail Representatives (FE INT)
9828
Overview
The objective of this course is to make you aware of the anti-money laundering rules and regulations so that you are able recognize those warning signs and take the correct steps for addressing the questionable issues. After completing this course, you will be able to identify the stages of the money laundering process, understand the development of AML regulations in the U.S., describe Customer Identification Program requirements, and recognize suspicious activities and red flags that could indicate money laundering activity.
9828
39
20
- Money Laundering Processes
- AML Regulations
- Customer Identification Programs
- CDD Rule
- Enhanced Due Diligence
- Activity Monitoring and Red Flags
- Suspicious Activity Reporting
- Consequences of AML Violations
Anti-Money Laundering for Supervisors (FE INT)
10694
Intermediate
An overview of money laundering, firms' obligations in creating an AML program, red flags of suspicious activity, and the supervisor's role in detecting, preventing and reporting suspicious activity. Real-word examples of AML compliance failures will be presented.
10694
48
30
- Review of money laundering basics and AML laws in the US
- Adopting an anti-money laundering program
- Customer identification procedures
- CDD Rule
- Red flags of suspicious activity
- After the Red flag - Monitoring, Investigating and Reporting Suspicious Activities
- Case Study - repeated failures of an AML compliance program
Anti-Money Laundering for Wholesalers: Your Role in Detecting and Deterring Money Laundering Activity (FE INT)
9902
Overview
This course provides an overview of AML concepts tailored for wholesalers. The focus of this course is on the need for wholesalers to have a better understanding of what money laundering is, how it works and the risks, red flags and reporting requirements they should be aware of in their role as a producer.
9902
33
13
- Definition and examples of money laundering
- International scope and response
- FATF
- US laws, regulations, and agencies
- FinCEN, OFAC and BSA
- Customer identity verification requirements
- CDD Rule
- Identifying red flags
- Wholesalers' responsibilities
Anti-Money Laundering Regulations and Ramifications (FE INT)
10687
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.
10687
39
30
- Overview of Money Laundering
- How Money Laundering is Done
- What is Terrorist Financing?
- Curbing Money Laundering
- Federal Legislation
- USA PATRIOT Act
- Impact on Your Company and Clients
- Enhanced Customer Identification
- CDD Rule
- Office of Foreign Asset Control
- Suspicious Activity Indicators to Consider
- Criminal & Civil Sanctions
Anti-Money Laundering Regulations and Red Flag Requirements for U.S. Investment Advisers (FE INT)
10773
Overview
Anti-money laundering (AML) is a phrase used to describe the body of regulations that financial institutions must adhere to in order to detect and report money laundering activities. Although many AML regulations do not directly apply to investment advisers who are not also registered as a covered financial institution (broker-dealer, bank, credit union, etc.), many IARs find themselves at the front lines of AML responsibilities because of the relationships they have with their custodians; who are often required to comply with the entire body of AML regulations. This course will cover AML regulations and Red Flags that Investment Advisers should be aware of within their practice. You may not realize it, but you, as an investment adviser, are your custodian's eyes and ears on the ground in combating the nearly 1.5 trillion dollars that is estimated to be laundered annually.
10773
38
30
- Overview of Money Laundering
- Federal Legislation
- USA Patriot Act
- Red Flag Requirements
- What is Money Laundering?
- What's at Stake?
- Know Your Customer Guidelines
- CDD Rule
- New Account Requirements
- Using the Office of Foreign Assets Control
- Suspicious Behavior Checklist
- Currency Transaction Reports
- Suspicious Activity Reports (SARs)
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.
9692
32
20
- AML organizations
- Recommendations and regulations for UBOs
- FinCEN Final Rule 2016
- Covered Financial Institutions
- Ownership and Control
- Customer Due Diligence
- Risk-Based Requirements
- Complex structures
- Offshore challenges
This course covers the topic of Anti-Money Laundering as it applies to the various regulations implemented to prevent, detect and punish the act. Regulations covered are the Bank Secrecy Act, USA PATRIOT Act, and FINRA Rule 3310.
11260
23
25
Anti-Money Laundering: Customer Identification Programs and Red Flags (FE INT)
10688
Intermediate
This course covers requirements for a firm's Customer Identification Program, with emphasis on real-world context for application of a CIP. The course also discusses red flags that every representative should be aware of in their day-to-day dealings with customers and prospective customers, and with accounts. The course concludes with case studies to illustrate the concepts covered in the text.
10688
35
20
- Money laundering overview
- BSA and AML programs
- Overview of CIP programs and their required elements
- CDD Rule
- Red flags of possible money laundering
- Case studies
Anti-Money Laundering: Customer Identification Programs, Red Flags, Everyday Scenarios and Enforcement Cases (FE INT)
9842
Intermediate
This course provides a brief review of the basics of illegal money laundering and the legislative measures adopted to combat money laundering in the US. The course covers requirements for a firm's AML and CIP programs with emphasis on real-world context. The course also discusses red flags that every representative should be aware of in their day-to-day dealings with customers and prospective customers, and with accounts. The course concludes with examples of enforcement cases that reinforce the concepts covered in the text.
9842
43
30
- Money laundering overview
- Overview of BSA and AML programs
- Overview of CIP programs
- CDD Rule
- Red flags of possible money laundering
- Enforcement cases
Anti-Money Laundering: Review, Everyday Scenarios, and Enforcement Cases (FE INT)
9873
Intermediate
This course provides a brief refresher overview of AML programs before focusing on examples of real-world scenarios representatives may encounter in their interactions with customers and prospective customers. The course continues its emphasis on real life application by presenting summaries of actual recent enforcement cases.
9873
32
20
- Money laundering overview
- Overview of AML and CIP programs
- Overview of CIP programs and their required elements
- CDD Rule
- Red flags of possible money laundering
- Enforcement case studies
This course provides a brief refresher overview of AML programs before focusing on examples of real-world scenarios representatives may encounter in their interactions with customers and prospective customers. The course continues its emphasis on real life application by presenting summaries of actual recent enforcement cases.
9918
33
30
- Money laundering overview
- Overview of AML and CIP programs
- Overview of CIP programs and their required elements
- CDD Rule
- Red flags of possible money laundering
- Enforcement case studies
This course is intended to familiarize representatives with the process of money laundering and the laws that make it a crime. At the end of this course, you will have a better understanding of Customer Identification Programs, FINRA Rule 3310, OFAC Sanctions Programs, Foreign Shell Banks, Due-Diligence Programs and much more.
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.
10279
43
30
Asset Allocation (FE INT)
11154
Advanced
This course is intended for registered representatives and supervisors that maintain a solid understanding of mutual fund basics and/or are involved in managing mutual fund accounts. This course discusses different asset types, risk levels and how to determine the return on each asset. The course also touches on important factors to consider in an investment strategy, as well as practical examples of client portfolios, based on risk profiles, risk tolerance, financial goals, and horizons.
11154
55
35
- Purpose of Asset Allocation
- The Risk-Return Tradeoff
- Factors to Consider When Reviewing a Portfolio
- Types of Risk
- Theories
- Methods and Models
- Types of Risk and Investors
- Factors to Consider in an Investment Strategy
- Client Portfolios: Practical Examples
- Putting the Strategy into Practice
Auction Rate Securities (FE)
1591
Intermediate
This course is intended for representatives, investment advisers, institutional representatives, traders and supervisors who have a well-rounded background in the issuance, distribution, and risk-analysis of conventional securities. Those taking this course should have an intermediate understanding of the securities markets and the wide variety of securities products being offered to investors.
This course provides a detailed review of the first auction rate security for the tax-exempt market, which was introduced by Goldman Sachs in 1988. More specifically, the course provides background on auction rate securities, defines the various types of ARS orders, and uncovers the 2008 auction failures.
1591
29
20
- Background and Definition - Types of ARS Orders - The SEC Cease-and-Desist Order of 2006 - Auction Failures - Centralized Access to Municipal Auction Rate Security Information - Apparent Benefits of Auction Rate Securities
Back Office Functions and Operations (FE INT)
10882
Overview
Many individuals within organizations contribute to, or perform functions that fall within the wide scope of back office operations. Back office operations professionals in a FINRA registered broker-dealer play an integral role in today's heavily regulated financial services marketplace. Back-office teams support client on boarding, account opening, receipt and delivery of securities, movements and transfers of funds, and all subsequent processing after the transaction is executed. This course will focus on back office processes and the qualifications of those charged with such functions.
10882
29
20
- Back Office Operations
- Brokerage Office Procedures
Bank Secrecy Act (FE INT)
11125
Intermediate
This course is intended for registered representatives, supervisors, compliance staff, senior management and firm principals that are interested in, or affected by, the rules imposed by the Bank Secrecy Act. This course provides a detailed review of the Bank Secrecy Act. It outlines the history of the Act and its purpose. It also describes the requirements from financial institutions and other businesses to maintain appropriate records and file reports. Common BSA violations are also discussed to help you to guard against them.
11125
55
38
- Bank Secrecy Act (Currency and Foreign Transactions Reporting Act)
- Money Laundering
- OCC Initiatives
- Non-Compliance Penalties
- Internal BSA Compliance Programs
- Independent Testing of Compliance
- BSA Reporting and Recordkeeping Requirements
- Suspicious Conduct and Actions
- Activity Inconsistent with the Customer's Business
- Avoiding Reporting or Recordkeeping Requirement
- Insider Complicity
Basics of 403(b) Plans (FE INT)
12757
Overview
This course is intended for registered representatives and supervisors that work in the business of retirement planning. This course covers the 403(b) tax-deferred annuity tax advantages, eligible employers, alternative methods of calculating maximum contributions, and investments and special rules.
12757
27
20
- 403(b) defined
- Title 1 Plans
- Non-Title 1 Plans
- Excess Deferrals
- Catch-up Contributions
- Distribution Options and Tax Implications
- Conditions for Implementing RMDs
Basics of Bond Investing (FE INT)
12540
Overview
This course is intended for registered representatives, supervisors and other financial service professional interested in learning more about the bond markets in general. Individuals taking this course should already have a basic understanding of how bonds are issued, purchased and sold. One of the most common debt instruments used to raise or borrow capital is bonds. This course provides an introduction to corporate bonds, how they are priced, how they are traded and how they can be used to finance specific needs. One of the most common debt instruments used to raise or borrow capital is bonds. This course provides an introduction to corporate bonds, touching on topics from how they are priced, how they are traded, and how they can be used to finance specific needs.
12540
27
15
- Bonds as IOUs
- Making Money off of Bonds
- The Bond Rating System
- Yield to Maturity
- Government Bonds
- Municipal Bonds
- Corporate Bonds
- Zero-Coupon Bonds
Basics of Investing (FE INT)
11343
Overview
This course is intended for registered representatives and their supervisors that primarily work with retail clients. In this course, representatives will learn about the concept of investing. An introduction to the concepts of compounding, portfolio diversification and the various types of investments available will all be reviewed.
11343
37
20
- Importance of Planning Ahead
- Compound Interest
- Bonds - Stocks
- Mutual Funds
- Types of Portfolios and Diversification
Basics of Stock Investing (FE INT)
12160
Overview
This course is intended for registered representatives and their supervisors that primarily work with retail clients. This course covers the different types of stocks available and how they are traded. Additionally, the course discusses bull and bear markets and the impact they have on stock investing.
12160
32
15
- Stock Ownership and Risk
- Debt vs. Equity
- Common Stock
- Preferred Stock
- Stock Basics
- Stock Trades
- Types of Stock Exchanges
- Causes for Stock Price Changes
- Bulls vs. Bears
Best Execution and Debt Mark Ups (FE INT)
10409
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.
10409
52
45
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
Blue Sky Laws (FE INT)
11932
Overview
This course is intended for producers, supervisors, sales associates, compliance administrators, new account managers and any financial service professional that needs to abide by the various state compliance requirements. This course will provide an overview of the provisions and scope of the Blue Sky Laws, which state legislatures use to regulate security businesses operating within their states.
11932
34
20
- Supervision of Blue Sky Laws
- Actions Against Firms and Agents
- Penalties: Civil and Criminal
- State Registration Exemptions
- Reg D Offerings
- Prohibited Practices
Books and Records for Operations Professionals (FE INT)
10863
Overview
FINRA, in conjunction with the SEC, has published guidance for books and records retention. This guidance is applicable to broker-dealers per Securities & Exchange Act (SEA) Rule 17a-4 and establishes standards for which records to keep, which formats are acceptable, and how long records should be kept. The SEC requires that broker-dealers create and maintain certain records so that, among other things, the SEC, self-regulatory organizations, and state securities regulators may conduct effective examinations of broker-dealers.
10863
54
60
- Definitions
- Examples of books and records to be retained
- General Requirements
- Books & Records Checklist
- Frequently Asked Questions (FAQ)
- Case studies
Books and Records: Representative Responsibilities (FE INT)
10406
Overview
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.
10406
37
23
- SEC Record Retention Rules
- SEC Rule 17a-3
- SEC 17a-4
- Rule 4510
- Client Privacy
- FINRA Audit Requirements
- Order Tickets
- Record Retention and Privacy
Brokered CDs (FE INT)
11019
Intermediate
If an investor's primary goals include principal preservation and income, Certificates of Deposit (CDs) can serve as a sound portfolio foundation. They offer reliable income and, when issued by a bank or an insured credit union, a federally insured return of capital. This course provides an overview of investing in brokered certificates of deposit, including the associated risks, benefits and investing guidelines.
11019
31
15
- Introduction to Brokered CDs
- Types of Brokered CDs
- Purchasing Brokered CDs
- Holding Brokered CDs
- Selling Brokered CDs in the Secondary Market
Business Continuity Planning (FE INT)
10528
Intermediate
This course is intended for retail representatives, institutional representatives, investment advisers, supervisors, or any financial service professional interested in learning more about business continuity planning. The course provides participants with an introduction to the five main phases involved in developing a BCP manual, as well as important factors to consider when investing time and resources into BCP preparations. Business continuity or business resumption planning is necessary to prepare an organization to recover after some interruption of its business operations. This is especially true in the financial services industry, where companies cannot afford to lose working days that would equal millions of dollars in lost trades and investments.
10528
29
19
Business Continuity Planning - Vol. 2 (FE INT)
10839
Overview
In today's business environment it is more important than ever for any business to implement a plan that ensures their business can continue to deliver products and services to clients or customers after a catastrophic event. This course will focus on the importance of a Business Continuity Plan, how businesses can best prepare for events , recovery strategies, and how it relates to financial professionals.
10839
25
30
Business Development Companies (FE INT)
11323
Intermediate
This course covers the history of business development company regulation, including specific statutes and rules. Also covered are the specific investment guidelines that business development companies must follow. Also covered in the course are two case studies regarding business Development companies. The course assumes that the reader has at least a basic understanding of investments, finance and regulatory concepts.
11323
28
15
- Business Development Company regulation
- Business development company registration
- Permissible investments by business development companies
- Two case studies
- Suitability considerations
Business Gifts: A Wholesalers Responsibilities (FE INT)
10054
Intermediate
This course provides an overview of FINRA's rules for giving gifts in a business setting, tailored for wholesalers. It focuses on the necessity for wholesalers to be familiar with and to follow the rules and policies of their particular firm in addition to FINRA Rule 3220.
10054
27
12
Buy-Sell Agreements and Business Valuation (FE INT)
11199
Overview
A buy-sell agreement is a legal contract that details the terms and conditions of the transfer of ownership of a company in the event of the death, incapacity, or other departure of a current owner. Because they address the critical issue of company ownership, buy-sell agreements can be quite complex, addressing each party's responsibilities, rights, financial obligations and tax consequences, they are typically prepared with the assistance of qualified attorneys and CPAs. The goal of a buy-sell agreement is to be prepared in advance to handle such transitions in a predetermined way and avoid costly and time-consuming battles over a business's future; a poorly drafted buy-sell arrangement or one that is underfunded can work counter to this objective, so it is best to invest the time and expense up front to develop a well thought-out contract.
11199
35
30
- What is a buy/sell agreement?
- Why would a business owner want a buy/sell agreement?
- Types of buy-sell agreements
- Funding the buy-sell agreement
- Business valuation
- Drafting a buy-sell agreement to establish taxable value
California Consumer Privacy Act (CCPA) (FE INT)
12347
Overview
This course is designed to provide a high-level understanding of the California Consumer Privacy Act (CCPA) of 2018 and its implications for impacted consumers and businesses. By the end of this course, you should have a broad understanding of the key elements of the law, the new consumer rights it grants, the requirements for businesses, and the potential enforcement and civil liabilities businesses face for non-compliance.
12347
43
30
Canada's Anti-Money Laundering and Anti-Terrorism Financing Regime Updates and Case Studies (FE INT)
10759
Overview
Recognizing Money Laundering and Terrorism Financing red flags in your business is crucial to maintaining the integrity of financial services providers, Canadian trade partners, and the tax base we use to benefit society. The role of financial services providers in the anti-terrorist and money laundering regime is to make it harder for bad actors to integrate ill-gotten funds into legitimate financial systems and to provide data and red flag reporting to FINTRAC. In this course, we'll focus on the 2018 updates to the Canadian Money Laundering and Terrorist Financing Regime, trade based money laundering, service based money laundering, and beneficial ownership with real life case studies to help you connect the dots between seemingly "dark" money and the accounts and activity that may come across your desk.
