NRS Course Catalog

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Mutual Fund Risk and Performance Concepts

Course Code: CE_MFRPC

Audience

Mutual Fund Risk and Performance Concepts is an intermediate to advanced-level course for Series 6 and Series 7 registered representatives who understand the basics of mutual funds.

Course Description

Mutual Fund Risk and Performance Concepts looks at the risks associated with investing and how they relate to mutual funds. The course also provides an overview of the sales charges and expense ratios associated with the different share classes of funds and how they affect the performance of the fund. In Lesson 3, five of the commonly accepted indicators of risk and performance that can be used when analyzing mutual funds are explored.

CFP Program ID: 237635     CFP Credit Hours: 0.50

Mutual Fund Supervision

Course Code: CE_MFSUP

Audience

Mutual Fund Supervision is an intermediate-to advanced-level course directed to Series 26, Series 24, and Series 9/10 registered principals who supervise representatives dealing in mutual funds. It is important for supervisors to understand how the fundamentals of fair dealing may be abused and how rules may be violated. The course presumes the student has a thorough understanding of mutual fund basics, including mutual fund suitability, breakpoints, share classes, and exchanges. This course is also appropriate for investment adviser supervisors as well as hedge fund managers.

Course Description

Mutual Fund Supervision explains the nuances of supervising mutual fund transactions and the various ways rules are violated. It also explains the actions you can take in response to discovering a violation or innocent oversight of the rules. This course describes the disclosures to be made when recommending a switch from one mutual fund to another and the importance of documenting the justifications for doing so. Also highlighted are the different share classes and the importance of discussing each with clients. The controversies surrounding late and frequent trading are discussed, and how these actions are detrimental to other investors. Finally, the course provides several valuable tools supervisors can use as references when reviewing and approving mutual fund transactions, including:

  • A review and approval checklist
  • A list of red-flag activities that indicate further explanation is needed from the representative
  • A mutual fund suitability characteristics chart

CFP Program ID: 237636     CFP Credit Hours: 0.50

New Products

Course Code: CE_NP

Audience

New Products is a basic level course designed for all types of registered representatives, investment advisors, institutional representatives, certified financial planners, and supervisors. It is appropriate for other financial service industry professionals interested in developing new products and regulatory issues related to selling non-conventional investments.

Course Description

In an ever-changing economic environment, representatives continue to seek new ways of providing higher returns and lower risks. Many times that search leads to new products or non-conventional investments. This course outlines the regulatory expectations for approving, selling, and supervising these products; it also describes how to determine what a "new product" is, and provides specific definitions to many popular non-conventional investments. Finally, students learn the suitability factors specific to non-conventional investments.

With this knowledge, you can describe the review and approval process and list various questions that need answers during the due diligence phase.

CFP Program ID: 234909     CFP Credit Hours: 1.00

OATS: Nasdaq Trade Reporting

Course Code: CE_OATSNTR

Audience

Individuals who work at brokerage firms and who deal with any part of the equity order-transaction process will find this course informative. Individuals who take this course should have some background on the equity transaction process and may want to take the Trade Reporting - Listed Securities course to gain a further understanding of equity-order transactions.

Course Description

This course provides an overview of transaction reporting for auditing purposes. After completing this course, you will be able to describe Order Audit Trail System (OATS) reporting requirements and the rules associated with the OATS system for executing transactions in Nasdaq securities.

CFP Program ID: 237637     CFP Credit Hours: 0.50

Opening New Accounts

Course Code: CE_ONA

Audience

Opening New Accounts is intended for retail representatives, institutional representatives, investment advisers, and other financial service industry professionals interested in learning the basic requirements for opening a new account.

Course Description

Opening New Accounts is a basic level course and covers the essentials of gathering required information, making required disclosures, delivery of required notices, and adherence to books and records requirements. This course provides the student with the ability to describe the characteristics of various types of accounts and assign the proper designations.

Additionally, the procedures for processing and validating accounts transferred into your firm are explained. The course concludes with interactive exercises to instill the practical application of the lessons learned.

Operations Supervision

Course Code: CE_OS

Audience

Operations Supervision is relevant for operations supervisors and principals involved in monitoring firm back-office activities. This course is also appropriate for both new and experienced registered representatives interested in the processing of account transfers and other back-office activities.

Course Description

This course provides an overview of regulations involving the operation of a brokerage firm and a supervisor's role in monitoring and evaluating back-office activities. The course reviews detailed aspects of clearing agreements, selling agreements, and ACATS transfers. Finally, it explores FINRA and SEC record-keeping requirements.

