NRS Course Catalog

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Fixed Income Securities - Regulatory Issues

Course Code: CE_FISRI


Fixed Income Securities --- Regulatory Issues is intended for securities and futures industry professionals interested in the latest regulatory issues and concerns in the fixed income market. This course is also beneficial for compliance officers and compliance administrators. This is an intermediate level course and presumes the student has a basic understanding of various types of bonds and fixed income products. This course is not intended for municipal bond dealers.

Course Description

When equity markets are uncertain, many investors turn to the fixed income market. The fixed income market has changed dramatically over the past 20 years with the introduction of fixed income derivatives and more stringent regulations associated with credit rating agencies.

This course is designed to illuminate current regulatory concerns and to reinforce fixed income updates regarding suitability and disclosures. Rather than focusing on any specific fixed income product, the course covers FINRA fixed income rules from the perspective that all fixed income products share the following traits:
  • Par or face value (the amount owed by the issuer)
  • The coupon (annual rate of interest)
  • Maturity (end date)
We review the most current definition of "TRACE-eligible" securities, current trade reporting requirements and dissemination, and the results of a 10-year analysis of the impact that TRACE has had on the fixed income securities market. The application of new suitability rules on fixed income securities is discussed as well as specific risk factors that must be disclosed to fixed income investors. Finally, the course reviews basic fixed income characteristics that may be difficult for investors to understand. Therefore, we include recommendations on how to explain these characteristics to investors. This section was included in the course in response to regulatory concerns that certain aspects of fixed income products may be difficult for even representatives to understand.

CFP Program ID: 234868     CFP Credit Hours: 1.00

Fraud Prevention and Detection

Course Code: CE_FPD


Fraud Prevention and Detection is intended for registered representatives, investment advisers and their representatives, operations and support staff, wholesalers, investment banking firms, as well as the compliance and legal personnel of domestic or international broker/dealers. The course is a basic level review of U.S. securities laws as they relate to fraudulent activities and foreign corrupt practices.

Course Description

Money laundering is not the only major threat to the financial services industry. Fraud, bribery, and foreign corruption are having a major impact on the U.S. financial system as well as the financial welfare of many U.S. citizens. Fraud Prevention and Detection covers regulatory requirements, as well as methods of detecting and preventing various types of fraud, bribery, and corruption.

The course also provides an overview of what the U.S. securities laws consider fraudulent, as well as details about some of the most common types of fraud. Case studies included in this course illustrate the mistakes that firms have made regarding fraud and the consequences for their ignorance of fraud laws.

The course then delves into the specific securities laws that seek to curtail the efforts of those who intend to commit fraud. In addition to preventive measures, the student is presented with specific red flag activities that could alert firms, representatives, advisers, and support staff of suspicious activities related to fraudulent activity.

Finally, a case study and list of red flag activities of the Foreign Corrupt Practices Act are presented with key provisions to which domestic and international firms should be alerted.

General Securities Supervision

Course Code: CE_GSS


General Securities Supervision is intended for general securities principals (Series 24) and limited securities principals (Series 26) who have supervisory responsibilities over registered representatives.

This course presumes an understanding of industry basics, including the registration of branch offices and representatives, as well as an understanding of Form BR and Forms U4 and U5. Details of a principal's review of advertising and sales materials are not covered in this course; this information can be found in FIRE Solutions' companion course, Communication with the Public.

Course Description

General Securities Supervision guides you through making the decision to hire a registered rep and the process of bringing new reps on board with your firm. It also provides you with guidance in supervising the day-to-day activities of registered reps, including understanding some of the more common sales practice problems and exception reports.

The course also describes how adhering to a firm's written supervisory procedures (WSPs) can help protect both you and your reps from disciplinary action. Customer complaints are explored - how to avoid and resolve them as well as the criteria for filing complaints with FINRA. Lastly, good supervisory practices are discussed, including ways to protect you as a supervisor, prohibited practices, and special supervision.

Be aware that each broker/dealer has specific guidelines for the type of securities business in which they engage. The descriptions of situations and procedures in this course are general in nature; consult your firm's compliance manual or WSPs for clarification of your firm's policies and procedures.

CFP Program ID: 234870     CFP Credit Hours: 1.00

Gifts and Entertainment

Course Code: CE_GFT_ENT


Gifts & Entertainment is an informational course designed for compliance administrators, managers, registered representatives, investment adviser representatives, municipal securities professionals, institutional representatives, underwriters, wholesalers, and others who may be interested in the regulatory issues involved in business gifts and entertainment.

Course Description

Registered reps use gifts, entertainment, and non-cash compensation to drive business. This course describes applicable rules, exemptions, and reporting requirements to explain how to avoid conflicts with making a profit and meeting client objectives. Using case studies, the student will be able to understand how regulatory expectations apply to normal activities.

CFP Program ID: 237627     CFP Credit Hours: 0.50

Guide to Protecting Client Information

Course Code: CE_GPCI


Guide to Protecting Client Information is intended for anyone working in the financial services industry. Individuals who may benefit the most from this course include registered representatives, investment advisers, their supervisors, operations and sales support staff, and employees with access to client records and information.