This course is intended for registered representatives, supervisors, compliance staff, senior management and firm principals. Cash alternatives, sometimes called cash equivalents, are vehicles that are considered safe and are highly liquid (i.e. investors can convert them to cash quickly if needed). Thus, cash alternatives are often used to fund a cash reserve. FINRA has warned that not all "cash equivalent" investments are risk-free and that in the current market, investors may be drawn to higher-yielding securities without realizing the potential dangers. This course will define the term "cash equivalent" and look at the potential risks associated with the various investment options in this investment category.
1980
45
24
- FINRA Regulatory Notice 08-82 - Types of Cash Alternatives - Opportunity Risks and Costs - Tax Considerations - Auction Rate Securities - Cash Holdings as Part of Investment Portfolio - Communications with the Public - Due Diligence/Reasonable-Basis Suitability - Customer-Specific Suitability
Changes to FINRA Supervision Rules (FE INT)
10561
Overview
This course provides information for registered principals and registered representatives regarding four new FINRA rules related to supervision and supervisory procedures.
10561
38
40
- FINRA Rule 3110 (Supervision)
- FINRA Rule 3120 (Supervisory Control System)
- FINRA Rule 3150 (Holding of Customer Mail)
- FINRA Rule 3170 (Tape Recording of Registered Representatives by Certain Firms)
Changes to FINRAs Public Communication Rules for Registered Representatives (FE INT)
10142
Overview
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.
10142
29
16
- The restructuring of the communication categories
- Changes to the pre-use approval and filing requirements
- Changes to the content standards
- Changes to the definition of correspondence
- Applying the recordkeeping rules
Changes to FINRAs Public Communication Rules for Supervisors (FE INT)
11331
Overview
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 supervisors with a better understanding of the recently-approved changes to the rules relating to public communications by a firm's associated persons.
11331
31
20
- The restructuring of the communication categories
- Changes to the pre-use approval and filing requirements
- Changes to the definition of correspondence
- Changes to the content standards
- Applying the record-keeper rules
Class B Mutual Fund Shares (FE)
70
Intermediate
This course is intended for retail representatives, institutional representatives, investment advisors, supervisors or any financial service industry professional interested in learning about mutual fund investing, available share classes, and potential fees and expenses. The course also explains how an investor's profile needs to be analyzed and goes into detail about investor breakpoints and suitability obligations.
0070
25
15
- Multiple Share Classes - 12b-1 Fees - Share Class Definitions - Breakpoints - Rights of Accumulation - Letters of Intent - Mutual Fund Holdings - Suitability - Share Distinction
Client Suitability (FE INT)
10092
Overview
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.
10092
26
20
- Current Income and Preservation of Capital - Current Income and Growth of Capital - Financial Status of Client - Risk Tolerance of Client - Risk Characteristics
Client Suitability for the Investment Advisor (FE INT)
10691
Overview
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.
10691
28
20
- Objectives - Current Income - Growth of Investment Capital - Income & Expenses - Net Worth - Insurance Needs - Tax Status - Risk
Closed-End Funds (FE INT)
12206
Intermediate
This course provides an overview of how closed-end funds are structured, launched, discounted, traded, managed and leveraged, including descriptions of the range of available strategies and objectives, distribution plans, applicable fees and investment benefits and risks.
12206
30
15
- What is a closed-end fund?
- How are closed-end funds different from open-end funds?
- What are the types of closed-end funds?
- How are closed-end funds structured and managed?
- Do closed-end funds use leverage?
- How is a closed-end fund launched and traded?
- How do closed-end funds handle distributions and capital gains?
- What are the benefits and risks of investing in a closed-end fund?
- Who are closed-end funds suitable for?
- What fees are assessed for closed-end funds?
Code of Conduct (FE INT)
10537
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.
10537
15
10
- How to work with Prospects and Clients - How to work with other representatives - How to work with your firm and its employees
This course is intended for representatives, investment advisers, institutional representatives, traders and supervisors who have a well-rounded background in the issuance, distribution, and risk-analysis of conventional securities. Those taking this course should have an intermediate understanding of the securities markets and the wide variety of securities products being offered to investors. This course provides an introduction to collateralized mortgage obligations (CMOs) and examines the basics of this form of securities, as well as the ways in which the risks associated with them can be mitigated or controlled. This course begins with an examination of mortgage backed securities, including "Fannie Maes," "Ginnie Maes," "Freddie Macs," and "Non-Agency" CMO's. Because there is a wide range of CMOs designed to meet the needs of a wide range of investors, and they are not a one-size-fits-all investment, it's vital to understand the basics of the CMO product and its many variations in the market today.
This course is intended for representatives, investment advisors, institutional representatives, traders, and supervisors who have a well-rounded background in the issuance, distribution, and risks of conventional securities. Common stock investing has become more popular as more investors have become knowledgeable in the way that stocks trade and can be used to generate a profit. Common stock investing has become more accessible to small investors through the advent of online trading accounts and through multi-faceted broker/dealers that offer various trading options. This course will provide students with a good understanding of common stock investing highlighting the advantages and disadvantages to be aware of.
11070
35
30
- Rights of Common Stockholders
- Dividends
- Dividend Yield
- Dilution of Common Stock and Preemptive Rights
- Stock Splits, Dividends, and Reverse Splits
- Risks of Owning Common Stock
- Preferred Stock
- Non-Voting
- Types of Preferred Stock
- Cumulative vs. Non-Cumulative
- Convertible vs. Non-Convertible
- Participating vs. Non-Participating
Communications with the Public for Registered Representatives (FE INT)
10120
Overview
This course is a review of the 2200-series of rules for Communications with the Public. The core rule for these communications, FINRA Rule 2210, is covered, along with subsequent rules 2212, 2213, 2214, 2215, 2216 and a few nonconsecutive rules to ensure a complete study of FINRA's requirements for properly communicating with retail and institutional investors.
Communications with the Public: Best Practices for Wholesalers (FE INT)
9825
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.
9825
35
17
- Communication Categories
- Content
- Approval
- Recordkeeping
- Filing
- Social Media
- Best Practices
Complex Investment Strategies (FE INT)
11466
Intermediate
This course provides information for representatives and supervisors regarding the use of complex/alternative investment strategies.
11466
36
30
- Types of alternative strategies, and how they employ derivatives and other alternatives achieve strategic investment objectives such as hedging risk, mitigating volatility, or magnifying gains to achieve better performance in a variety of market conditions.
- Modern Portfolio Theory (MPT) statistics (alpha, beta, Shape ratio, R-squared, standard deviation) and the use of alternatives within an MPT framework.
- Costs, risks and benefits of alternative strategies
Complex Products and Heightened Supervision (FE INT)
11249
Intermediate
This course was developed to address concerns of the Financial Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) regarding complex products and heightened supervision. Complex products sold to retail customers are all the rage, but the result for regulators is heightened supervision of the firms, registered representatives, and the status of the products' performances.
11249
35
30
course addresses the financially complex products that require the utmost attention of the financial industry's regulators in an effort to protect investors and the integrity of the markets.
Compliance Safety Measures When Working With Senior Investors (FE INT)
9891
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.
9891
42
20
- Needs of Senior Investors
- Senior Safe Act
- Working with Senior Investors
- Disciplinary Actions
- Investor Alerts
NEW! - Conducting Business in a Pandemic: BCP and Regulatory Guidance (FE INT)
15391
Overview
What happens when disaster impacts every single broker-dealer and regulator at the same time? How can we respond, pivot, and ensure business goes on? This course covers the Business Continuity Plan requirements for U.S.-based broker-dealers and the regulatory response from FINRA to the COVID-19 crisis in 2020.
15391
41
30
Conflicts of Interest (FE INT)
9964
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.
9964
27
15
- Overview of Conflicts of Interest in the Securities Industry
- Fiduciary Duties
- Applicable FINRA Rules
- Common Conflicts of Interest
- Churning
- Insider Trading
- Anti-fraud Provisions
- Minimizing Risk
Conflicts of Interest and Investment Advisers (FE INT)
9849
Intermediate
This course discusses the most likely ways that conflicts arise for investment advisers and how to effectively manage and disclose them. Additionally, the course focuses on adhering to your firm's Code of Ethics and identifying any conflicts of interest pursuant to Rule 206(4)-7.
9849
29
20
Conflicts of Interest for Institutional Clients (FE INT)
10865
Intermediate
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, as well as the importance and benefits of navigating through these challenges.
This course is intended for registered representatives, supervisors, market makers, traders, financial professionals and anyone working with, or interested in the sale of, convertible securities. A convertible security is characteristically a bond or a preferred stock that can be converted into a different security and typically shares in the company's common stock.
In most cases, the holder of the convertible determines whether and when a conversion occurs. In other cases, the company may retain the right to determine when the conversion occurs. This course will introduce representatives to the concept of investments in convertible securities, covering step-up income, trading at parity, conversion price vs. call price, and the differences between convertible securities, bond and stock investments.
1983
37
20
- Convertible Bonds & Preferred Stock - Payment in Kind (PIK) - Step-up Income Redeemable Equity Note - Conversion Calculations - Trading at Parity - Conversion Price vs. Call Price - Forced Conversion - Anti-Dilution Clause - Convertible Securities vs. Bonds - Convertible Securities vs. Stocks
Corporate and Government Bonds (FE INT)
11065
Intermediate
This course provides an overview of corporate and government bonds, including those issued by government agencies, GSEs, and the US Treasury. The course discusses the risks of bond investing, and compliance considerations including those centering on suitability, know-your-customer, communications with the public, and best execution obligations.
11065
61
30
- Overview of corporate and government bonds
- Key concepts and terminology
- Bond pricing and effects of yields, maturities, and interest rates
- Risks of bond investing
- Just and equitable principles of trade
- Communications with the public
- Know your customer
- Suitability
- Best execution
- TRACE reporting
Corporate Bonds (FE INT)
12403
Overview
This course is intended for registered, supervisors and other employees of broker/dealers. The individual who will gain the most from this course should have a basic understanding of how bonds are issued, purchased, and sold. Companies seeking to raise capital have the choice of using equity or debt instruments to do so. One of the most common debt instruments used to raise or borrow capital is bonds. This course provides an in-depth overview of corporate bonds, touching on topics from how they are priced, how they trade, and how they can be used to finance specific needs.
12403
37
20
- Characteristics of Corporate Bonds
- Registered Form and Book Entry Form
- Principal Only Registration
- Trust Indenture
- Bond Indenture
- Convertible Bonds
- Pit (or Tender) Option Bonds
- Serial Bonds
- Series Bonds
- Term Bonds
- Bond Redemption
- Secondary Market
- Corporate Bonds
- Equipment Trust Certificates
- Zero Coupon Bonds
Corporate Culture and Supervision - FINRA Enforcement Actions (FE INT)
9882
Intermediate
This course will discuss the progression of regulators' focus on corporate culture and expectations for creating and maintaining a culture that promotes compliance with securities regulations and company policies.
9882
37
20
- Prioritization of Culture by Regulators
- Culture, Conflicts of Interest and Ethics
- Supervision, Risk Management and Controls
- Guidance from Banking Regulators
- Enforcement Actions for Cultural Failures
Crowdfunding (FE INT)
11229
Intermediate
This course describes the methods, goals and regulations for raising capital via the internet by small investments from a large number of donors/investors.
11229
28
25
Cryptocurrency (FE INT)
9887
Overview
Along with enormous potential and extraordinary market volatility, cryptocurrency comes with the threat of abuses and criminal activity. This course will discuss the development of this new technology, its explosive growth and subsequent setbacks, the nascent development of regulations to provide investor protections and some of the criminal cases that highlight cryptocurrency's vulnerability.
Customer Complaints and Dispute Resolution (FE INT)
12635
Overview
This course is primarily designed for registered representatives of FINRA regulated broker-dealer firms. It may also be appropriate for registered principals and compliance staff at a broker-dealer, as well as registered persons of Registered Investment Advisors and their supervisory staff. The course begins with an overview of the many regulatory requirements surrounding customer complaints. It then looks at Dispute Resolution in the securities industry, in particular the systems of arbitration and mediation that are sponsored by FINRA.
12635
40
30
Customer Data Protection (FE INT)
10157
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.
10157
39
30
- Identity Theft
- Federal Customer Data Safety Requirements and their Sources
- FACTA Red Flags Rule
- Privacy and Protection
- Exploitation of Data, Systems, Firms, and Customers
- Cyber Criminals vs Traditional Criminals
- Technology and Software/Hardware Breaches
- Examples of System Failures
Customer Data Protection and the Municipal Securities Representative (FE INT)
11467
Overview
This course is intended for municipal representatives, supervisors, investment advisers or any financial service industry professional interested in learning how industry rules apply to the use and supervision of customer data. As a municipal representative, you need to know and follow your firm's policies and procedures for customer data protection. Failing to protect non-public customer information can make your customer vulnerable to identify theft. This is a serious issue for many businesses within, as well as outside of, the securities industry.
11467
19
15
- SEC Rule 30 of Regulation S-P
- Data Vulnerability
- Municipal Representative Responsibilities
- Examples of Customer Data Protection for the Municipal Securities Representative
- Conclusion
Customer Due Diligence (CDD) Rule (FE INT)
11256
Overview
Money Laundering and Terrorist Financing investigations are never simple. The web of relationships, accounts, and entities is typically complex and deep with true ownership of the underlying assets hidden beneath shell entities. The regulatory environment is often reactive, relying on past examples to create framework for the future. The United States regulatory environment is not immune to this mode of operation. The Financial Crimes Enforcement Network (FinCEN) has updated the requirements for customer due diligence in an attempt to be more proactive in requiring the financial system's participants to take steps in identifying high risk clients based on ownership structure. This course examines the 2018 Financial Crimes Enforcement Network's (FinCEN) Customer Due Diligence Rule through case studies and real life examples of how broker-dealers and financial institutions are examining client relationships through this new lens.
11256
39
40
- What is FinCEN?
- Four Pillars of Anti-Money Laundering
- The 5th Pillar
- The CDD Rule
- Important Definitions
- Four Core Principles of CDD
- Nonprofits and Charities
- Practical Application of the Rule
- Recent Enforcement Actions
Cybersecurity & FINRA (FE INT)
9907
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.
9907
32
30
- Unauthorized access
- Operational disruption
- Disclosure of risk factors and cyber-attack events
- Regulatory guidance and rulemaking
- FINRA Regulatory and Examinations Priorities Letter
- FINRA Report on Cybersecurity Practices
- FINRA Investor Alerts
- Steps toward cybersecurity
Cybersecurity (FE INT)
9856
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.
9856
36
30
- Unauthorized access
- Operational disruption
-Disclosure of risk factors and cyber-attack events
- Regulatory guidance and rulemaking
- FINRA Regulatory and Examinations Priorities Letter
- FINRA Report on Cybersecurity Practices
- FINRA Investor Alerts
- Steps toward cybersecurity
Cybersecurity for Registered Representatives (FE INT)
9755
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.
9755
43
30
- Unauthorized access - Operational disruption - Disclosure of risk factors and cyber attack events - Regulatory guidance and rulemaking - Steps toward cybersecurity
Cybersecurity for Supervisors (FE INT)
10263
Overview
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.
10263
38
40
- Unauthorized access - Operational disruption - Disclosure of risk factors and cyber attack events - Regulatory guidance and rulemaking - Steps toward cybersecurity
Cybersecurity: Phishing (FE INT)
9756
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.
9756
22
20
- Cybersecurity
- Phishing
Deferred Variable Annuities (FE INT)
11290
Overview
This course is intended for registered representatives and their supervisors involved in the recommendation and placement of variable annuities. The course presumes a basic understanding of variable annuity suitability and exchanges. This course covers a broad range of issues relating to variable annuities to help representatives learn ways to guide clients through the various annuity products available in the market today. The course will educate representatives about the risks associated with variable annuity investing. It will also discuss purchasing variable annuities and the importance of following annuity suitability requirements.
11290
31
26
- Introduction to Investment Risks
- The Three Main Investment Risks
- Inflation Risks
- Variable Annuities and Mutual Funds
- Purchasing Variable Annuities
- Introduction to Investment Risks
- The Three Main Investment Risks
- Inflation Risks
- Variable Annuities and Mutual Funds
- Purchasing Variable Annuities
- Separate Accounts & Variable Annuity
- Pay-In and Pay-Out Phases
- Assumed Interest Rate & Exclusion Ratio
- Hypothetical Illustrations
- Rule 2330 & Client Profile
Delaware Anti-Sexual Harassment Training
10392
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.
10392
40
30
Delivering Quality Customer Service (FE INT)
10891
Intermediate
This course is directed to registered representatives, office support staff, investment advisors and supervisors that primarily work with retail clients. Students will gain an understanding of the skills, attitudes, and thinking patterns needed to win customer satisfaction and loyalty. The process includes developing: 1) a heightened awareness of the challenges and opportunities, 2) the tools for dealing with unhappy customers by using the power of customer expectations and by creating loyalty, 3) specific skills for professional success. This course will provide students with a solid foundation in the areas of customer service and service excellence.
