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Deferred Variable Annuities - FINRA Rule 2330

Course Code: CE_DVA


Deferred Variable Annuities --- FINRA Rule 2330 is an intermediate level course for financial service industry professionals interested in the latest developments in variable annuity sales practice regulations, but is specifically designed for registered representatives, principals who review deferred variable annuity transactions, and sales support staff. It is also a basic overview of Rule 2330 for compliance staff and compliance administrators. This course presumes a basic knowledge of deferred variable annuities.

Course Description

Deferred variable annuities (DVAs) are complex products and may be easily misunderstood by customers. To ensure they are recommended and sold only when suitable, FINRA Rule 2330 outlines the minimum suitability and supervision requirements for their sale, addressing the following areas:

  • Suitability
  • Supervisory principal review and approval
  • Training and education
  • Written supervisory procedures

Rule 2330 requires that various determinations be made before recommending a DVA to a customer. This course details the contents of those determinations and the documentation requirements needed for principal review and approval.

Supervision is also a major component of Rule 2330 and its accompanying supplementary material. Thus, it addresses the requirements regarding:

  • The review of the various determinations
  • The timing of the review
  • The transmittal of checks and applications to insurance carriers

Finally, Rule 2330 addresses the issue of written procedures, training, and surveillance requirements.

CFP Program ID: 200236     CFP Credit Hours: 1.00

Discretionary Trading and Supervision

Course Code: CE_DTS


Discretionary Trading and Supervision is a basic level course designed for representatives who are given discretionary authority, as well as their supervisors. Others who are interested in the issues surrounding discretionary accounts will find this course informative.

Course Description

This course helps to define what it means for registered reps to have discretionary trading. Lesson 1 discusses the various types of discretionary trading along with their advantages and disadvantages. Lesson 2 takes a look at sales practices that must be followed to a 'T' in discretionary accounts. Lesson 3 offers a supervisory perspective for discretionary accounts, while emphasizing the importance of written authorization and following firms' written supervisory procedures. Case studies and scenarios illustrate how the rules are meant to protect a firm's most valuable asset - its clients.

Distribution of Third Party Research Reports

Course Code: CE_DTPRR


Distribution of Third-Party Research Reports is designed for registered representatives and their supervisors who distribute third-party or independent third-party research reports.

Course Description

Distribution of Third-Party Research Reports is designed to help representatives identify the various types of research analysts, their motives, as well as their own disclosure and supervision requirements. This course describes the business of research along with its influences and the conflicts that require disclosure.

Students are taught the basic definitions related to the types of research analysts, various types of research reports, and the bare minimum requirements for disclosure. Finally, supervisors learn the approval requirements for the distribution of third-party and independent third-party research reports.

Educational Investment, Credits, and Deductions

Course Code: CE_CSP_TC


Educational Investments, Credits, and Deductions is an intermediate level course. The individuals who would most benefit from this course are sales representatives, municipal fund securities principals, and advisers who already have a basic understanding of 529 plans.

Course Description

Tax considerations are one of the primary reasons for recommending a 529 plan or similar investment for a client looking to save money for future college expenses. Educational Investments, Credits, and Deductions discusses tax laws and strategies for reducing taxes on both the federal and state level.

Although the course begins with a brief overview of 529 plans, it covers a variety of tax considerations available with other plans and strategies.

CFP Program ID: 237625     CFP Credit Hours: 0.50

Electronic Communications

Course Code: CE_EC


Electronic Communications is directed to registered representatives and supervisors, as well as those involved in marketing financial services to the public.

Course Description

This course provides a refresher on the standards of communications and reminders of what may and may not be communicated to the public; we also touch on institutional communications, which are not to be made available to the general public. In addition, other important points to keep in mind regarding public communication are listed. An overview of the standard types of electronic communication is also provided, followed by a more in-depth look at each.

The second lesson looks at compliance issues regarding electronic communications, and provides examples of what is and what is not considered a recommendation.