Course Description

Guide to Protecting Client Information examines methods used by identity thieves and hackers to steal clients' private information. Lesson 1 gives an overview of these techniques, including pretexting, phishing, Trojan horses, using public Wi-Fi connections, among others. This information helps financial services professionals identify scams before client information is compromised.

Lesson 2 gives insight into the 2003 FACT Act and its Red Flags Rule, and goes on to explore the 1999 Gramm-Leach-Bliley Act and its Safeguard Rule. We explain how these rules impact the daily operation of a financial services firm, and what firms must do to comply with these rules. The lesson lists many measures firms may take to safeguard client data, and looks at situations in which the sharing of this data is allowed.

CFP Program ID: 200234     CFP Credit Hours: 1.00

Hedge Funds

Course Code: CE_HF


This course is intended for registered representatives, investment adviser representatives, and other investment professionals who are interested in hedge funds or funds of hedge funds.

Course Description

Hedge funds can be one of the financial industry's most stimulating, challenging, and rewarding investment products. Financial services professionals who deal in these products, however, should understand them thoroughly before recommending them to clients.

This course provides a well-rounded look into the world of hedge funds including a brief history and some of the strategies employed by hedge fund managers. Recent regulatory changes are explored, as is the rationale for these changes. We also look at the fees charged by hedge funds, and the required disclosures that must be made to clients. The final lesson delves into recent regulatory actions taken against hedge funds so that financial services professionals and their clients are prepared to avoid the same pitfalls.

CFP Program ID: 234871     CFP Credit Hours: 1.00

High Risk Brokers and Heightened Supervision

Course Code: CE_HRBHS


High-Risk Brokers and Heightened Supervision is an intermediate level course intended for securities supervisors, branch managers, and compliance personnel tasked with hiring or investigating high-risk registered representative candidates who are seeking to secure a job with a FINRA member broker/dealer.

Course Description

High-Risk Brokers and Heightened Supervision explains the requirements and best practices for hiring high-risk registered representatives. The course guides you through various considerations that should be analyzed before the decision is made to hire or not to hire a high-risk securities professional. It also reveals the techniques used by other securities supervisors to screen candidates and locate those individuals who are more likely to be successful. Other important factors are highlighted, including registration, training, and supervisory considerations and processes that should be in place when hiring and supervising high-risk brokers. The course ends with a detailed look at FINRA’s High-Risk Broker initiative.

Hiring Successful Securities Professionals

Course Code: CE_HSSP


Hiring Successful Securities Professionals is intended for securities supervisors, branch managers, and compliance personnel tasked with hiring or investigating candidates who are seeking to secure a job as associated persons of a FINRA member broker/dealer.

Course Description

Hiring Successful Securities Professionals guides you through various considerations that should be analyzed before making the decision to hire or not to hire a securities professional. This course reveals the techniques used by other securities supervisors to screen candidates and locate those individuals who are more likely to be successful.

Also discussed is how to analyze information provided by a candidate and other resources that should be utilized during a new hire investigation. This course describes how an initial interview can help ensure success and prevent failure, and offers recommendations on how to analyze a candidate's history.

Finally, the student will learn the required on-boarding filing and registration requirements for new representatives and other associated persons.

CFP Program ID: 234875     CFP Credit Hours: 1.00

Identity Theft - FACT Act

Course Code: CE_IDFACT


Identity Theft --- FACT Act is designed for those working in the financial services industry who have contact with sensitive customer information. This course is beneficial for all firms required to comply with the SEC's FACT Act Identity Theft Rules.

Course Description

Identity Theft --- FACT Act is a useful tool in fulfilling a firm's training requirements prescribed for Firm Element Continuing Education as well as the FACT Act Red Flag training required by the Securities and Exchange Commission (SEC). This course examines the primary rules that protect customer information and the role that employees play in identifying identity theft red flags. Real-life case studies help illustrate the importance of following an identity theft identification program. Finally, the course covers various methods used by hackers who steal customer identities.

CFP Program ID: 234876     CFP Credit Hours: 1.00

Impact of Market Events on Variable Products

Course Code: CE_IMEVP


Impact of Market Events on Variable Products is an intermediate level course designed for registered representatives and their supervisors involved in the recommendation and sale of variable products. The course assumes that students possess a basic understanding of variable insurance product suitability requirements and exchanges. The purpose of this course is to enable the properly-appointed and insurance-licensed registered representative to explain the role of risk in market events and the effect of such market events on the performance of variable products.

Course Description

Variable products are hybrids of insurance and securities whose premiums and cash value can be allocated to the insurer's separate account by the policy owner or contract owner. Because premiums and cash value allocated to the insurer's separate account are invested in one or more variable subaccount investment portfolio(s), the products are subject to the full spectrum of market or performance risks.

The two products covered in Impact of Market Events on Variable Products are variable annuities (VA) and variable life (VL) insurance. To help familiarize you with the information your customers need to know when considering the purchase of a VA or VL insurance product, this course outlines the risk types, the effects of each risk type on each type of variable product, and applicable case studies. This course assumes that the student understands the basics of variable products and the determinations required for suitability.

This course provides:
  • Basic information concerning the types of performance risks specific to variable insurance products
  • Information concerning the effects of risk and market events on the performance of VL insurance and VAs
  • The tools you need to help customers understand variable products and answer questions

CFP Program ID: 200233     CFP Credit Hours: 1.00

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