10891
126
65
- Savvy Buyer - Cost Efficiencies in Serving Customers - Loyalty Factor - Satisfied Customers and Referrals - Customer-Centered Company - How Customers Evaluate Service - Written Communication - Nonverbal Communication - Professionalism through Verbal Communication - Developing a Professional Aptitude - Building Professional Relationships - Listening: The Neglected Communication Skill - Impact of Technology - Automated Phone Systems - Phone Etiquette - Voicemail - Email - Effective Questioning
Digital Assets (FE INT)
11410
Overview
Broker-dealers and others in the financial industry are dealing with a world that is rapidly changing. With the rise of technology and digital assets, including cryptocurrency, social media accounts, subscriptions, apps, photos, file storage, websites and more, broker-dealers are learning that clients' physical and financial assets are just one aspect of their lives that need to be evaluated and secured. As FINRA becomes more involved with how the financial industry handles digital assets, education is needed. This course will cover what must be reported to FINRA, what constitutes a digital asset, how to help clients secure and plan for the future, and other important issues.
11410
25
30
- FINRA Regulatory Notice 18-20
- What are Digital Assets?
- Assisting Your Clients in Creating a Digital Assets Plan
- Helping Clients Who Must Handle a Deceased Individual's Digital Assets
- Helping Your Clients Keep Digital Assets Alive
- Digital Assets as Securities
Direct Participation Programs: Registered and Unregistered Limited Partnerships (FE INT)
11184
Advanced
Limited partnerships are risky, illiquid investments. While the risk is limited to the amount invested, all of the money is at risk. The transfer of limited partnership units is usually restricted by contract, especially for private placement units. Therefore, these investments are suitable for those investors that have long-term investment goals, who will not need the money during the term of the investment and are willing to risk the entire amount invested. The main tax advantage of a limited partnership is that it is a flow-through instrument - all profits and losses flow directly to the individual limited partners. In other words, the limited partners directly participate in the profits and losses of the limited partnership but not the business itself. This course discusses types of DPPs, tax considerations, regulatory considerations and things to consider when evaluating a DPP as an investment.
11184
29
15
- Types of DPPs
- How DPPs are offered and sold
- Tax considerations for the DPP investor
- Regulatory considerations
- Evaluating a DPP as an investment
Disability Income Insurance (FE)
2772
Advanced
This course is intended for producers and supervisors that market and sell insurance products to consumers. This course provides a detailed review of the basics of disability insurance and addresses concerns related to individuals and businesses. Topics include the need for disability insurance, how the policies work and how they are issued. Broad issues of a policy such as underwriting, defining a disability and riders will also be covered. Several case studies provide excellent examples of issuing the most applicable policies. Representatives will be provided with advanced sales solutions to help their clients plan a sound future.
2772
137
69
- Why Disability Income Insurance?
- Partial Income Replacement
- Elimination Period
- Benefit Period
- Individual Purchase vs. Group Purchase
- Tax Consequences
- Trade Associations
- Employee Group Coverage
- Probationary Period
- The Large Corporation
- Business Overhead Expense
- Step Rate & Waiver of Usual Issuing Limits
- Underwriting
- Renewability
- Long and Short Term Disability
- Social Security
Disclosures in Connection with Primary Offerings (MSRB Rule G-32) (FE INT)
9835
Intermediate
This course was developed to meet MSRB continuing education requirements. It is titled after MSRB Rule G-32, Disclosures in Connection with Primary Offerings. There is strong focus on the disclosures required of underwriters and issuers, and the transparency afforded to investors.
9835
29
35
- Understand disclosure requirements mandated by the federal municipal securities laws of the SEC and MSRB
- Distinguish between the disclosure obligations of underwriters and those of issuers
- Recognize the documents underwriters and issuers must disclose
- Locate disclosure resources
- Realize how disciplinary actions are taken and sanctions determined when disclosure responsibilities are not met
Dodd-Frank Wall Street Reform and Consumer Protection Act (FE INT)
12294
Advanced
This course is intended for retail representatives, institutional representatives, investment advisors, supervisors or any financial service industry professional interested in learning how the Dodd-Frank Wall Street Reform and Consumer Protection Act affects them and the financial services firms they work for. The Dodd-Frank Wall Street Reform and Consumer Protection Act were signed into law on July 21 2010. The Act affects almost every aspect of the U.S. financial services industry. The objectives of the Act include restoring public confidence in the financial system, preventing another financial crisis, and allowing any future asset bubble to be detected and deflated before another financial crisis occurs. The Dodd-Frank Act greatly increases regulation of the financial services industry. The Act gives U.S. governmental authorities more funding, more information and more power. In broad and significant areas, the Act empowers regulators with complete discretionary authority to write and interpret new rules.
12294
65
35
- Orderly Liquidation Authority
- Key Measures to Address Systemic Risk
- Federal Reserve Emergency Credit
- Financial Institutions
- Volcker Rule
- Private Fund Investment Advisers
- Insurance Companies
- Supervision of Payment, Clearing and Settlement
- Capital Markets
- Derivatives and Swaps Clearinghouses
- Securitization
- Investor Protection and Securities Enforcement
- Governance and Compensation
- Consumers
Due Diligence for Investment Advisers (FE INT)
11227
Overview
This course is designed to provide investment advisers with an understanding of their obligations to perform due diligence on third parties. The course discusses due diligence on service providers the firm uses, as well as the obligations and potential liabilities involved when recommending third parties to clients. The course also discusses due diligence in the context of the growing use of social media by investment advisers.
11227
42
22
- Custodians
- Third-party managers
- Attorneys, accountants, and other professionals recommended to clients
- Data archiving, document management, contact management, billing and reporting software or solutions providers
Economic Growth and Tax Relief Reconciliation Act of 2001 (FE)
77
Intermediate
This course is intended for retail representatives, institutional representatives, investment advisors, supervisors or any financial service industry professional interested in learning how the Economic Growth and Tax Relief Reconciliation Act of 2001 affects them and the financial service firms they work for. This course explains the main provisions in the monumental Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001, as amended by the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) of 2003. It focuses on the critical changes involving income estate and gift tax retirement planning, the implications for individuals, and the opportunities and pitfalls facing financial service professionals over the next decade.
0077
35
20
- Descriptions of Economic Growth and Tax Relief - Reconciliation Act and the Jobs and Growth Tax - Relief Reconciliation Act - The Act Caused Sweeping Changes - Rate Changes - Itemized Deduction Reduction Repealed - Personal Exemption Phase-out Repealed - Child Tax Credit and Adoption Tax Benefits - Dependent Care Credit - Standard Deduction Increase - Expansion of 15% Bracket - Modification of Education IRAs - Educational Assistance - Contributions - Benefits
Economic Indicators (FE INT)
11337
Intermediate
This course is intended for representatives, investment advisors, institutional representatives, traders, analysts, and supervisors who have a well-rounded background in the issuance and distribution of conventional securities. This course will review the various economic indicators that aid in the analysis of economic performance and predictions of future performance. Although they do not have a perfect record, economic indicators and leading indices of the national economy have been helpful in foreshadowing turning points, especially economic downturns. As such, this course will cover the impact that these indicators have on the market and begin to help industry professionals understand how to interpret and analyze them.
11337
43
32
- Economic Indicators - Beige Book - Consumer Confidence & Price Index - Employee Cost Index - Employment Situation Report - Gross Domestic Product - Housing Starts - Philadelphia Fed Index - Producer Price Index - Purchasing Managers' Index - Retail Sales Data
Effective Marketing Strategies Utilizing Social Media (FE INT)
11157
Intermediate
This course is intended for representatives, investment advisors, institutional representatives, supervisors and marketing staff that work with both clients and prospects in a retail and institutional environment. Social Media use for both business and personal purposes has exploded in the past few years. Recently, the financial services industry has begun to embrace this new way to interact with and market to clients and prospects. With that, there remains doubt and confusion as how to best utilize this exciting medium. This course will provide representatives with an overview of the different social media mediums. It will look at the various types of regulatory requirements that govern these communications. Finally, the course will teach representatives how to utilize social media for marketing communications, customer service and branding.
11157
63
34
- Description of Social Media - Six Types of Social Media - How Social Networks Work - What is Social Media Marketing - Compliance Overview - FINRA and SEC Compliance Rules for Using Social Media - Social Media Suitability - Record Keeping Requirements - Supervisor's Responsibilities - How to Successfully Market to Clients and Prospects While Remaining Compliant
Effects of Market Uncertainty on Retirement Planning (FE)
2773
Intermediate
This course is directed to registered representatives,
Investment advisers and their supervisors that work in the area of retirement planning with clients.
This course will help the student understand the
Psychological and financial impact that market volatility has on consumers and on the retirement planning process. It will discuss how variable products can provide both tools and solutions to mitigate the effects of market uncertainty on retirement portfolios.
2773
53
30
- Market Uncertainty and Investor Reaction - Long-Term Nature of Variable Annuities - Stock Market Investing Over Time - Inflation / Buy and Hold Strategy - Tax-Deferral Strategy - Price Waterhouse Coopers Study - Improved Death Benefit / Enhanced Earnings - Time in the Market / Dollar Cost Averaging - Split Annuity Strategy / Asset Allocation - Adjusting Subaccount Investments - Guaranteed Living Benefits - Death Benefit / Income in Respect of a Descendent
Electronic Communications for Registered Representatives (FE INT)
10042
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.
10042
32
20
- Changes with Technologies
- The Rules of Yesterday and Today
- General Compliance Requirements
- Conduct Rules that Apply to Internet Usage
- Use of Current Information
- Supervision: Conduct Rule 3110
- Surveillance
- Use of Texting, E-mail and Instant Messaging
- Communications with the Public: Conduct Rule 2210
- Institutional Communications: Conduct Rule 2210(b)
- Chatrooms and Websites
- BrokerCheck Reference and URL Requirement
Electronic Communications with the Public for Wholesalers (FE INT)
10895
Intermediate
This course is intended for wholesalers and covers guidelines for communicating with the public and registered representatives. The course emphasizes FINRA guidance on this subject and applicable rules and standards. Specific topics addressed in this course include institutional communications, specific rules for wholesaler communication and guidance for content and record keeping.
10895
33
20
- Overview of Institutional Communications
- Issues Related to Advertising
- Electronic Communications by Wholesalers
- Seminars by Wholesalers
Equity Indexed Annuities (FE INT)
10665
Advanced
This course is intended for registered representatives and their supervisors that work in the area of retirement planning with clients utilizing annuity products. Offering an understanding of equity indexed annuity contracts, this course explores the market and economic conditions that caused equity indexed annuities to evolve. It also discusses how the contracts work and how they differ from declared interest rate fixed annuity contracts. Finally, the course looks at how the equity-linked concept should be positioned within a client's overall portfolio.
10665
100
45
Equity Indexed Annuity Concept
-Keys to Understanding Equity Indexed Annuities
-Suitability of Equity Indexed Annuities
-Fixed Annuity Features
-Sources of Retirement Income
-The Evolution of Equity Indexing
-Mechanics of EIAs
-Indexing Methods
-Good Market Conduct
ERISA Qualified Plans - The Financial Advisor's Role (FE INT)
10052
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.
10052
33
30
- ERISA covered plans
- DOL rules regarding ERISA plans
- Fiduciary and non-fiduciary services
- IRS prohibited transactions
- Qualified plan rollovers to IRAs
- Rollover suitability
- Proposed expansion of fiduciary definition
ETF Investing (FE INT)
10186
Overview
This course is intended for registered representatives and firm supervisors that primarily work with retail and institutional clients. The course familiarizes representatives on the terminology commonly used with these types of securities and prepares them with the necessary tools to understand and explain these complex investments to clients. This course looks at ETFs and defines what they are, the size of the market, their history, how they work and the different types. The course also explores FINRA's communications related to ETFs and looks at suitability communication supervision and training related to the use of these investment products.
10186
65
44
- ETF History - Unit Investment Trusts - Grantor Trust - Limited Partnerships - Types of ETFs - Diversification - Leverage - Options - ETFs vs. Exchange-Traded Notes - Taxes and Portfolio Turnover - ETFs vs. Closed-End Funds - Closed-End Funds vs. ETFs - Commodity Investing - Contango vs. Backwardation - Commodity Sectors - Type of Orders - Advanced ETF Strategies - Investor Considerations - FINRA Rules - Training
Ethical Issues Facing the Financial Services Industry (FE INT)
13133
Overview
This course is appropriate for anyone working in the financial services industry. It begins with a look at ethical issues facing the industry, and briefly defines ethical standards and why they are important. The course then gives an overview of the regulatory requirements from FINRA and the SEC that are designed to promote ethical standards and provides examples of recent charges. The course concludes with the understanding that rules and regulations alone are not enough to ensure ethical behavior.
13133
36
30
Ethical Standards for Producers (FE INT)
10683
Advanced
This course is intended for registered representatives and supervisors that work with clients that are interested in, or currently hold, annuity/ insurance products. Upon completing this course, producers will have a better understanding of the importance of ethics in the insurance industry. Producers will learn the standards and requirements they are to uphold, as well as how to successfully implement these standards when dealing with both clients and insurance companies. This will allow the producers to create both a personal and professional code of ethics, which they can follow in each and every aspect of their business.
10683
114
60
- The Components of an Ethical System
- Ethics in Modern Society
- Ethical Decision Making
- A Personal Code of Ethics
- Standards of Ethical Behavior
- Professionalism
- Requirements of Professional Ethics
- Ethics and the Insurance Industry
- Public Expectations and the Insurance Industry
- Ethics for Insurance Producers
- Agency Law Principles
- Authority of an Agent
- Selecting Insurance Companies to Represent
- Advice to Agents
Ethics and Professional Conduct (FE INT)
9857
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 offers a glance at past legislation that has brought us to where we are today. By also outlining the responsibilities of each professional, this course sheds light on why it is imperative that all members of any profession maintain and adhere to professional ethical standards.
9857
66
35
- An Introduction to Ethics
- Important Concepts: Efficiency, Reliability, Knowledge and Due Diligence
- Valuing Professionalism
- Characteristics of a Professional
- Why look at the Past?
- The Armstrong Investigation of 1905
- Stock Market Reforms
- Suitability Rule
- Industry Ethics
- Compliance and Professionalism
- Good Business Ethics
- What is Professionalism?
- Good Business Ethics
- The Pursuit of Excellence
- Due-Diligence
-Helping the Client
- Understanding Ethics
Ethics and Professional Conduct for the Municipal Securities Representative (FE INT)
10064
Overview
This course is intended for municipal securities brokers, municipal securities dealers, municipal securities sales representatives, municipal finance professionals (MFPs) and their supervisors. This course is geared towards the municipal securities representative discussing the nature of ethics and to whom the representative has an ethical responsibility. The course explains the importance of increased professionalism and offers practical guidelines for ways representatives can differentiate themselves ethically and professionally on a daily basis.
10064
30
15
- Ethical Conduct - Important Concepts for Ethical and Professional Conduct - Due Diligence & Valuing Professionalism - Industry Ethics - Cross-Selling, Switching and Churning - Helping the Client & Compliance and Ethics
Ethics and the Research Analyst FINRA Conduct Rules (FE INT)
10293
Advanced
This course is intended for research analysts, their supervisors, managers, and any financial services professional interested in how ethical behavior influences our actions and behaviors. Ethics for research analysts often involves conflicts of interest and the responsibilities surrounding avoidance of these conflicts. This course discusses the potential conflicts of interest research analysts face and the FINRA rules designed to eliminate these risks.
10293
28
30
- Definition of Research Analyst - Research Analyst Registration - The Role of a Research Analyst - Potential Conflicts of Interest - FINRA Rule 2241 - Restrictions on Publishing Research Reports - Recordkeeping for Public Appearances - Third-Party Research Reports - Content, Disclosures and Recordkeeping - Disclosure - Receipt of Compensation - Position as Officer or Director - Ratings & Price Chart - Procedures and Small Firm Exceptions
Ethics and the Securities Futures Professional (FE INT)
10139
Advanced
This course is intended for securities futures professionals and their supervisors, managers and any financial services professional interested in how ethical behavior influences our actions and behaviors. Like any other business process, being aware of changing industry standards and ensuring high ethical standards is an on-going effort. Developments in technology, commercial practices and regulations, and other changes will have ethical ramifications associated with them. Good business practice dictates that every employee receives training to keep them current on these developments and their ethical obligations to customers.
10139
66
45
- Securities Futures Products (SFPs) Laws - Registration and Licensing - Proficiency Requirements - Ethics Training & Basics of Futures - Exchanges, Clearinghouses, Market Professionals - Types of Securities Futures Products - Know Your Customer & Opening a Futures Account - NFA Compliance Rule 2-30/Suitability Requirements - Supervision of Futures Accounts and AML - Promotional Material, Public Communications - Hiring and Entering Guarantee Agreements
Ethics for the Financial Services Professional (FE INT)
10050
Overview
This course is intended for registered representatives, investment advisors, compliance staff and supervisors that are responsible for working with clients. This course provides an overview of the characteristics of ethics and professionalism. Topics include the standards by which a professional should be judged, as well as a study of ethics on its philosophical and compliance levels.
10050
76
60
- What is Professional Ethics?