CFP Program ID: 237734     CFP Credit Hours: 0.50

Options - Current Regulatory Concerns

Course Code: CE_OPTIONS

Audience

Options - Current Regulatory Concerns is an intermediate to advanced level course that presumes the reader has a basic understanding of options, their terms, and functionality. This course is appropriate for representatives or advisers who recommend options or option strategies, as well as their supervisors and the operations personnel who support them.

Course Description

Options - Current Regulatory Concerns covers options related issues identified by regulators as advisable for Firm Element CE training as well as topics that will be the focus of regulatory exams. The concerns and issues of FINRA, the CBOE, and the OCC are addressed.

Since options are a complex and often misunderstood trading tool, regulators have responded with rules that cover virtually every issue concerning options. From determining suitability before an investor even starts using options to enhance his or her portfolio, to providing disclosures once the investor has signed on, to reporting and coding options and closing and exercising, there is a myriad of regulations to follow. This course discusses these regulations and also includes new positions in flex options, and new rules for cabinet trades, while at the same time calling your attention to one of the newer of options --- the Weeklys. In addition, we explain how the random method of choosing the short position option contracts is handled.

CFP Program ID: 237735     CFP Credit Hours: 0.50

Outside Business and Personal Trading Activities

Course Code: CE_OBPTA

Audience

Because all individuals associated with a FINRA member firm are required to comply with FINRA Rule 3280, Private Securities Transactions of an Associated Person, and FINRA Rule 3210, Transactions for or by Associated Persons, this course is intended for all employees of broker/dealers.

In addition, registered persons are also required to comply with FINRA Rule 3270, Outside Business Activities of Registered Persons, and will therefore, also benefit from the section of the course dealing with outside business activities.

Supervisors and compliance personnel may find this course beneficial in developing firm policies and procedures, and in ensuring all employees are in compliance with the rules.

Course Description

This course explains the requirements of three rules:

  • FINRA Rule 3270 - Outside Business Activities of Registered Persons
  • FINRA Rule 3280 - Private Securities Transactions of an Associated Person
  • FINRA Rule 3210 - Transactions for or by Associated Persons

Students enrolled in this course will take away a solid understanding of what is required when they work outside their firm, deal in securities for others outside their firm, or invest for their own accounts outside their firm. The course also provides case studies of individuals who failed to adhere to the rules and the disciplinary proceedings brought against them.

CFP Program ID: 237736     CFP Credit Hours: 0.50

Preventing Illegal Resale of Restricted & Unregistered Stocks

Course Code: CE_PIR

Audience

Preventing Illegal Resale of Restricted and Unregistered Stocks is an intermediate level course specifically designed for retail and institutional sales representatives, their supervisors, and sales support staff. It is also appropriate for other financial service industry professionals interested in the sales practices and regulatory issues related to the unregistered resale of restricted stock. The course presumes a solid understanding of SEC Rule 144, 144A, and its resale provision for restricted stocks.

Course Description

Where SEC Rule 144 and 144A covers the proper resale of restricted stock, this course illustrates a firm's obligations to detect and investigate abusive practices related to the unregistered resale of restricted stock.

This course looks at the types of activities that are considered a "red flag" for suspicious activity that should prompt an investigation. Under SEC Rule 144, firms have specific investigation obligations determining when the firm knows or should have known about suspicious activities. Finally, the adoption of adequate policies, procedures, and supervisory controls help in preventing a firm from unwittingly becoming a participant in the illegal distribution of unregistered and restricted stock into the public markets.

CFP Program ID: 237737     CFP Credit Hours: 0.50

Preventing Sexual Harassment

Course Code: CE_PSHIW

Audience

This course is intended for registered representatives and supervisors who wish to understand legal prohibitions against sexual harassment in the workplace and the limits of acceptable workplace behavior.

Course Description

Sexual harassment in the workplace is an issue every employer and every employee must address. It is also an issue that is pervasive, yet difficult to define. This course discusses the rules and cases that define sexual harassment, and includes some specific cases to illustrate each definition. Additionally, it describes the different types of sexual harassment as well as the subjective nature of sexual harassment law. The course will help supervisors identify the essential elements of a sexual harassment policy and demonstrate why a comprehensive, written, and universally understood sexual harassment policy is necessary for the workplace. Finally, the course outlines how a sound sexual harassment policy is best followed and enforced when people at all levels of a company are involved, and how it protects a both the individual employee and the employer.

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