Email Etiquette

Course Code: CE_EE


This course is appropriate for anyone who uses email to communicate either to colleagues internally or to clients externally. It will discuss the set of rules and conventions that make up the body of email etiquette.

Course Description

Email Etiquette describes the appropriate tone and style of text-based communications. It explains how email can be misconstrued and discusses methods used to avoid the pitfalls of email litigation or regulators' disciplinary actions. In addition, the course indicates various ways to ensure your email appropriately communicates your intended message.

Enhanced Due Diligence

Course Code: CE_EDD


Enhanced Due Diligence is an intermediate course intended for financial service professionals who routinely deal with opening new accounts, assessing risk management for customers, and monitoring the movement of funds and securities into and out of customer accounts.

Among those who would find this course informative and helpful are compliance administrators, supervisory principals, registered representatives, and operations personnel.

Persons taking this course should already have a strong understanding of the general due diligence and "know your customer" requirements associated with all accounts.

Course Description

Enhanced Due Diligence explains the concept of enhanced due diligence (EDD) above and beyond the general due diligence that should be applied to all accounts, and why it is necessary for a firm to follow its related policies and procedures. It explains how enhanced due diligence applies to your firm's daily operation and why certain accounts with high-risk profiles may require extra scrutiny.

CFP Program ID: 237626     CFP Credit Hours: 0.50

Equity Security Recommendations

Course Code: CE_ESR


Equity Security Recommendations is a beginner to intermediate level course designed for registered representatives. It is also appropriate for other financial service industry professionals interested in a refresher of regulatory concerns regarding equity recommendations.

Course Description

Equity Security Recommendations gives a comprehensive overview of the major factors reps must consider when making recommendations in equity securities and strategies. The course begins by discussing how the regulators define "recommendation," the many ways a recommendation can be delivered, and the difference between implicit and explicit recommendations. Lesson 2 delves into "Suitability" and "Know Your Customer" Rules, while Lesson 3 explores sales practices and supervising the activities associated with recommendations. The final lesson discusses two popular methods that are used to analyze equities.

CFP Program ID: 234856     CFP Credit Hours: 1.00

ERISA and The Fiduciary Standard

Course Code: CE_EFS


ERISA & the Fiduciary Standard is an intermediate course intended for retail and investment adviser representatives, as well as any financial service industry professional interested in learning about ERISA's fiduciary status and the important new regulations surrounding this topic.

Course Description

ERISA & the Fiduciary Standard explores how the rules that mandate who is a fiduciary under ERISA have been significantly changed. Through this course, students will learn what it means to be a fiduciary in the eyes of ERISA and the Department of Labor. The top responsibilities of fiduciaries are listed, as well as an overview of actions that are prohibited and which could result in disciplinary actions. Lesson 2 explains the rule changes that will greatly affect broker/dealers and their registered representatives.

The course discusses the current regulatory focus on ERISA retirement plans and IRAs and what firms and reps should do to stay in compliance with the new rules and avoid conflicts of interest which could result in personal liability.

CFP Program ID: 234862     CFP Credit Hours: 1.00

Estate Planning

Course Code: CE_ESTP


Estate Planning is an intermediate level course intended for registered representatives, supervisors, compliance staff, and compliance administrators interested in the topic of estate planning.

Course Description

Estate Planning will help representatives, their supervisors, and any financial services industry professionals learn how to better assist clients with this important task. While sometimes difficult to discuss, a well-conceived estate plan is critical to long-term financial success for families. This course outlines the necessary information to gather from clients to help educate them about their estate planning options.

Topics such as financial powers of attorney, health care powers of attorney, life insurance, health care directives, and living wills, which set forth a client's wishes regarding medical decisions, are discussed. In addition, asset distribution upon the client's death and beneficiary designations are highlighted. Finally, taxation issues and how the appropriate plans and investment vehicles can help maximize an estate's value are reviewed. Students who complete Estate Planning will be in a better position to help their clients develop, review, and execute basic estate planning.

CFP Program ID: 234864     CFP Credit Hours: 1.00

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