- Advantages and Disadvantages of Code of Ethics
- Example of Professionalism & New Opportunities
- Demand for Recognition as a Professional
- Professionalism & High-Quality Workmanship
- Education & Uncompromised Values
- The Past as Prologue to the Future
- New Standards for Ethical Conduct
- Ethics on the Philosophical Level
- Compliance Needs Ethics and the Letter of the Law
- Valuing Compliance and Market Conduct
- Protect Your Client, Not Yourself
Exchange Traded Notes (ETNs) (FE INT)
10581
Overview
Introduced in the early 2000s, exchanged traded notes (ETNs) are senior, unsecured and unsubordinated debt securities. They are issued by a financial institution in which that financial institution agrees to pay the holder of the ETN the return on a specific index over a certain period of time, along with the principal amount less any management fees at the maturity date of the contract. This course will provide a complete overview of how exchanged traded notes are used, taxed, and the risks associated with them.
10581
21
30
Executive Bonus Plans (FE INT)
11904
Intermediate
This course is intended for registered representatives and their supervisors that work in the business of retirement planning. Specifically, this course is for registered representatives who open retirement accounts for retail investors and advise them on issues related to retirement and estate planning. This course will introduce the financial services practitioner to one of the major types of non-qualified benefit programs used by business owners to benefit themselves and attract and retain key executives. This course addresses the basics of executive bonus plans, as well as the advantages and disadvantages of such plans for the employer and the executive. Plan participation issues are explored, including who should be included in such plans, ERISA requirements and organizational implications. The many forms of executive bonus plans are addressed and the taxation of such plans is covered.
11904
30
15
- Basics of Executive Bonus Plans
- Section 162 Plans & The Need for Incentives
- The Employer's Bonus & How to Authorize a Plan
- Benefits to the Employer & Selectivity
- Current Income Tax Deduction
- Ease of Communication and Administration
- Post-Retirement Benefits & Disadvantages
- Formula Method, Flat Amount/Flat Percentage Method and Vesting
- Income Taxation of Distributions
FACT Act of 2003 - The Red Flags Rules (FE INT)
12767
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.
12767
27
15
- Defining financial institutions, creditors, and covered accounts
- Development of Identity Theft Prevention Programs
- Changes of address for debit and credit cards
- Notices of address discrepancies in regards to credit reports
Fails and Fines: Regulatory Do's and Don'ts (FE INT)
10228
Overview
In this course, we'll review some of the most outlandish disciplinary cases from 2015 and identify the source of each violation.
10228
30
30
- Ex-employee terminates boss through Web CRD
- Broker fakes death to avoid FINRA investigation
- Stockbroker takes selfies with confidential data
- Man eats Post-Its to conceal insider trading information
- SEC sanctions for attempting to silence whistleblowers
- Broker steals $6.5M, purchases $22k lawn statue
- Broker swindles $1.8M from client with Alzheimer's
Fee Selection and Reverse Churning (FE INT)
10084
Overview
This introductory-level course looks at the considerations that should enter into a recommendation for a fee-based account arrangement. With an increased number of assets being invested in fee-based accounts, this course provides practical steps for managing conflicts of interest that may arise.
10084
13
20
- Reverse Churning Defined
- Regulatory Background
- Commission-Based Vs. Fee-Based Account Conflicts of Interest
- Practical Steps for Managing Conflicts of Interest Related to Fee-Based Accounts
- Supervisory Procedures
Financial Exploitation of Specified Adults & Customer Account Information (FINRA Rules 2165 & 4512) (FE INT)
9869
Overview
New FINRA Rule 2165 addressing 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 financial exploitation of seniors and other vulnerable adults.
9869
30
20
- Background
- Customer Accounts
- Financial Exploitation
- Specified Adults
- Temporary Holds on Disbursements
- Trusted Contact Persons
- Diminished Capacity
- Red Flags for Financial Exploitation
Financial Performance Evaluation (FE INT)
10866
Advanced
This course is intended for registered representatives, salespeople, market makers, traders, securities analysts, financial professionals and anyone interested in learning more about how to use ratio analysis to evaluate financial performance. Additionally, course takers will look at how comparing financial statements from period to period, or with varying companies, can be an effective way to evaluate financial performance.
10866
43
20
- Why Use Ratios?
- Return on Equity
- Calculating Return on Equity
- Profit Margin
- Asset Turnover
- Components of Return on Equity
- Liquidity Ratios
- Accounts Receivable Turnover
- Days in Inventory
- Profitability Ratios
- Market Value Ratios
- Comparing Financial Statements
FINRA and SEC Examination Priorities for 2016 (FE INT)
11560
Overview
Recap some of the top fines from 2015 and spotlight both FINRA and the SEC's 2016 examination priorities letters, highlight overlapping concepts, super-sized fines and strategies for building a culture of compliance.
11560
43
25
- FINRA Examination Priority Letter
- SEC Examination Priority Letter
- 2015 Fines
- Strategies for building a compliance culture
FINRA and SEC Examination Priorities for 2017 (FE INT)
10029
Overview
With so much on the line, firms today simply can't afford to ignore the early warning signs of what FINRA and the SEC expect to see during routine examinations. In this course, we'll outline the SEC and FINRA's 2017 examination priorities letters, discuss what the future of these two organizations looks like under new leadership, and provide strategies for preparing for an onsite investigation. Upon completion of this course, it is important that you review and update your policies, procedures and business activities to reflect both sets of priorities so you can strengthen business practices and prepare for potential exams in the future.
10029
37
25
FINRA and SEC Examination Priorities for 2018 (FE)
9529
Overview
This course will summarize the SEC and FINRA's recently released examination letters, discuss any changes to be expected in 2018, and provide strategies for preparing for an onsite examination.
9529
50
30
FINRA and SEC Examination Priorities for 2019 (FE INT)
11035
Overview
It's the news we all wait for on pins and needles: FINRA and the SEC's annual examination priorities. While regulators are definitely focusing a majority of their attention on recurring issues, there are a handful of developing risks for firms to pay special attention to this year. In this course, we'll summarize the SEC and FINRA's recently released examination letters, discuss any changes to be expected in 2019 and provide strategies for preparing for an onsite examination.
11035
24
20
FINRA and SEC Examination Priorities for 2020 (FE INT)
12640
Overview
It's the news we all wait for on pins and needles: FINRA and the SEC's annual examination priorities. While regulators are definitely focusing a majority of their attention on recurring issues, there are a handful of developing risks for firms to pay special attention to this year. In this course, we'll summarize the SEC and FINRA's recently released examination letters, discuss any changes to be expected in 2020 and provide strategies for preparing for an onsite examination.
12640
32
20
FINRA Back Office Operations (FE INT)
10640
Overview
This course is intended for back office staff, registered representatives, supervisors and compliance staff that are interested in learning more about the "Back Office" Operations of a broker/dealer and the regulations that they are required to comply with. This course provides an overview of the "back office" requirements and regulations involving the operation of a broker/dealer. The course reviews the various roles of the purchase and sales department, the margin department and cashiering department. Finally, the course covers FINRA and SEC record keeping requirements.
10640
22
15
- Purchase & Sales Department - Margin Department - Cashiering Department - Good Delivery - Recordkeeping Responsibilities - FINRA Rule 3110 - Books and Records - Customer Account Information - Record of Written Complaints - "Complaint" Defined - Order Audit Trail System Record keeping Requirements - Holding of Customer Mail - Changes in Account Name or Designation
FINRA Code of Arbitration, Mediation and Procedure (FE INT)
11017
Overview
Arbitration is an alternative to litigation in which an arbitrator or a panel of arbitrators listen to the positions of the disputing parties in a relatively informal proceeding and then issue a decision on how the situation should be resolved. This course provides representatives with an understanding of the rules and processes in place to be followed, utilizing FINRA Code of Arbitration Mediation and Procedures.
11017
17
8
- Code of Arbitration - Form U-4 - Forms of Arbitration - Dispute Resolution - Larger Disputes - Mediation Program - Code of Procedure - Censure - Fines - Suspension - Expulsion - Offer of Settlement
FINRA Conduct Rules (FE INT)
10985
Intermediate
This course is intended for registered representatives, institutional representatives, investment advisers, supervisors or any financial service industry professional interested in learning how industry rules apply to their responsibilities to ensure compliance with FINRA Conduct Rules. This course describes the purpose and mission of FINRA overall, as well as the role the self-regulatory authority plays in the financial services industry. The course also discusses FINRA's policies and regulatory reviews of members' business activities.
10985
39
25
- FINRA's Policies and Regulatory Reviews of Members' Business Activities - The Purpose & Function of FINRA - FINRA's Jurisdiction and By-Laws - Becoming a Member of FINRA - The Purpose of the Conduct Rules - The Uniform Practice Code - Blind Recruiting Ads - Conduct Rules Regarding OTC Retail Transactions - Rules Regarding Free-Riding and Withholding - The 5% Policy & Nominal Quotes
FINRA Restrictions on Broker Political Contributions (FE INT)
11561
Overview
This course discusses the proposed restrictions on broker political contributions by FINRA-registered member firms. Specifically, this course focuses on the two rules established by FINRA in response to SEC guidelines to regulate broker political contributions: Rule 2030(a) and Rule 4580.
11561
29
20
- Overview of FINRA Restrictions on Broker Political Contributions
- Definitions of Terms
- FINRA Pay-To-Play Rule Timeline
- FINRA's Proposed Pay-To-Play Rules
FINRA Restrictions on Broker Political Contributions - Vol. 2 (FE INT)
9888
Intermediate
This course was developed to meet FINRA continuing education requirements and its restrictions on political contributions. Political contributions are not forbidden by this rule if engaged in properly. For example, the de minimis exception allows donating to a candidate in one's own district, in an amount of $350 or less. However, there are forbidden contributions that, if violated, are a violation of FINRA Rule 2030, Engaging in Distribution and Solicitation Activities with Government Entities. This rule is largely mirrored from the SEC's pay-to-play rule. The SEC has oversight authority over FINRA and thus, the ability to bring civil and/or criminal charges for executing pay-to-play schemes.
9888
38
20
course helps the student:
- Understand the "pay-to-play" concept.
- Examine the words and terms as used by FINRA specific to Rules 2030 and 4580
- Learn the fundamentals of political contributions
- Apply the FINRA rules applicable to political contributions
FINRA Rule 1230(b)(6): Operations Professional Registration (FE INT)
11569
Intermediate
This course provides an overview of the category of FINRA registration for those personnel involved in certain types of broker-dealer operations. The course is designed for registered representatives and their supervisors, as well as personnel in the operations, compliance and registration/licensing areas. Upon completion of this course, representatives should be able to: identify "covered persons" who need to register as an operations professional; identify the "covered functions" that an operations professional is likely to perform; understand when someone is required to register as an operations professional, but is exempt from the examination requirement for the Series 99 based on his or her other securities registrations; discuss the subject areas covered by the operations professional examination; and know the timelines in which broker-dealer firms must comply with the new requirements.
11569
27
20
- Introduction
- Covered Persons and Covered Functions
- Operations Professional Registration
- The Series 99 Examination
- Exceptions to Operations Professional Examination Requirement
- Continuing Education Requirements
- Broker-Dealer Implementation Responsibilities
FINRA Rule 2210: The BrokerCheck Amendment (FE INT)
11592
Overview
This course outlines how to comply with FINRA's recent BrokerCheck link requirement. Effective June 6, 2016, firms will need to include a readily apparent reference and hyperlink to BrokerCheck on the initial Web page to be viewed by retail investors, and any other Web page that includes a professional profile of one or more registered persons, who conduct business with retail investors. To help satisfy this requirement, this introductory-level course provides background of the new rule and instructions for linking to BrokerCheck.
11592
16
20
- FINRA Rule 2210
- Rule Requirements
- Exceptions to Rule 2210(D)(8)(B)
- Social Media
- Firm Websites
- Appearance and Location of Hyperlink to Brokercheck
FINRA Rule 2273 - Educational Communication Related to Recruitment Practices and Account Transfers (FE INT)
11491
Overview
Introductory Course to FINRA Rule 2273 - Educational Communication Related to Recruitment Practices and Account Transfers. Effective November 11, 2016
11491
16
10
- FINRA Rule 2273 - Educational Communication Related to Recruitment Practices and Account Transfers
FINRA Rule 2330 Supervisory Training (FE INT)
11009
Overview
This course is intended for supervisors of registered representatives who market and sell deferred variable annuities. The course is also applicable for compliance staff that work with deferred annuity products. FINRA Rule 2330, Members' Responsibilities Regarding Deferred Variable Annuities, imposes requirements on FINRA members who recommend purchases or exchanges of deferred variable annuities. It also requires FINRA-registered principals to review and approve variable annuity transactions. This course explores FINRA Rule 2330 and the heightened requirements of supervisors of registered representatives who promote and sell annuity products. It provides a solid background for supervisors regarding variable product suitability requirements, and the responsibilities for supervising registered representatives as required by the rule.
11009
43
25
- Introduction
- Members' Responsibilities Regarding Deferred Variable Annuities
- Primary Components of Rule 2330
- Supplementary Material 2330.01 through 2330.07
- State Requirements
- Applicable Rules within Rule 2330
- Failure to Comply
- Customer Complaints
- Conclusion
FINRA Rule 3160 - Networking Arrangements with Members and Financial Institutions (FE INT)
9870
Overview
This course was developed to meet FINRA continuing education requirements. It addresses FINRA Rule 3160, Networking Arrangements with Members and Financial Institutions, which must be implemented by broker-dealers doing business on the premises of a retail financial institution.
9870
36
20
- Distinguish the bank broker-dealer role
- Understand bank broker-dealer requirements of Rule 3160
- Differentiate between its services and those of the retail financial institution
- Consider the implied rules the bank broker-dealer must implement
FINRA Rule 4110: Capital Compliance (FE INT)
11257
Intermediate
This course is intended for registered representatives, salespeople, market makers, traders, securities analysts, financial professionals and anyone interested in learning more about FINRA's capital compliance requirements. FINRA member firms are obligated to a set of Financial Responsibility Rules as part of the Consolidated FINRA Rulebook. These rules apply to member firms considered "carrying and clearing members." The rules: establish criteria promoting the permanency of members' capital, require the review and approval of certain material financial transactions, and establish criteria intended to identify members approaching financial difficulty, as a means to monitor their financial and operational condition. This course will review the aforementioned obligations pertaining to FINRA Rule 4110 for member firms.
11257
19
15
- FINRA Rule 4110 Background
- Authority to Increase Capital Requirements
- Suspension of Business Operations
- Withdrawal of Equity Capital
- Sales and Leasebacks, Factoring, Financing
- Subordinated Loans, Notes Collateralized
- FINRA Rule 4120, 4130, 4140, 4521, 9557
FINRA Rule 4530 - Disclosure and Complaint Filings (FE INT)
10642
Overview
This course provides an overview of FINRA Rule 4530 regarding the disclosure and filing requirements for customer complaints. More specifically, the course outlines five potential actions that would require a firm and/or its associated persons to submit a disclosure form to FINRA.
10642
21
30
- Rule 4530 Reporting Requirements
- Reporting Violations
- Coordination with Forms BD, U4 and U5
- Written Complaints
- Statistical and Summary Reporting
- Individual and Firm Disclosure
- 2013 Rule Revisions
FINRA Rules 3130 and 3120: Supervisory Controls (FE INT)
10424
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.
FINRA Suitability Rule 2111: An Institutional Focus (FE INT)
10995
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.
10995
31
17
- The New Rule
- Investment Strategies and Hold Recommendations
- Increased Need for Additional Customer Information
- Different Suitability Assessments
- Reasonable Basis Suitability
- Customer-Specific Suitability
- Quantitative Suitability
- Additional Requirements Under New Rule
- Know Your Customer
- Compliance Considerations
FINRAs Suitability and Know Your Customer Rules (FINRA Rules 2111 and 2090) (FE INT)
9945
Overview
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.
9945
37
19
Fixed and Variable Annuities vs. Mutual Funds (FE INT)
10320
Overview
This course is intended for retail representatives, institutional representatives, investment advisors supervisors or any financial service industry professional that works with clients that purchase the aforementioned products. This course compares and contrasts fixed annuities, variable annuities and mutual funds. It describes each type of product and reasons why people buy them. The course also offers an in-depth analysis of variable annuities and mutual funds, including advantages of each and a comparison of performance.
10320
63
40
- Long-Term Investment - Guaranteed Rate of Return - Another Goal is to Enjoy Tax-Deferral - Investment Safety - Liquidity & Tax Deferral - Probate Efficiency - Funds Invested in Sub-Accounts - Market Performance & Overview of Buyer - Advantages to Each Product - Conclusions to be Drawn
Fixed Income Transaction Reporting (FE INT)
12703
Overview
The following course provides an overview of trade reporting systems operated by both the Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB), under the rules and supervision of the SEC. It covers the basic rules and requirements of each system. The course also covers the requirements of both FINRA and MSRB for reporting transactions to customers, via trade confirmations. The course is suitable for registered representatives, their supervisors, compliance members and other staff who seek to gain a better understanding of the regulatory requirements related to transactions of fixed-income securities. The course may also be useful for traders and individuals who are responsible for building trading and reporting systems. In addition, any individuals who are directly related to day to day trading operations, reporting or oversight should be given additional in-depth training on TRACE and EMMA functionality and regulatory requirements.
12703
40
60
Fixed Income: Rising Interest Rates (FE INT)
11423
Intermediate
This course will explore factors related to a rising rate market environment, effective ways to manage rising-rate risk factors, and investment options for fixed income investors during rising rate market conditions.
