FIRE Course Catalog

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Supervision and Surveillance

Course Code: CE_SUPSUR

Audience

Supervision and Surveillance is intended for branch managers and supervising principals, compliance officers, and others interested in establishing and maintaining account surveillance procedures. Information in this course will help these financial professionals ensure that their member firm is in compliance with all applicable supervisory rules and regulations, and with the regulatory environment in which their firms operate.

Course Description

This course covers FINRA Rule 3110, Supervision (effective December 2014), which applies to supervision and supervisory control systems. It discusses surveillance tools that can help a firm and its supervisory employees stay on the right side of the regulators and provide the best client experience.

The course also provides an overview of responsibilities for creating a compliance system with a risk management process that protects a firm from violations, fines, and fraud. It details ways in which policies, procedures, and reports are used to effectively supervise registered representatives and to create a culture of compliance by identifying patterns and trends that pose a risk to the firm and to clients.

Supervision of Communications

Course Code: CE_SOC

Audience

Supervision of Communications is an intermediate level course designed for supervisors and compliance personnel and/or any securities principal responsible for review and approval of communications.

Course Description

The course provides an overview of FINRA Rule 2210, Communications with the Public, including the different categories of communications, the review and approval requirements of each, and the record-keeping requirements. The content standards that apply to communications with the public are discussed, as well as some best practices firms may employ. The course wraps up with some examples of recent disciplinary actions that were the result of violations of FINRA's communications rules.

Supervision of Exchange-Traded Products

Course Code: CE_SETP

Audience

Supervision of Exchange-Traded Products (ETPs) is an advanced course intended for supervisors of registered representatives and investment adviser representatives, as well as institutional investors who recommend ETPs.

Course Description

While they are relatively new investment products, exchange-traded funds (ETFs) and exchange-traded notes (ETNs) continue to gain in popularity. Supervision of Exchange-Traded Products explains why regulators have been so focused on these products, and what supervisors should be looking for when reviewing ETP transactions and the employees who recommend them. The course delves into leveraged and inverse ETPs, which are more complex and not suitable for all investors. In addition, a case study is provided for students to learn how other supervisors have failed to effectively supervise the sale of ETPs.

Supervision: Hiring Practices and Registration Requirements

Course Code: CE_SUPHPRR

Audience

Supervision - Hiring Practices and Registration Requirements is intended for managers and supervisors responsible for hiring registered representatives and associated persons, and evaluating their compliance with registration requirements.

Course Description

Supervision - Hiring Practices and Registration Requirements explains the requirements for hiring new registered representatives and other associated persons who may or may not be registered, and determining the right supervisor for the right job. The course also reviews the required forms that are used to register any type of representative or supervisor with a FINRA member broker/dealer, as well as how to properly file these forms.

Supervisory Controls

Course Code: CE_SC

Audience

Supervisory Controls is intended for supervisors, managers, chief compliance officers, compliance administrators, and those interested in establishing and maintaining supervisory controls. The information in this course will help these financial professionals ensure that their member firm is in compliance with all applicable rules and regulations and the regulatory environment in which their firm operates.

Course Description

This course covers updated FINRA rules (effective December 2014) that apply to supervision and supervisory control systems. Lesson 1 looks at Rule 3110, Supervision, while Lesson 2 discusses the supervisory structures delineated in FINRA Rules 3120 and 3130. Lesson 3 offers case studies to illustrate the often severe consequences of poor supervisory controls.

Tax Treatment of Variable Annuities

Course Code: CE_TTVA

Audience

This introductory course on variable annuity tax treatment is intended for registered persons and investment advisers who have an understanding of investment products and want to understand the basic principles of variable annuity tax treatment.

Course Description

This course is designed to give you an overview of variable annuities and their costs. Variable annuities are not designed for all investors. Before recommending a variable annuity to a customer, you must fully understand the product, the customer's situation and objectives, and how variable annuities will affect their taxes.

After completing Tax Treatment of Variable Annuities, you will be able to describe and analyze the tax ramifications of investing in variable annuities.

Taxation - Introduction to Gains, Losses, and Income

Course Code: CE_TAX_IGLI

Audience

Taxation - Introduction to Gains, Losses, and Income is intended for retail representatives, institutional representatives, investment advisers, and any financial service industry professional interested in learning the tax consequences of the investments they may recommend.

Course Description

Although customers typically do not seek tax advice from securities representatives or investment advisers, these professionals must have an adequate understanding of the tax consequences of any product that they may recommend. This is particularly true when it comes to customers in higher tax brackets.

Taxation - Introduction to Gains, Losses, and Income is a basic level course that covers taxation with respect to ordinary income, passive income, and portfolio income. The course also covers the distinctions between short and long-term gains and losses versus income. Finally, the course concludes with an interactive exercise to instill the practical application of the lessons learned in this course.

Taxation of Products and Strategies

Course Code: CE_TAXPS

Audience

Taxation of Products and Strategies is intended for retail representatives, institutional representatives, investment advisers, or any financial service industry professional interested in learning the tax considerations of various investment products and strategies that they may recommend.

Course Description

Although customers typically do not seek tax advice from securities representatives or investment advisers, these professionals must have an adequate understanding of the tax consequences of any product that they may recommend. This is particularly true when it comes to customers in higher tax brackets.

Taxation of Products and Strategies is an intermediate level course and covers taxation with respect to various products and strategies. The course presumes the reader has a basic understanding of products covered in the Series 7 General Securities exam, and should have a solid understanding of taxation basics regarding long and short-term capital gains and losses, as well as cost basis.

The course requires a minimal amount of calculations in order to demonstrate how to determine the appropriate tax consequences for particular investment products. The course demonstrates how to compare the tax yields of taxable versus nontaxable income, how to determine the tax consequences of bonds purchased at premiums or discounts, how income and distributions for investment companies are treated, and tax treatment of various forms of income, gains, and losses for different tax strategies. Finally, the course concludes with an interactive exercise to instill the practical application of the lessons learned in this course.

Tenants in Common - 1031 Exchanges

Course Code: CE_TIC1031

Audience

Tenants in Common is intended for investment bankers, registered representatives, and other licensed securities broker/dealers who are interested in direct participation programs involving real property.

Course Description

Tenants in Common is designed to assist registered individuals in achieving a better understanding of the IRS Rule1031 - Tenants in Common material.

The 1031 exchange/tenants in common (TIC) industry is a highly specialized, very technical field that offers significant risk/reward opportunities for select accredited investors. The details about the tax consequences and implications of 1031 exchanges are covered in Internal Revenue Code (IRC) Section 1031. We review both Section 1031 and discuss how the tenant in common structure may be used to effect a 1031 exchange.

Trade Reporting And Compliance Engine (TRACE)

Course Code: CE_TRACE

Audience

Trade Reporting And Compliance Engine (TRACE) is intended for the registered representative acting in an agency capacity, as well as individuals who work as dealers, such as market makers and specialists. Trade reporting is a relevant topic for any finance professional.

Course Description

The reader will gain a better grasp of the reporting requirements for TRACE-eligible securities. This course outlines the trade reporting rules implemented to provide market transparency in the fixed income market. This course also describes underwriting obligations under FINRA's TRACE reporting rules.

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