11423
26
20
- The role of the Federal Reserve
- The rising rate environment and bond fundamentals
- Risk management
- Use of diversification and duration management to mitigate risk
-Managed strategies vs. individual bonds
Fixed Rate Primary Market Offerings (FE INT)
11582
Overview
This introductory level course provides intricate background to the roles and responsibilities of market participants in fixed rate primary market offerings. The course begins with an overview of the defining characteristics of primary and secondary market transactions. After that, the bond offering process is discussed, highlighting important participants, including: municipal advisors, bond counsel, underwriters, auditors, trustees and much more.
11582
35
40
- Primary and Secondary Market Transactions
- Bond Characteristics
- Issuer Risk and Default
- Interest Rates
- Borrowers in the Primary Market
- Negotiated Transactions
- Market Participants: Roles and Responsibilities
Floating-Rate Funds (FE INT)
11570
Intermediate
Floating-rate loans and investment-grade bonds carry different risks, and when used in combination, offer an opportunity for an attractive return stream that can potentially benefit investors during multiple market cycles. This course provides course-takers with an overview of floating-rate loans, funds and ETFs, and highlights certain risks and rewards for investors.
11570
30
15
- Overview of Floating-Rate Funds
- Floating-Rate Fund Features
- Typical Floating-Rate Fund Investors
Foreign Corrupt Practices Act (FE INT)
9878
Overview
This course is intended for sales representatives, their supervisors, compliance personnel and sales support staff that work with international securities or the trading of international securities. Congress enacted the Foreign Corrupt Practices Act (FCPA) to bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the American business system. This course will review the background that led to the introduction of the FCPA.
9878
36
25
- Foreign Corrupt Practices Act (FCPA) - Anti-Bribery Provisions - Definition of 'Grease' - Enforcement by the Department of Justice - Penalties / Fines and Other Government Action - The U.S. Anti-Bribery Position - Payments by Intermediaries - Enforcement and Provisions - Third Party Payments & Affirmative Defenses - Books, Records and Internal Control Provisions
Forex Currency Trading (FE INT)
12405
Advanced
This course is intended for registered representatives, supervisors, market makers, traders, financial professionals and anyone interested in Forex Trading. The FX market is the world's largest, most liquid market, with an estimated $4 trillion in daily turnover. As such, it is primarily traded through banks, brokers-dealers, financial institutions and private individuals. This course provides representatives with a history of the market, different ways to trade forex, a description of varying market order types, and a list of the main currency players.
12405
33
20
- Forex History and Background Information
- Different Ways to Trade Forex
- Why Foreign Currency Trading?
- Foreign Currency Terminology
- The Different Market Order Types
- Leverage, Rollovers and Accounts
- The Main Currency Players & Industry Analysis
Forms of Business Ownership and Legal Organization (FE INT)
12275
Overview
This course provides an overview of the most common forms of business ownership and legal organization, examining their comparative structures, taxation issues, liability considerations, and more.
12275
54
60
- Sole Proprietorships
- Partnerships: General Partnerships, Limited Partnerships/Limited Liability Partnerships
- Corporations: Subchapter C Corporations, Subchapter S Corporations
- Professional Corporations
- Limited Liability Companies
- Taxation of profits/losses, and at formation and liquidation
- Liability Protection
- Transferability of ownership interest
- Continuity of legal entity's life
- Advantages/Disadvantages
Futures and Managed Funds (FE)
1987
Advanced
This course is intended for registered representatives, supervisors, market makers, traders, financial professionals and anyone working with, or interested in the sale of, futures and managed funds. The term managed futures refers to a 30-year-old market made up of professional money managers that are also known as commodity trading advisors ("CTAs") that manage client assets using global futures markets as an investment medium. Unlike a stock, which represents equity in a company and can be held for a long time (if not indefinitely), futures contracts have finite lives. They are primarily used for hedging commodity price-fluctuation risks or for taking advantage of price movements rather than for the buying or selling of the actual cash commodity. Upon completion of this course, representatives will have a better understanding of general market knowledge, futures and forward contracts, hedging, and the Know Your Customer Rule.
1987
46
25
- General Market Knowledge - General & CPO/CTA Regulations - Futures and Forward Contracts - CPO/CTA Regulations - Prohibited Activities - Reports to Customers by a CTA - Exemptions from Registration as a CTA - Accepting Funds from a Customer by a CTA - Reports to Customers by a CPO - Exemptions from Registration as a CPO - Records to be Maintained by a CPO - Limited Partnerships and Commodity Pools - Accepting Funds from Customers by a CPO - Know Your Customer Rule (NFA Rule 2-30)
Futures Markets (FE INT)
11721
Advanced
This course is intended for registered representatives, supervisors, market makers, traders, financial professionals and anyone working with, or interested in learning more about, the futures markets. Representatives who successfully complete this course will gain a better understanding of futures contracts and how these instruments are used for pricing and risk management.
11721
41
25
- A Brief History of the Futures Contract
- Cash Commodities
- A Look Inside Future Exchanges
- Primary Use of the Futures Contract
- Market Pressures
- Why Futures Prices Change, Who Trades Them and Why?
- The Clearing House
- Clearing Association
- Market News and Analysis
- Taking a Position
- Options on Futures
- Terminology
- Safety Net
- Limit and Stop-Loss Orders
General Data Protection Regulation (GDPR) (FE INT)
10210
Intermediate
The European Union's General Data Protection Regulation took effect May 25th, 2018 and could affect certain financial representatives in the U.S. This course covers the history of the regulation, how GDPR differs from U.S. regulations, and penalties for non-compliance.
10210
24
20
- History of the Regulation
- What GDPR Covers
- Data Breach Notification
- Penalties for Non-Compliance
- Examples
- How You Can Ensure Compliance
Gifts and Gratuities: Guidance on FINRA Rule 3220 (FE INT)
10003
Overview
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.
10003
22
15
- Overview of FINRA Rule 2330 - Rule 3220 in Regards to Personal Gifts - De minimis and Promotional Items - Aggregation of Gifts & Valuation of Gifts - Gifts Incidental to Business Entertainment - Supervision, Recordkeeping, and Compliance - Training and Education
Government Sponsored Enterprises and Home Financing (FE INT)
11758
Overview
The course, "Government Sponsored Enterprises and Home Financing" provides an introductory overview of Government Sponsored Enterprises, including changes in ownership, congressional requirements and market factors that lead to crisis. Due to the current debate on the future of Fannie Mae and Freddie Mac, the course additionally focuses on the benefits of government sponsored enterprises to the housing market, their role in the 2008 economic crisis and proposals for their reform or replacement.
11758
28
30
- Creation and purpose of Government Sponsored Enterprises
- Changes of Housing GSE ownership
- Government guarantees
- Mortgage-backed securities
- Sub-prime lending
- Housing GSE scandals
- The 2007 mortgage crisis
- Fannie Mae and Freddie Mac conservatorship
- Stabilization, recovery and the future
- GSE Reform
Government-Sponsored Enterprises (GSEs) (FE INT)
11554
Intermediate
Government-Sponsored Enterprises (GSEs) are companies sponsored or supported by the government. This course covers the GSEs known as Fannie Mae, Freddie Mac and the FHLBanks, as well as mortgage-backed securities. In light of the current chaotic nature of GSEs, this course discusses some of the politics surrounding these GSEs, why they are in conservatorship and what the future looks like as their once-robust role in the U.S. economy changes.
11554
34
20
Gramm-Leach-Bliley Act (FE INT)
12213
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 Gramm-Leach-Bliley Act. The Financial Modernization Act repealed the Depression-era barriers that separated banking, insurance and securities, allowing all three to engage in a statutorily provided list of financial activities. This course examines the broad umbrella of "financial institutions" that are covered under Gramm-Leach Bliley, and discusses the financial activities they may in engage in.
12213
31
20
- GLB Act Overview
- The Financial Privacy & Safeguards Rules
- Three Principal Privacy Requirements
- Company Obligations
- Additional Provisions
- Consumer Protection
- Protect Yourself
Harassment and Discrimination in a Professional Environment (FE INT)
10425
Overview
This course provides an overview of sexual harassment and discrimination in the workplace: prohibited conduct; employee responsibilities; and the remedies available for employment discrimination.
10425
71
60
- Sexual Harassment
- Quid Pro Quo Sexual Harassment
- The Dollar Cost of Sexual Harassment
- EEOC Sexual Harassment Guidelines
- Avoiding Sexual Harassment Claims
- What is Sexual Harassment...Really?
- Workplace Do's and Don'ts for Employees
- Types of Discrimination
- Procedures to Report a Claim of Harassment or Discrimination
- #MeToo
- Repeated or Severe
Harassment and Discrimination in a Professional Environment for Supervisors (FE INT)
10971
Overview
This course provides an overview of sexual harassment and discrimination in the workplace: prohibited conduct; employee, supervisor and employer responsibilities; and the remedies available for employment discrimination.
10971
107
120
- Sexual Harassment
- Quid Pro Quo Sexual Harassment
- Hostile Environment Sexual Harassment
- The Dollar Cost of Sexual Harassment
- EEOC Sexual Harassment Guidelines
- Avoiding Sexual Harassment Claims
- Actions of the Supervisor
- Who Qualifies as a Supervisor?
- Harassment by Supervisor that Results in Employment Action
- What Constitutes Retaliation
- Sexual Harassment Case Studies
- Types of Discrimination
Hedge Fund Investing (FE INT)
11739
Overview
This course is intended for representatives, investment advisers, institutional representatives, traders and supervisors who have a well-rounded background in the issuance, distribution, and risk-analysis of conventional securities. Those taking this course should already have an intermediate understanding of the securities markets and the wide variety of securities products being offered to investors. This course discusses the history of hedge fund investing as well as the different types of hedge funds available. In addition, it discusses trading strategies employed by hedge funds, the attendant risks and suitability and disclosure requirements for making such recommendations.
11739
31
15
- Hedge Fund Definition and History - Types of Hedge Funds - Hedge Fund Strategies & Risk Arbitrage - SEC Requirements - Comparison to Private Equity Funds - Comparison to Mutual Funds - Disclosure - Hedge Fund Privacy - Know the Risk - Investor Suitability
Hedge Fund Investing: Regulatory Concerns and Issues (FE INT)
11854
Overview
This course is intended for representatives, investment advisers, institutional representatives, traders and supervisors who have a well-rounded background in the issuance, distribution and risk-analysis of conventional securities. Additionally, those taking this course should already have an intermediate understanding of the securities market and the wide variety of securities products being offered to investors. The history of hedge fund investing, Trading strategies employed by hedge funds, Attendant risks and Suitability, Disclosure requirements for making such recommendations.
11854
32
15
- Hedge Fund Definition and History
- Types of Hedge Funds
- Hedge Fund Strategies & Risk Arbitrage
- SEC Requirements
- Comparison to Private Equity Funds
- Comparison to Mutual Funds
- Disclosure
- Hedge Fund Privacy
- Know the Risk
- Investor Suitability
Heightened Supervision: Who, When, Why, and How (FE INT)
11547
Overview
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.
11547
31
15
How To Read A Prospectus (FE INT)
10215
Intermediate
This course is intended for registered representatives and supervisors that primarily work with retail clients. The prospectus is the single most complete source of information for investors in a mutual fund. By law, a fund must provide you with its prospectus. From the prospectus, you learn what you need to know about a fund, as well as a few things you probably never knew you needed to know. This course teaches new advisors the ins-and-outs of reading a prospectus.
10215
70
38
- Why Read a Prospectus? - What is a Prospectus? - How Does One Acquire a Prospectus? - How Often is a Prospectus Revised? - Plain English and Requirements - Descriptive Fund Names - Executive Summary: The Risk/Return Summary - Financial Highlights Table - Fund Ratio and Supplemental Data - Risk Factors - Shareholder Services - How Does the Fund Invest Its Assets - Importance of the Prospectus
How to Work with Millennial Investors (FE INT)
12016
Intermediate
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.
12016
63
45
- Who are the Millennials
- Where are the Millennials
- What Can be Done for Millennials
- Why work with Millennials
- When to Approach Millennials
- How to Communicate with Millennials
Hybrid Securities (FE)
89
Intermediate
Hybrids are currently a hot topic. Rapidly increasing issuance across industry and geographical sectors, major regulatory developments and the close attention of the credit rating agencies have combined to place hybrids at center stage of the global capital markets. As such, this course is intended for registered representatives and supervisors that primarily work with retail clients and are interested in the sale of hybrid securities. The course looks at the structure of hybrid securities and the advantages and disadvantages they hold for investors.
0089
30
15
- Hybrid Definition - Flexible Equity/Debt Characteristics - Financial Institution Issuance - Insurance Company Issuance - The Corporate Sector - Corporate Hybrids & Bank Regulation - Refinancing Redeemed Securities - Investors & Institutional Investment - Hedge Fund and Trading Approaches
Identifying and Mitigating Conflicts of Interest (FE INT)
10095
Overview
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.
10095
26
30
- Conflicts Associated with Business Activities
- Corporate and Individual Conflicts
- Fiduciary Obligations
- Product Suitability
- Financial and Investment Relationships
- Favorable Dealing
- Mitigating Various Risks
Identity Theft Prevention and the Financial Services Industry (FE INT)
10892
Overview
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.
10892
31
30
- A Consumer Issue for Business
- Definition of Identity Theft
- Asses Your Business Risk
- Data Collection & Best Practices
- Tips for Reducing Risk
- Disclosure & Systems Security
- Proper Data Disposal
- What to do When a Thief Strikes
- Investigation & Informing Customers of Problems
- Dealing with the Media
- Customer Trust and Loyalty
Identity Theft: It's Everyone's Business (FE INT)
10070
Overview
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.
10070
24
15
- Who pays the price?
- What is identity theft?
- Ways to Steal an Identity
- Mitigating the Risk
- Steps to Recover from Identity Theft
Information Barriers for the Institutional Firm (FE INT)
9947
Overview
This course discusses the various types of "information barriers" that firms employ in their investment banking operations. Additionally, this course discusses applicable regulatory requirements and how those obligations translate into a firm's policies and day-to-day operations.
9947
36
19
- protection of material nonpublic Information
- prevention of insider trading
- information barriers between research and investment banking functions
- communication restrictions on research personnel
Information Security: Protecting You, Your Clients and Your Firm for the Investment Adviser (FE INT)
10689
Overview
Information Security plays an important role in our lives, both at home and at work. Its primary goal is preserving the confidentiality, integrity and availability of information and information systems. This course will cover the key principles to ensure employees do everything possible to maintain the integrity of confidential information at the firm.
10689
20
10
Information Security: Protecting You, Your Clients, and Your Firm (FE INT)
10053
Overview
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.
10053
24
13
- Definition of Sensitive Information - Public Information & Restricted Information - Confidential Information & Information Security - Computer Passwords - Storage of Electronic Information - Social Engineering and Identity Theft - Rules to Follow
Insider Trading (FE INT)
10111
Overview
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.
10111
28
17
- SEC Governance - Division of Corporate Finance - Division of Market Regulation - Division of Investment Management - Division of Enforcement - Common Violations - Definition and Impact of Insider Trading - Penalties for Insider Trading - Rule 10b5-1 - Who are Insiders - Legal Insider Trading
Insider Trading - Vol. 2 (FE INT)
9826
Intermediate
This course examines the development and scope of the SEC's regulations governing insider trading. The material is an in-depth review of legal and illegal insider trading, prevention and prosecution of illegal insider trading, and perspectives on potential legalization of insider trading.
9826
28
20
- Description of insider trading
- Development of insider trading regulations
- Prevention of illegal insider trading activity
- Prosecution of insider trading cases
Insider Trading: The Illegal Side (FE INT)
9827
Intermediate
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.
9827
35
15
- Definition of Illegal and legal insider trading - The laws surrounding insider trading - Prevention of illegal insider trading activity - Prosecuting illegal insider traders - Legalization issues for insider trading
Institutional Advertising and Communications (FE INT)
10788
Intermediate
This course is intended for institutional registered representatives, supervisors and institutional sales representatives. This course reviews the various rules covering how communication with clients by institutional registered representatives and their supervisors is conducted. The course discusses the standard definitions and procedures followed within a firm to assure compliance with the regulatory rules that govern their communications.
10788
20
15
- Determine who is an Institutional Investor
- Rule 2210
- Regulations in Place Regarding Communication with the Public
- Sales Literature
- How to Correspond in Written and Electronic Media
- Retention of Records
Institutional Conflicts of Interest (FE INT)
10596
Overview
This course outlines the various conflicts associated with financial professionals' activities and how to avoid becoming involved in unethical or criminal conduct.
10596
26
20
- Securities Traders Conflicts and Research Analysts Conflicts - Investment Bankers Conflicts and Ethical Barriers - Securities Traders Conflicts - Conflicts of Interest Between Research Analysts and Investment Bankers - Regulatory Developments to Mitigate Analyst/Banker Conflicts
Institutional Ethics (FE INT)
10170
Overview
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.
10170
26
14
- Definition
- Important Concepts
- Valuing Professionalism
- Industry Ethics
- Helping the Client
- Compliance and Ethics
Institutional Ethics and Regulation (FE INT)
10135
Overview
This course is designed for institutional representatives, as well as investment advisors 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 best practices for institutional sales representatives and outlines the ethical standards required when interacting with institutional clients. This course additionally provides an overview of the most significant regulatory developments over the past few years and how they impact institutional broker-dealers.
This course is an informational course on corporate bonds for those registered representatives and supervisors who solicit customers in the sale of corporate debt securities. This course is appropriate for those in retail sales and in corporate bond underwriting.
The objective of this course is to educate individuals on the components that are utilized when calculating prices for bonds. Moreover, the course introduces representatives to pricing and quotes of corporate bonds and discusses the three yields for a bond: nominal yield, current yield and yield-to-maturity basis, often referred to as "basis".
1988
39
20
- Computation of Accrued Interest for Bonds - Calculating Accrued Interest - Mid-Monthly Interest Payments - Computation for Government Bonds - Yield Calculations - Nominal Yield & Current Yield - Yield to Maturity & Discount Bonds - Yield to Call & Bond Duration - Term to Maturity
Introduction to 529 Plans (FE INT)
11666
Intermediate
This course is intended for sales representatives, supervisors and advisors interested in gaining a better understanding of 529 College Savings Plans. Individuals taking this course should already have a basic understanding of suitability requirements and municipal bond funds. This course provides an overview of 529 Plans and their components, compliance issues associated with them, and how to determine the right plan for your client. Without a proper investment strategy, funding a child's college education is prohibitive for many Americans. 529 Plans provide investors with a means of earmarking investments specifically for educational purposes.
11666
40
35
Introduction To Blue Sky Laws (FE)
91
Overview
This course is intended for producers and supervisors that market and sell insurance products to consumers. This course will provide producers with an overview of Blue Sky Laws and their origins. It will cover both state and federal governance of Blue Sky Laws and the challenges associated with multiple jurisdictional oversights. Producers will learn about the registration requirements for securities, as well as the registration of Broker-Dealers and Agents.
0091
22
15
- Blue Sky Law Intention - Blue Sky Law Origin - Registration - State Registration - Federal Registration - National Securities Markets Improvement Act - State Requirements for Broker, Dealers and Agents
Introduction to Derivatives (FE INT)
11203
Overview
This course is intended for registered representatives, investment advisors, institutional representatives, traders and supervisors who have a well-rounded background in the issuance, distribution, and risk-analysis of conventional securities. Those taking this course should have an intermediate understanding of the securities markets and the wide variety of securities products being offered to investors. The use of derivative instruments such as stock options grows every day. These derivative instruments represent a very flexible way of enhancing the wealth of a portfolio or protecting it against undesirable events. However many investors lack the knowledge needed to effectively use derivatives. This course will cover the various types of derivatives available, the method by which they are valued, and finally various reasons as to why they are used.
11203
36
29
- Types of Derivatives
- Derivative Classes
- Options
- Swaps
- Other Types of Derivatives
- Risks Involved
- Accounting for Derivatives
- Derivative Valuation
Introduction To Equity Indexed Annuities (FE INT)
11740
Intermediate
This course is intended for registered representatives and their supervisors that work in retirement planning and have clients utilizing annuity products. Since EIAs are merely fixed annuities with a unique method of crediting interest, this course addresses the basics of fixed annuities before proceeding on to the mechanics of the equity indexed annuity. As with any other investment product, equity indexed annuities may not be for everyone. This course sheds light on ideal investors and why EIAs have gained traction over the years.
11740
37
21
Introduction to Estate Planning (FE INT)
11052
Advanced
This course is intended for registered representatives and supervisors who open retirement accounts for retail investors and advise them on issues related to retirement and estate planning. Due to the ever-changing economic status of our country, many individuals have realized the importance of planning for retirement and death. It is becoming necessary for people to seek professional advice on how to manage their finances. Many individuals are unable to effectively plan how they want their estate distributed upon their death. That is why it is very important that they seek the help of legal tax financial and insurance professionals. Through this course, representatives are presented with an effective way to help plan their clients' estates more efficiently.
11052
40
30
- Introduction and Overview - Role of the Agent - Factors Influencing Estate Planning - Consequences of Improper Estate Planning - Laws of Intestate Succession - Tax Apportionment Statute - Estate Taxation & Federal Gift Tax - Generation Skipping Transfer Tax - Probate Advantages - Gifting of Assets - Wills & Overview of Trusts - Uniform Transfer to Minors Act
Introduction to FINRA Rule 2330 for Registered Representatives (FE INT)
11044
Intermediate
This course is intended for financial service industry professionals interested in the latest developments in variable annuity sales practice regulations. More specifically, this course is designed for registered representatives, principals and sales support staff. It is also beneficial for compliance staff and compliance administrators that may need a refresher course on the rule. Although this course offers an overview of variable annuities, it also presumes a basic knowledge of deferred variable annuities. Rule 2330 imposes requirements on FINRA members who recommend the purchase of deferred variable annuities. It also requires FINRA-registered principals to review and approve variable annuity transactions. This course provides an introduction to Rule 2330 and explores the four key requirements of Rule 2330. At the completion of the course, individuals will have a better understanding of the Rule and their responsibility as a registered representatives regarding: Suitability Principal Review and Approval Supervisory Procedures Training.
11044
32
28
- Registered Rep Requirements - Principal Review Standards - Written Supervisory Procedures - Training Program Implementation - Deferred Variable Annuity Characteristics - Deferred Variable Annuity Responsibilities
Introduction to Gift and Estate Taxation (FE INT)
12420
Intermediate
This course is intended for registered representatives and supervisors who open retirement accounts for retail investors and advise them on issues related to retirement and estate planning. The objective of this course is to provide a history on the subject of gift and estate taxation. Additionally, it covers the various forms of property ownership and gives an overview of wills trusts and probate. Training includes comprehensive coverage of the federal estate and gift taxes and state death taxes.
12420
80
47
- History of Death and Taxes
- The Economic Recovery Act
- The Deficit Reduction Act
- Tax Reform Act
- Phase Out and Repeal of Federal Estate Taxes
- Generation-Skipping Taxes
- Modification of Gift Tax
- Rules for Property Received from a Decedent
- Gifting and Strategic Changes
- Estate Tax
- Tax Forms
Introduction to Investments (FE INT)
11386
Intermediate
This course is intended as an introductory course to investments for registered representatives. The course discusses bonds, dollar-cost averaging, diversification, fixed annuities, compounding and inflation, mutual funds, tax-free bonds, and variable annuities.
11386
101
60
- What is a Bond?
- What is Dollar Cost Investing?
- What is Diversification?
- What is Fixed Annuity?
- Understanding Compounding Inflation
- What is a Tax Free Bond?
- What is a Variable Annuity?
Introduction to Mutual Fund Investing (FE INT)
12764
Overview
This course is intended for registered representatives and supervisors who sell mutual funds or are training to sell mutual funds. The course describes the fundamentals of mutual funds and serves as a refresher to mutual fund basics. Mutual funds are important investment instruments that have been essential to both individual and corporate investors for well over a century. Beginning with a brief overview of basic investment principles and the evolution of mutual funds, this course addresses the fundamentals of mutual funds, how they are categorized, their roles and functions and their investment characteristics.
12764
31
15
- Mutual Fund Overview
- Mutual Fund Definition
- Advantages of Mutual Funds
- Disadvantages of Mutual Funds
- Money Market Funds
- Bond/Income Funds
- Equity Funds
- Specialty Funds
- Fees
- Expense Ratios
Introduction to Suitability and the Senior Protection Model Regulation (FE INT)
9997
Overview
This course is intended for registered representatives, sales support staff, compliance staff and compliance administrators interested in senior citizen sales practice regulations. This course highlights special issues that are common to many older investors and baby boomers approaching retirement. This course is not intended to establish a new standard of practice or to imply new rules or regulatory requirements. Rather it provides information that registered representatives may find useful for identifying working with and responding to senior investors with potential diminished - or diminishing - decisional capacity.
9997
32
15
- Review of Fixed and Variable Products
- Increased Regulatory Scrutiny
- Similarities between Registered and Non-Registered Products
- Regulatory Organizations in the Annuity Business
- Model Regulation Created & What is Suitability
- Agent Responsibilities & Compliance Monitoring
- Client Financial Status
- How to Obtain Customer Information
- Senior Safe Act
Introduction to the Securities Industry (FE)
3696
Overview
Introduce your representatives to the basics of the securities industry. This course begins with a look at the securities marketplace and those involved in the issuance of securities. Next, it will summarize the trade process. Additionally, it will provide information about the various governing bodies and self-regulatory organizations (SROs) and the different markets securities are traded through. There is also an introduction to trading, as well as an overview of the different types of securities instruments. The course wraps up with basic terms and concepts.
3696
98
50
- What are Securities?
- The Marketplace
- Trade Processing Summary
- Who Enforces the Rules in the Securities Industry
- Making the Deal
- Other Markets
- Markets
- People in the Trade Process
- Securities Processing
- Types of Securities Instruments
- Glossary of Indices
- Finance & Investment Terminology
Investing in Emerging Markets (FE INT)
12386
Intermediate
Emerging markets continue to attract the attention of investors all over the world. With that, they are undeniably becoming an increasingly significant part of the global economy and financial markets at large. This course defines emerging markets, risks associated with emerging markets and different asset classes. This course helps individuals understand the opportunities available to their clients so that they can create a well-diversified emerging markets portfolio.
12386
31
15
- Emerging Markets Defined
- Index
- Risks Associated with Emerging Markets
- Diversification is Key
- Why Emerging Markets Now
- Frontier Markets
- Asset Class: Equities
- Asset Class: Debt
Investment Advice for a Fee in Retirement Plans (FE INT)
9862
Overview
This course will primarily focus on the considerations related to participant-level investment advice provided by a financial professional but will also discuss the benefits a retirement plan advisor can bring to plans as well as the fees and expenses associated with various advised investment options.
9862
34
20
- Participant education
- Independent investment advisors
- Selecting an appropriate advisor
- Evaluating retirement plan investment advice
- Sponsor concerns about offering advice
- Advisory Fees and disclosure requirements
- Recommending rollovers
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.
9972
26
15
- Fiduciary standard
- Conflicts of Interest
- Disclosure requirements
- Inadequate disclosures
- Fraudulent acts and omissions
- Fiduciary liability and prosecution
Investment Advisor Code of Ethics (FE INT)
10686
Intermediate
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.
10686
38
28
- Rule 204 - Requirement for Written Code of Ethics - Compliance/Supervisory Manual - Standards of Conduct - Reporting - Violations - Enforcement and Penalties - Implementation and Education - Access Persons - Personal Trading - Recordkeeping
Investment Advisors: Communication Compliance - SEC (FE INT)
10559
Intermediate
This course provides advisors with extensive information about how to properly advertise to the public while assuring compliance with the SEC's communication rules. Additionally, the course addresses the growing use of social media among the financial services industry and the risks and obligations that are tied to this type of communication.
10559
31
25
- Electronic Communications with the Public
- Correspondence
- Advertising
- Social Media
- SEC Views
Investment Analysis (FE INT)
11591
Overview
This course is intended for registered representatives, institutional salespeople, market makers, traders, investment advisors and any financial professional interested in the business of determining the value of securities. Since so many firm employees interact with traders and salespeople on a regular basis, this course not only serves as an invaluable introduction to the business of stock valuation, it also serves as a valuable resource for industry professionals who interact with experienced traders, market makers, analysts, investment advisors and salespeople on their day-to-day workplace activities. Additionally, this course outlines a variety of charting patterns used by technical analysts.
11591
24
15
- Fundamental and Technical Analysis
- Advance/Decline Ratio
- Volume
- Basic Charting Patterns
- Fundamental Analysis
- Investment Theory
Investment Banking for Equity Professionals (FE INT)
10956
Overview
This course provides an overview of some of the key terminology, processes, regulations, and concepts involved in investment banking, with a particular emphasis on equity offerings. The course begins with basics of underwriting, one of the prominent functions in investment banking. Then the course covers registration of securities with the Securities and Exchange Commission, which is required by federal law except for available exemptions. The next section addresses aspects of investment banking in action, including more detail about the process of bringing an equity offering to market. The final section provides insight into many of the most important regulations that govern investment banking in the United States, while continuing the discussion of investment banking in practice.
10956
44
28
IPO Allocations (FE INT)
11790
Overview
This course provides an overview of some of the key issues relating to pricing and allocations of equity shares issued in initial public offerings. The course begins with an overview of the IPO process, including the typical underwriter-managed approach to allocating shares. The course then covers prohibited activities in IPO allocations, which have become a hot topic in recent years. Lastly, the course discusses some important changes in securities regulation during the last decade and ends with a review of background concepts in securities law and securities industry practices.
11790
35
21
- IPO Overview
- IPO Allocation
- Securities Act of 1933
- Underwriter Considerations
- Aftermarket Indications of Interest
- A Changed Marketplace
- IPO Allocations and Conflicts
- New IPO Rules
- Alternative Methods for Distributing IPOs
- Open IPOs
- IPOs and Analyst Conflict
- IPO Allocations, A Hot Topic
- Free-Riding and Withholding
- Restricted Buyers
- Laddering
- Kickbacks
- Regulation M
IRA Basics (FE INT)
11475
Overview
This course is intended for registered representatives and supervisors who open retirement accounts for retail investors and advise them on issues related to retirement and estate planning. This course introduces traditional individual retirement accounts (IRAs) and other types of IRAs created by The Taxpayer Relief Act of 1997 (TRA 97) and explains the impact of Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) on the different types of IRAs. Topics include eligibility tax benefits and penalties and benefits of tax deferral. An IRA is a retirement investing tool that can be either an "individual retirement account" or an "individual retirement annuity." There are several types of IRAs: Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. This course provides details on each IRA.
11475
32
16
- Laws Defining IRAs
- Contribution Limits
- Roth IRA
- Traditional IRA
- Restrictions on Traditional IRAs
- IRA Withdrawals
- Penalties for Early Withdrawal
- Roth Contribution Limits
- Roth Restrictions
- Simple IRA
- Advantages and Disadvantages of Simple IRAs
Life Settlements (FE INT)
12542
Overview
This course is intended for representatives and supervisors that sell life insurance/life settlement policies and want to increase their knowledge about insurance, taxes, and investment risks. With the advent of the secondary market, today's life insurance owners have a number of options for the disposition of their life insurance policies when their needs change. This course explores the settlements that comprise the secondary market for life insurance policies. It examines the markets, prospects, process taxation, regulation and the market conduct issues associated with these arrangements. The course also discusses stranger-originated life insurance (STOLI) transactions and the steps the industry is taking to curb abuses in this market.
12542
26
15
- Life Settlement Definition
- Size of the Market
- Reasons for a Life Settlement
- Steps in Obtaining a Life Settlement
- Taxation
- Case Studies
- Providers
Making Suitable Recommendations to Customers (FE INT)
10605
Overview
This course is intended for non-institutional registered representatives, investment advisors representatives and their supervisors. This course provides principles and guidelines for determining the suitability of investment products and making appropriate recommendations for prospects and clients. Before making recommendations to a customer, a representative must gather information about the customer, such as his or her financial profile, non-financial investment considerations and the customer's risk tolerance and investment experience. This course will cover topics discussing the financial profile of the investor, non-financial considerations, risk tolerance and investment experience, investment objectives, long-term versus short term risk, portfolio analysis, asset allocation principles for portfolios, types of investment risk, and market risk: systemic and non-systemic.
10605
48
25
- Financial Profile of the Investor - Non-Financial Considerations - Risk Tolerance and Investment Experience - Investment Objectives - Long-term vs. Short-Term Risk - Portfolio Analysis - Asset Allocation Principles for Portfolios - Types of Investment Risk - Market Risk: Systemic and Non-Systemic
Managed Futures (FE)
96
Intermediate
This course is intended for representatives, investment advisors, institutional representatives, traders and supervisors who have a well-rounded background in alternative investments. Those taking this course should already have an intermediate understanding of the securities markets and the wide variety of securities products being offered to investors. This course reviews the regulation of these instruments by the Commodity Futures Trading Commission (CFTC), as well as the mechanics of financial futures contracts, their use as hedging devices, and the role they play in price discovery. Additionally, trading strategies are discussed and the role of clearinghouses in the futures industry is described.
0096
34
20
- Managed Futures as a Distinct Asset Class - Benefits of Investing in Managed Futures - Trading Profits, Liquidity and Risk Transfer - Diversification & Markets Traded - Trading Style & Time Horizon - Reduced Portfolio Risk & Sharpe Ratio
Managing Electronic Communications (FE INT)
11099
Overview
This course is intended for retail representatives, institutional representatives, investment advisors, supervisors or any financial service industry professional interested in learning how industry rules apply to the use and supervision of managing electronic communications with the public. This course covers the purpose of an email policy and identifies the issues faced by organizations using email. It also discusses creating and deploying an effective corporate email policy. Finally, the course discusses the legislations surrounding email monitoring, with a special emphasis on electronic media.
11099
41
31
- What is an Email Policy
- Why Companies Need an Email Policy
- Elements of an Effective Email Policy
- Publishing the Email Policy
- Enforcement
- Communication and Education
- Email Monitoring
- Legal Liability
- Confidentiality Breaches
- Communication Protocols
- Key Objectives of an Effective Policy
- Email Management Solutions
- Legislation
Margin Trading (FE INT)
10651
Overview
This course is intended for registered representatives, investment advisors, institutional representatives, traders and supervisors who are interested in learning more about margin trading. The course will review and reinforce some of the basic rules and concepts concerning the use of margin and why investors use margin. Representatives will also learn about minimum, initial and maintenance margin, as well as the different types of customer accounts used in margin trading and concepts concerning the use of margin and why investors use margin. The student will understand minimum, initial, and maintenance margin. Also, the student will learn the different types of customer accounts used in margin trading.
10651
29
20
- Definition of Margin Account - Introduction to Margin Trading - Minimum Margin & Buying Power - Margin Call - Margin Trading Advantages & Risks
Mark-ups on Fixed Income Securities (FE INT)
9861
Intermediate
This course was developed to meet FINRA and MSRB continuing education requirements. It specifically addresses MSRB Rules G-15 and G-30 and FINRA Rule 2232 regarding the disclosure of mark-ups to retail investors of fixed-income securities. This course covers the rule amendments effective May 14, 2018 - not the prior versions of the rules, as students should already have an understanding of these rules. As such, for firms to which these rules apply, the rules should have been implemented by firms no later than May 14, 2018.
9861
51
30
- Understand the difference between the MSRB and FINRA
- Recognize changes to FINRA Rule 2232 (Customer Confirmations)
- Recognize changes to MSRB Rule G-15 (Confirmation, Clearance, Settlement & Other Uniform Practice Requirements with Respect to Transactions with Customers)
- Recognize changes to MSRB Rule G-30 (Prices & Commissions)
- Understand the connection between Rules G-15 and G-30
- Implement the new disclosure as required by the MSRB and FINRA regarding retail investors of fixed-income securities and the inclusion of mark-ups on their trade confirmations
Market Linked CDs (FE INT)
10753
Overview
This course is intended for representatives, investment advisors, institutional representatives, traders and supervisors who have a well-rounded background in the issuance, distribution and risk analysis of conventional securities. Those taking this course should have an intermediate understanding of the securities markets and the wide variety of securities products that are offered for sale to investors. The objective of this course is to provide financial professionals with an understanding of the purpose and characteristics of structured products. To achieve this, the course reviews the investment nature of structured products discusses related financial risks and describes FINRA's regulatory role of protecting investors.
10753
30
20
Market Making (FE INT)
11111
Advanced
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.
This course is intended for registered representatives, investment advisors, institutional representatives, traders and supervisors who have a well-rounded background in investments. Those taking this course should already have a basic understanding of the securities markets. Market risk is the quantifiable likelihood that fluctuations in market prices will adversely affect the values of investments or assets held by an individual or entity. Though some analysts argue that it is possible for market fluctuations to positively affect the values of such holdings, the general understanding of risk emphasizes a negative change. This course introduces the main aspects of market risk and looks at how the factors affecting it can be managed. Also discussed are events that have impacted market risk historically.
11114
41
27
- Introduction to Market Risk
- Legislation and Compliance
- Interest Rate, Re-Pricing & Option Risk
- Exchange Rates and Currency Risk
- Equity Price Risk
- Market Risk Management
- Hedging and Derivatives
- Futures/Swaps/Gap Analysis
- Nominal Exposures and Sensitivity Analysis
- Value at Risk (VaR)
- Modeling, Simulations and Stress Testing
Markets in Financial Instruments Directives: MiFID and MiFID II (FE INT)
9757
Intermediate
This course will review the original Markets in Financial Instruments Directive 2004/39/EC, known as "MiFID" before focusing on the revised Markets in Financial Instruments Directive (MiFID II), which replaced MiFID and the Markets in Financial Instrument Regulation (MiFIR).
9757
20
20
- Legislative Authority for MiFID I and MiFID II
- Difficulties with MiFID I
- ESMA's Role in MiFID II
- Goals and Themes of MiFID II
- Broader Scope of MiFID II
- Impact of MiFID II Outside of the EU
- Expanded Rules and Requirements
Markups on Debt Securities - Riskless Principal (FE INT)
10893
Intermediate
This course outlines the markups dealers charge on securities sold from their inventories, including FINRA guidelines and information on bond trading
10893
23
15
- What are markups
- Why they exist
- FINRA markup Interpretive Material, guidelines, and transparency
- Markups on Fixed Income compared to Equities, Mutual Funds, etc.
- Bond trading: How bonds are purchased, how prices are determined, how markups are determined / limits, bond sales
Master Limited Partnerships (MLPs) (FE INT)
12187
Intermediate
Master Limited Partnerships (MLPs) create a method for companies involved in the fossil fuel energy infrastructure of the United States to successfully and more easily raise capital to develop facilities geared towards enhancing and increasing the production, storage and distribution network for oil and gas throughout the country and globally. This course provides representatives with a broad overview of MLPs, highlighting its two-tier structure, as well as the risks and benefits associated with investing in MPLs. Additionally, this course discusses the unique tax benefits of limited partnerships.
12187
23
16
- What are MLPs
- History of MLPS
- MLP Structure
- Types of MLPS
- MLP Taxation
- MLP Benefits and Risks
- Suitability Considerations
Meeting the Federal Trade Commissions Safeguards Rule (FE)
32
Overview
This course is intended for retail representatives, institutional representatives, investment advisors, supervisors or any financial service industry professional interested in learning how industry rules apply to the use and supervision of managing communications with the public.
The objective of this course is to educate representatives about the Safeguards Rule to help them understand their obligation to the security and confidentiality of customer information, help them protect against any anticipated threats or hazards to the security and integrity of information and protect against unauthorized access to or use of customer information that could result in substantial harm or inconvenience to a customer.
0032
31
20
- Safeguards Rule & Training - Information Systems - Detecting and Managing System Failures - Destruction of Confidential Materials
Mergers & Acquisitions for Investment Bankers (FE INT)
10536
Overview
This course was developed for those with a basic knowledge of mergers and acquisitions (i.e., key terms and definitions, incentives for buying and selling). This course takes the next step by closely defining the roles of the Investment Banker throughout the M&A process. This course does not contain any legal or financial advice.
Mergers & Acquisitions: Market Update and Compliance Due Diligence for M&A Professionals (FE INT)
11952
Overview
This course has been designed for individuals involved in the M&A process, compliance officers, and other persons interested in the role of compliance due diligence. The course begins with a brief discussion of the mergers and acquisitions industry as it heads in to 2020, with a focus on Corporate M&A Strategy, Private Equity, and the factors that contribute to the success of a deal. The second section looks at compliance due diligence, a sometimes overlooked, but critical, step both pre- and post acquisition. The focus here is on compliance due diligence considerations, the evolution of the Foreign Corrupt Practices Act, and additional developments in U.S. and overseas regulation and enforcement.
11952
39
30
Mergers & Acquisitions: Roles and Requirements (FE INT)
11014
Intermediate
This course was developed for those with a basic knowledge of mergers and acquisitions (i.e., key terms and definitions, incentives for buying and selling). This course takes the next step by closely defining the roles of each party and the documents for which they are responsible. This course does not contain any legal or financial advice.
11014
60
60
- Introduction to the main players involved
- Core documents relied on throughout the transaction
Mergers and Acquisitions (FE INT)
11060
Intermediate
This course is designed to give registered representatives and supervisors an understanding of mergers and acquisitions (M&A) including why a company would want to merge, buy out another, or be acquired; the typical steps involved in the M&A process; the due diligence that the parties to a merger or acquisition should perform on one another; and a discussion of corporate inversions: a type of M&A deal that has received a lot of negative press and Congressional attention. The course uses real-world examples to illustrate different concepts, such as horizontal and vertical integration.
11060
30
30
- Introduction and Course Objectives
- Key Terminology
- Motivations for Mergers and Acquisitions: Buyers and Sellers
- Overview of the M&A Process
- Corporate Inversions: The Controversial Side of M&A
Microcap Securities Fraud (FE INT)
11800
Intermediate
This course was developed to address the ongoing concern of microcap securities fraud. Microcap securities are already subject to volatility and risk. Fraud in the microcap space causes even more risk to investors. Microcap securities are treated differently than small, mid, and large-cap securities, can trade off-exchange on the OTC marketplace with less regulatory oversight and less stringent requirements and are quickly accessible to investors. This course addresses the who, what, where, why, when and even how fraud has cast its shadow over microcap securities investing.
11800
45
50
- Microcap Securities Review
- OTC Markets
- Fraud Schemes
- Red Flags of Fraud
- Rules and Regulations often Cited in Fraud Cases
- Enforcement by the FBI, SEC, and FINRA
- Whistleblower Programs
Money Markets and CDs (FE INT)
12017
Intermediate
This course is intended for registered representatives and their supervisors that primarily work with retail clients. The course is intended to familiarize representatives on the terminology commonly used with these securities, as a means to better prepare them to explain these investments to clients. Money market instruments provide a vehicle by which institutions may invest funds on a short-term basis. There are a number of securities and banking arrangements that serve these needs. This course will focus on three of those instruments - commercial paper, certificates of deposit and bankers' acceptances.
12017
37
27
- Commercial Paper
- Characteristics of Commercial Paper
- Certificates of Deposit
- The Institutional Market
- Bankers' Acceptances
Monitoring and Supervision of Personal Securities Transactions (FE INT)
10980
Overview
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.
10980
33
20
- Specific FINRA regulations regarding personal securities transactions - What accounts and securities are subject to disclosure - Procedures for reviewing employee trading
MSRB Advertising Rules (FE INT)
11539
Overview
This course covers the amendments to MSRB Rule G-21 on Advertising and the new MSRB Rule G-40 Advertising for Municipal Advisors. By the end of the course, you should have an understanding of what qualifies as advertising, especially social media and electronic public forum usage, what types of entities are subject to the rules, and where the various regulators may overlap in advertising requirements.
11539
41
60
- What is the MSRB?
- MSRB Regulated Entities and Persons
- Advertising Rule G-21
- New MSRB Rule G-40
- Frequently Asked Questions
MSRB G-43: Governing the Activities of Broker's Brokers (FE INT)
13135
Overview
This course is a study of Municipal Securities Rulemaking Board (MSRB) Rule G-43, Best Practices for Broker's Brokers. The rule is one that dictates expectations of duties and prohibited activities when dealers act as brokers for other dealers; or inter-dealer transactions in municipal securities markets. By the end of this course, you will be able to identify the role of a broker's broker in municipal market participation as well as the duties, responsibilities, and prohibitions on conduct of broker's brokers as well as understand the role of Automated Trading Systems under Rule G-43.
13135
34
30
MSRB Rule G-3 (FE)
6855
Overview
This course begins with a brief overview of the two new classifications created when the MSRB revised Rule G-3 to meet the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. From there, the course covers basic knowledge of the internal workings, qualifications, and required continuing education of the municipal advisory system.
6855
33
50
- Professional Qualification Requirements
- Changes to Limited Representative Qualifications and FINOP Requirements
- New Classification created by Dodd-Frank
- Training and Qualification for MAS
- Qualification Requirements: Continuing Education
MSRB Rule G-42: The Fiduciary Duty Rule (FE)
9809
Overview
MSRB Rule G-42 sets forth municipal advisors' required standards of conduct and duties when engaging in municipal advisory activities, other than municipal advisory solicitation activities. This course provides a brief overview of the duties and obligations under G-42, disclosure requirements for conflicts of interest and prohibited municipal advisor activities.
9809
23
20
MSRB Rules and Risks (FE INT)
10058
Overview
This introductory course provides registered representatives with a better understanding of MSRB rules and risks as they relate to the municipal securities market. Specifically, this course outlines the MSRB's recent compliance advisory and offers background to suitability obligations, pay-to-play restrictions, risk considerations, the revised Series 50 examination and much more.
This course addresses the recently effective requirement for municipal advisors to register with the SEC and the MSRB, including what types of firm is (and is not) considered a municipal advisor, the MSRB rules that apply to municipal advisors, and the types of policies and procedures a municipal advisor firm should implement to be ready for MSRB oversight as a regulated entity.
11230
43
30
Municipal Advisors, Municipal Underwriters, Advice and the MSRB (FE INT)
10935
Intermediate
This is not a course on the Municipal Advisor Rule, but rather, addresses elements within the Rule, now that the dust has settled. The course identifies the municipal advisor, municipal underwriter, and advice as it is applied to new issues from a municipal entity or obligated person. After designating that which differentiates the municipal advisor from the municipal underwriter, the MSRB rules are used to demonstrate that which they shared equally.
10935
56
60
- Simplifying elements of the Municipal Advisor Rule
- Identifying who is and who is not a municipal advisor
- Identifying who is and who is not a municipal underwriter
- Evaluating what is and what is not advice
- Describing how implementation of MSRB rules make municipal advisors and municipal underwriters equals
- Applying Gifts and Gratuities, Rule G-20
- Applying Political Contributions, Rule G-37
- Reviewing applicable disciplinary actions
Municipal Bond Investing and Regulation (FE INT)
10649
Overview
This course is intended for municipal securities brokers, municipal securities dealers, municipal securities sales representatives, municipal finance professionals (MFPs) and their supervisors. This course looks at the general investment features and risks associated with municipal bond investing. The course reviews the regulations and enforcement agencies that govern the municipal bond arena. Additionally, the course explores investor suitability and mandated disclosure.
10649
34
19
- Municipal Bond Overview
- Regulation
- MSRB Enforcement
- Two Common Types of Municipal Bonds
- Risk Factors
- Ratings Agencies
- Bond Insurance and Credit Ratings
- Interest Rate Risk
- Investor Suitability
Municipal Issuer Credit Analysis (FE INT)
10871
Overview
The municipal debt market is the primary means through which state and local governments can raise capital for infrastructure projects, such as the building of schools, highways, and other projects necessary for the proper functioning of a given community. In order to encourage investment in these products, income received from these bonds is federal income tax free and state and local income tax free to individuals living in the locality where the bond is issued. This course covers the credit risk of municipal issuers and the steps required to perform an adequate due diligence on the issuer of the security prior to investing in a municipal debt transaction.
10871
28
30
- Overview of the Municipal Debt Market
- Factors to Consider in Municipal Debt Credit Analysis
- Case Study in Municipal Debt Due Diligence
Mutual Fund Break Points and Share Classes (FE INT)
10047
Overview
This course is intended for registered representatives, supervisors, sales support staff, compliance staff, and compliance administrators interested in mutual fund income investing. When investing in mutual funds, investors may have the opportunity to choose among several share classes, most commonly Class A, Class B, and Class C. The differences among these share classes typically revolve around how much the investor will be charged for buying a fund. This multi-class structure offers the opportunity to select a share class that is best suited to meet an investor's investment goals. As a result, this course discusses share breakpoints and share classes, the different share classes, as well as which class division is best suited for varying investor scenarios.
10047
41
30
- Breakpoints
- Share breakpoints and share class
- Class A, B and C Shares
- No load funds
- Wrap-fee accounts
- Letter of intent
- Rights of accumulation
- Potential break point abuse
- SEC, FINRA and NYSE Joint Investigation
Mutual Fund Class Shares (FE INT)
11002
Intermediate
This course is intended for registered representatives, supervisors, sales support staff, compliance staff and compliance administrators interested in mutual fund income investing. This course covers the various characteristics associated with A B and C share classes. It also explains how an investor's profile needs to be analyzed versus fund class fee structures to ensure that suitable recommendations are made to clients.
11002
24
20
- What are Fund Class Shares - Basics of Mutual Fund Share Classes - 12b-1 Fees and Other Fees - Share Class Definitions - Class A Shares - Share Class Break Points - Rights of Accumulation - Letters of Intent (LOI) - Family and Related Account Discounts - Class B Shares - Class C or L Shares - No Load Funds - How Breakpoints Work - Suitability
Mutual Fund Compliance (FE INT)
12043
Advanced
This course provides an overview of mutual fund compliance requirements, including the rules governing retail and wholesale mutual fund transactions. Upon completing this course, attendees will have a better understanding of the regulations surrounding mutual fund compliance, as well as be able to identify and apply the code of ethics governing mutual fund transactions. Moreover, this course provides compliance officers and compliance departments with an overview of the responsibilities for creating a compliance system that provides a process to manage their firm's risks in regards to mutual funds.
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.
11306
44
30
- Review of mutual funds
- Review of class shares
- Relevant Disciplinary actions
- Fines and fees
- Breakpoints and discounts
- Applicable FINRA rules
- Supervisory requirements
- Developing a plan
Mutual Fund Share Classes and Conflicts of Interest (FE INT)
9758
Intermediate
An overview of mutual fund classes, sales charges, rights of accumulation, letters of intent, charge waivers and selection of suitable fund classes based on investor profile and account type.
9758
37
30
- Fees, Expenses, Loads and Share Classes
- Breakpoints, Rights of Accumulation and Letters of Intent
- Breakpoint Disclosure
- Share Classes
- Action Plan on Mutual Fund Sales Load Charges
- Fund Class Suitability
- Sales Charge Waivers After the Financial Crisis
- Investment Adviser Disclosure Initiative
Mutual Fund Switching: Consequences for Firms, Representatives, and Customers (FE INT)
10163
Overview
This course provides an overview of the practice of mutual fund switching from a suitability perspective, focusing on sales practices, suitability analysis and proper disclosure of risks and costs. The purpose of this course is to educate representatives as to what a mutual fund switch is, and how a switch can impact the investor and the broker-dealer. Switching may be a legitimate investment transaction with benefits to the investor. However, in some cases switching may be detrimental to the investor, and contrary to FINRA rules. This course will cover: the definition of a mutual fund switch, when switching may be appropriate and when it is not, FINRA rules governing mutual fund and investment activity, and case studies of switching gone wrong and the consequences.
10163
37
22
- Switching vs. exchanging - Breakpoint considerations - Diversification without switching - Churning and excessive trading - Applicable FINRA Rules - Case studies involving unsuitable switching
Mutual Funds 101 (FE INT)
11431
Overview
This course is intended for registered representatives, supervisors, sales support staff, compliance staff and compliance administrators interested in mutual fund income investing. In this course, representatives will learn about the basics of mutual funds. This course discusses fund volatility, the creation of a fund, features and benefits and much more.
11431
33
16
- Mutual Fund Ownership
- Mutual Fund Guarantees
- Volatility
- Open-End Fund Characteristics
- Fund Creation
- Prospectus
- Net Asset Value (NAV)
- Dividends
- Public Offering Price
- Professional Management
- Capital Gains
- Liquidity
- Redeeming Shares
Mutual Funds: Investment Objectives and Risk (FE INT)
10610
Intermediate
This course is intended for registered representatives, supervisors, sales support staff, compliance staff and compliance administrators interested in mutual fund income investing. Investors have increasingly turned to mutual funds to save for education, retirement and other financial goals. With mutual funds, investment dollars of many investors are pooled together to purchase individual securities in a portfolio. This course will cover mutual funds, focusing on the topics of investment objectives and investment risk.
10610
30
30
- Description of Mutual Funds - Mutual Fund Ownership - Investment Objectives - Index Funds - Fixed Income Funds - Money Market Funds - U.S. Government Funds - Municipal Funds - Stock Funds - Balanced and Asset Allocation Funds - Sector Funds - Hedge Funds and Managed Futures Funds - Risk and Return
Net Unrealized Appreciation (FE INT)
10840
Overview
This course examines the potential benefits and regulatory requirements that are associated with NUA tax treatments of lump-sum distributions from qualified retirement plans. Additionally, the course provides different scenarios designed to help advisers decide when it is appropriate to recommend NUAs as a tax savings option for individual clients.
10840
24
15
New York's Best Interest Amendment to Regulation 187 (FE)
11376
Overview
As of August 1, 2019, broker-dealers who sell annuities in the state of New York will need to abide by the New York State Department of Financial Services Best Interest Regulation 187. This regulation involves life insurance and annuity products and officially amends the Suitability and Best Interests in Life Insurance and Annuity Transactions. Those who sell annuities in New York State will need to be aware of the new regulation and how it impacts their handling of annuities and life insurance products.
11376
38
60
- What Transactions the Amended Regulation Will Affect
- Life Insurance Policies Affected by Amended Regulation 187
- Annuity Policies Affected by Amended Regulation 187
- Exempted Transactions from Amended Regulation 187
- Summary of the Amended Regulation
- How Amended Regulation 187 Affects Sales Transaction Recommendations
- How to Satisfy New In-force Recommendation Standards
- Obligations and Duties for Insurers Under Amended Regulation 187
- Insurers Subcontracting to Third Parties Under Amended Regulation 187
- Complying with Amended Regulation 187 - Practical Considerations for Broker-Dealers in New York
NFA Ethics (FE INT)
10944
Intermediate
This course is designed to help NFA registered firms meet their ethics training obligations under NFA Compliance Rule 2-9. Each firm should have appropriately registered management personnel approve this material for use as part of the firm's documented procedures regarding ethics training.
10944
43
30
NFA Ethics - Vol. 2 (FE INT)
10631
Intermediate
This course is designed to help NFA registered firms fulfill their ethics training obligations under NFA Compliance Rule 2-9. This course provides an awareness of the laws, regulations, rules and ethical standards that govern the commodity futures industry in the United States.
10631
38
30
- The laws, regulations, self-regulatory organization rules and regulated entities of the future industry
- Just and equitable principles of trade
- Acting in the best interest of customers
- Obtaining and assessing customer information
- Disclosure of material information to customers
- Conflicts of interest
- Supervisory systems and internal controls
Non-Traditional ETFs (FE INT)
10938
Advanced
This course is intended for registered representatives and their supervisors that primarily work with retail clients. The course will familiarize representatives on the terminology commonly used with these securities and prepare them with the tools necessary to understand and explain these investments to clients. This course will take a deeper look at Non-Traditional ETFs and define what they are, the size of the market, how they work and the different types. The course also explores suitable communications surrounding the sale of ETFs and appropriate supervisory systems.
10938
33
15
- ETF Definition - ETFs and Non-Traditional ETFs - Size of the Market - FINRAs Recent Efforts to Guide Advisors - Revised Guidance from the SEC and FINRA - Communications to the Public - Supervision
NY & NYC Combating Sexual Harassment in the Workplace (INT)
11200
Overview
Both New York City and New York State have long been committed to ensuring all individuals have an equal opportunity to enjoy a fair, safe and productive work environment. Laws and policies help ensure diversity is respected and everyone can enjoy the privileges of working in both the city and state. The purpose of this training is to set forth a common understanding about what is and what is not acceptable in the workplace.
11200
40
40
- What is Harassment?
- What is Sexual Harassment?
- Sexual Harassment in the Workplace
- The Supervisor's Responsibility
- Investigation and Corrective Action
- Additional Protections and Remedies
NY Combating Sexual Harassment in the Workplace (INT)
10136
Overview
New York State has long been committed to ensuring all individuals have an equal opportunity to enjoy a fair, safe and productive work environment. Laws and policies help ensure diversity is respected and everyone can enjoy the privileges of working in New York State. The purpose of this training is to set forth a common understanding about what is and what is not acceptable in the workplace. Please note that this course only covers training requirements for New York State.
10136
39
40
- What is Harassment?
- What is Sexual Harassment?
- Sexual Harassment in the Workplace
- The Supervisor's Responsibility
- Investigation and Corrective Action
- Additional Protections and Remedies
Online Identity Theft Scams (FE INT)
11025
Overview
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.
11025
24
20
- Impact of Technology
- Growing Problem
- Definition of Phishing
- Thieves Mimicking Legitimate Websites
- Trojan Horses
- Hidden Software
- How to Prevent and Protect Yourself from Online Identity Theft
Options Basics (FE INT)
10993
Overview
This course is intended for registered representatives, investment advisers, institutional representatives, traders and supervisors who have a well-rounded background in alternative investments. Additionally, those taking this course should have an intermediate understanding of the securities markets and the wide variety of securities products being offered to investors. This course provides representatives with a general overview of options. The course focuses on the main strategies used in options training and imparts knowledge about strategies that must be used in order to earn a maximum profit. Much emphasis is placed on call selling, call buying, and put selling and buying, as these are the main elements of options.
10993
28
20
- Introduction to Options
- Calls and Puts & Participants
- Definitions & Speculation
- Hedging & Stock Options
- How Options Work
- Intrinsic Value and Time Value
- Long-Term Options & Exotic Options
Order Execution Qualifiers (FE INT)
12042
Intermediate
This course is intended for registered representatives, investment advisors, institutional representatives, traders, and supervisors who have a well-rounded background in the issuance, distribution and risk-analysis of conventional securities. Those taking this course should have an intermediate understanding of the securities markets and the wide variety of securities products that are offered to investors. This course outlines the life of a customer order (how an order becomes a trade) and discusses order execution disclosure rules which have been implemented with the goal of focusing industry attention on best execution.
12042
26
20
- Order Execution Qualifiers
- Automated Execution Systems
- The Effects of Ex-Dividend Dates on the Secondary Market
- NYSE Listing Requirements
- Auction Procedures
- Priority, Precedence, and Parity
Outside Business Activities and Private Securities Transactions (FE INT)
9855
Overview
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.
9855
17
15
- FINRA's Rule on Outside Business Activities - Outside Business Activity Examples - Private Securities Transactions - Rule 3227, Rule 3270, Rule 3280 - Representative Considerations - Situational Example
Outside Business Activities and Private Securities Transactions - Vol. 2 (FE INT)
9886
Intermediate
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.
9886
24
20
- Scope of activities - Conflicts of interest - Preapproval - Disclosure
Outside Business Activities: A Wholesalers Responsibilities (FE INT)
9946
Overview
This course provides an overview of the restrictions and disclosure requirements surrounding a wholesaler's business activities outside the scope of employment at the member firm. It focuses on the necessity for wholesalers to be familiar with, and follow, the regulations and firm policies surrounding outside business activities, regardless of compensation.
9946
18
10
- Scope of activities - Conflicts of interest - Preapproval - Disclosure
Outsourcing to Third-Party Service Providers (FE INT)
12058
Intermediate
This course is intended to familiarize registered representatives and general securities supervisors with guidance regarding their responsibilities when outsourcing compliance activities to third-party service providers. Additionally, the course defines activities and functions prohibited from being outsourced, as well as important features to include in all provisional contracts. Outsourcing can provide a number of substantial firm-benefits, including the ability to obtain professional counsel at a substantially lower cost than it may be to maintain an internal staff, as well as the benefit that your firm can focus on the core of its business, as opposed to secondary tasks.
12058
36
25
- Accountability and Supervisory Responsibility for Outsourced Functions
- Rule 3010, 3012, 3230
- Appropriateness of Outsourcing
- Activities and Functions
- Service Provider Contracts
- Information Technology Security
- Concentration of Outsourcing Functions
- Termination Procedures
- Regulator's and Intermediary's Access to Books and Records, including Rights of Inspection
Overview of High Yield Bonds (FE INT)
11271
Overview
This course provides an overview of high yield bonds, which have, in some circles, been much maligned, receiving the dubious moniker of "junk bonds." However, when properly understood and deployed in a portfolio, high yield bonds can provide the possibility of excellent returns with the trade-off of higher than average risk. This risk can be mitigated to some extent within the context of a well-diversified portfolio. More specifically, this course compares high yield bonds vs. investment grade bonds, discusses the benefits and risks of high yield bonds and covers ideal market investors.
11271
28
17
- High yield bonds vs. Investment grade bonds
- Credit Rating Agencies
- High yield bonds Issuers
- Benefits and Risks of High Yield Bonds
- High yield bond market
- High yield bond Investors
- Taxation of High yield bonds
Overview of Private Investment in Public Equity (PIPES) (FE INT)
12199
Intermediate
This course is intended to update registered representatives and investment advisers on their knowledge of private investments in public equities. Its purpose is to enable the representative or adviser to explain the risks, limitations and suitability aspects of private investments in public equities. In addition, this course ensures that the representative is familiar with the requirements imposed by the various SEC regulations and FINRA rules. This course will provide a history and overview of the PIPE market. Additionally, potential risks and rewards will be discussed, along with the various types of PIPES available and how a PIPE transaction takes place.
12199
28
20
- Introduction to PIPEs
- History of PIPE Market
- PIPE Benefits
- PIPE Risks
- Typical Investors in PIPEs
- Varieties of PIPEs
- PIPE Transactions
Penny Stock Investing (FE INT)
11555
Intermediate
This course is intended for registered representatives and their supervisors that primarily work with retail clients. The course will familiarize representatives on the terminology commonly used with these securities and prepare them to possess the tools necessary to understand and explain these investments to clients. This course explains the penny stock rules and a registered representative's sales practice obligations when recommending penny stocks. The course will reinforce the importance of disclosure and customer-specific suitability determinations.
11555
29
20
- Definition of Penny Stock
- Risks Associated with Penny Stock Investing
- Unsolicited vs. Solicited Transactions
- Suitability and Penny Stocks
- Due Diligence Requirements
- Customer Suitability and Penny Stocks
- SEC Penny Stock Sales Practice Obligations
- Penny Stock Fraud
- Red Flags
- Suspicious Activities
- Penalties
Pension Protection Act of 2006 (FE)
86
Advanced
This course is intended for registered representatives and their supervisors that work in the business of retirement planning. This course examines the principal provisions of the Pension Protection Act of 2006 and considers the various rule changes affecting defined benefit and defined contribution plans. Along with discussing the impact of the rule changes, updated information is included from 2007 and beyond.
0086
39
20
- Background & Catch Up Contributions - Limits & Tax Benefits - Department of Labor Regulation - Requirements for Fiduciary Relief - Notice Requirements - Who Can Be a Fiduciary Adviser - Automatic Enrollment Safe Harbor - Expanded EGTRRA Rollover Rules - Blackout Rules
Personal Securities Transactions for Investment Advisers (FE INT)
9852
Intermediate
The SEC adopted certain rules under the Investment Adviser Codes of Ethics 17 CFR Parts 270, 275 and 279. This course was developed to give an understanding of reportable transactions under the rules governing investment advisers.
9852
31
20
Phishing Awareness - The Human Factor of Security (FE INT)
10114
Overview
Targeted phishing attacks are the most significant threats to organizations operating in today's digital business environment. This problem has costly consequences for organizations and is often the result of unprepared individuals at affected companies. We can reduce this threat by educating employees on the types of attacks happening today and becoming aware of how to deal with each scenario safely. This course will review common phishing attacks currently seen by organizations, discuss how they work and provide strategies to protect your organization from falling victim to one of these scams.
10114
25
20
- Phishing Defined
- Goals and Impact of a Phishing Attack
- Phishing Techniques and Characteristics
- Examples of Phishing Emails
- How to Prevent Phishing Attacks
Planning for Senior Needs (FE INT)
10881
Overview
A recent report by Nielsen in collaboration with BoomAgers, shows that in five years, 50% of the U.S. population will be 50+. This unprecedented growth in the U.S. senior population will come at an expense. The purpose of senior needs planning is to identify and fund a specific and comfortable amount of net annual retirement income. This course is designed to help financial professionals understand the various risks and challenges today's retirees face and teach them how to develop a plan for their clients so they may sustain their lifestyles throughout retirement.
10881
128
50
ement Income Needs - Mending the Gap
- Projected Expense Method
- Bridging the Gap
- Reverse Mortgage
- Inflation
- Annuity Payout Options
- Life Insurance
- Legal Protection
- Probate and Non-Probate Property
Preventing and Detecting Unauthorized Trading (FE INT)
11188
Intermediate
This course is intended for registered representatives, investment advisers, institutional representatives, traders, analysts and supervisors that work in the business of trading and client account management. In this course, representatives review some of the higher risk situations that make customer complaints more likely, as well as steps they can take to manage such situations to mitigate those risks. As in all aspects of the sales process, ensuring that recommendations are suitable for the client, and that all disclosures made about products, services, risks and fees are accurate, are vital components in avoiding customer complaints. Representatives will also review best practices for handling clients who are upset but have not submitted a complaint, and what to do and what not to do if a complaint is filed.
11188
29
25
- Background
- Mandatory Vacation Policies
- Heightened Scrutiny of Red Flags
- Protection of Systems and Risk Management Information
- Supervision and Accountability
- Intercompany Transactions
- Churning
- Mark-Up/Mark-Down Rules
- FINRA Policy
- The SEC Rule
- Domination and Control
- Insider Trading
- Compliance Culture
Preventing Customer Complaints: A Guide for Registered Representatives (FE INT)
10065
Overview
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.
10065
28
21
- Knowing the Basics
- Mitigating the Risks
- Steps to Recover from Identify Theft
Preventing Personal Identity Theft (FE INT)
11571
Overview
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 personal identity theft and what they need to do to ensure that they and their clients are not a victim of this crime. Unfortunately, phishing is a growing way to steal someone's identity. And it's only one way. Identity thieves can take your personal information from your mailbox or your home. They can steal your wallet or purse or convince you to give out personal information. We all have to be on our guard. This course teaches you how.
11571
33
30
- Identity Theft Description
- Impact of Identity Theft
- Security Measures You Can Take
- Personal Information
- How Do Thieves Steal Your Identity
- Identity Safety Checklist
Preventing Sexual Harassment (FE INT)
10632
Overview
This course is intended for registered and non-registered employees and supervisors. The objective of this course is to help employees identify behavior that is considered sexual harassment. It will explain the legal issues and other consequences of sexual harassment, as well as each person's role and responsibility in creating a work environment free of harassment. The course will also state the actions to take in the case that an incident occurs.
10632
40
30
- Definition of Sexual Harassment - Sexual Harassment is a Behavior - Harassment at Work - Real Examples - The Law - Different Perspectives - Intent vs. Impact - Risky Behavior - Types of Harassment - Confidentiality
Principal Protected Notes (PPNs) (FE INT)
10768
Intermediate
This course is intended for registered representatives, investment advisors, institutional representatives, traders and supervisors who have a well-rounded background in the issuance, distribution and risk-analysis of conventional securities. Those taking this course should already have an intermediate understanding of the securities markets and the wide variety of securities products being offered to investors. Principal protected notes (PPNs) are a type of structured product and are debt obligations of an issuer. This course will provide an overview of the general investment features and associated risk factors of principal protected notes.
10768
34
15
- Introduction and Definition - PPN Advantages - PPN Disadvantages - What is the Appeal / PPN Risk - Communications with the Public - Suitability /Training
