NRS Course Catalog

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Institutional Communications

Course Code: CE_IC

Audience

Institutional Communications is a basic- to intermediate-level course designed for registered representatives specializing in institutional accounts, as well as for institutional account supervisors and their sales support staff. This course is also appropriate for other financial service professionals interested in working with institutional clients.

Course Description

This course provides FINRA's definition of an institutional investor and lists the standards of communication as set by the regulators. It discusses the different ways in which registered reps and firms communicate with institutional clients and also highlights the rules and related review and approval processes regarding these forms of communication. The final lesson delves into the supervision required for communication for institutional investors and lists the record-keeping requirements. The course concludes with a real case study that establishes the importance of adhering to regulatory communications rules and standards.

Institutional Sales Rep Responsibilities

Course Code: CE_ISRR

Audience

Institutional Sales Rep Responsibilities is a basic- to intermediate- level course designed for registered representatives specializing in institutional accounts, as well as for institutional account supervisors and their sales support staff. This course is also appropriate for other financial service professionals interested in the sales practices and responsibilities of working with institutional clients.

Course Description

Institutional investors play a major role in the financial markets. They make large trades that affect the entire marketplace, and as such, can influence the portfolios of individual investors.

This course provides you with FINRA's definition of an institutional investor, and gives you insight into suitability requirements when dealing with both retail and institutional investors. You will learn about different means of communicating with institutional investors, as well as the related review and approval processes. The final lesson explains prohibited practices with insight into avoiding regulatory actions in your daily course of business. Real life case studies are also highlighted to illustrate the concepts in the lessons.

Institutional Trading

Course Code: CE_INST_TR

Audience

This course is well suited to institutional representatives, salespeople, market makers, traders, and other financial services professionals interested in the business of large-block trading.

Institutional Trading is a broad overview of the rules, concepts, and tools that are vital for the successful institutional trader. Since many individuals in various roles in an integrated financial services firm interact with institutional traders and salespeople on a regular basis, this course is relevant for a broad spectrum of financial service professionals.

Course Description

This course is an introduction to the basics of institutional trading in the over-the-counter (OTC) and listed equity markets. It includes a discussion of institutional block trading fundamentals and the relevant SEC, FINRA and listed equity rules and regulations that apply to institutional traders.

This course is not only an invaluable introduction to block trading and the role of institutions in the financial marketplace, it can also serve as the first step for industry professionals needing to interact with experienced institutional salespeople in their day-to-day workplace. In addition, it serves as an introduction for those who wish to become a successful institutional trader or as a refresher for experienced institutional salespeople or traders.

Introduction to Equity Options Strategies

Course Code: CE_INT_EOS

Audience

Introduction to Equity Options Strategies is an introductory course in option terms and strategies. It is designed for registered representatives who would like more depth in their knowledge of options, option terms, and option strategies. It is also for principals of an office who have not used or dealt with options since licensure. The course is excellent for anyone who wants the ability to communicate with clients regarding option strategies.

Course Description

Introduction to Equity Options Strategies describes the basic terms of a call and a put and their strike prices, the premiums for the options and what is involved in determining the premium, and other terms that are necessary to discuss options. The differences between buying a call and selling a call are described, as well as buying a put and selling a put. The course expands on these terms and describes call and put spreads, and long and short straddles, as well as using puts for hedging and calls for covered writing. Several examples are given using strategies that have actually been executed.

It is important that a registered representative is able to explain some of the essential differences and investment objectives in using specific types of equity option trading strategies. Therefore, this course is designed to help registered reps learn strategic ways to use calls and puts in determining investment strategies with clients.

CFP Program ID: 200232     CFP Credit Hours: 1.00

Investment Adviser - New Accounts and Disclosure Requirements

Course Code: CE_IANADR

Audience

The course is intended for supervisors and compliance personnel responsible for supervising investment advisers (IAs) and investment adviser representatives (IARs) under the Advisers Act and others with a vested interest in the outcome of their next SEC or state regulatory examination. The course discusses account opening requirements in more detail than introductory courses and will be helpful for investment advisory representatives as well as compliance staff.

Course Description

Investment Adviser - New Accounts and Disclosure Requirements discusses the process of opening new advisory accounts including required disclosures, contract provisions, and ongoing notice delivery requirements as well as related books and records requirements. The course concludes with common compliance pitfalls regarding advisory agreements.

Investment Adviser - Valuation of Customer Holdings

Course Code: CE_IAVCH

Audience

This course is intended for supervisors and legal and compliance personnel responsible under the Investment Advisers Act of 1940 (the Act) to supervise investment advisers (IAs), investment adviser representatives (IARs), and their compliance with the Act. This course would also be appropriate for financial and operations principals as well as executive management personnel and anyone with a vested interest in the outcome of their next SEC or state regulatory examination.

Course Description

Valuation of a customer's holdings is fundamental to the confidence that investors place with the investment adviser they choose to manage their assets. Accurate pricing assures the investor that their purchase prices and sale prices are based on the real value of their portfolio.

Topics such as the history of the SEC's regulation of investment valuation, how to prepare for an SEC examination, and how to evaluate and price assets are covered in the course. Valuation 'best practices' and items to look for when developing valuation policies and procedures, as well as relevant case studies are also presented.

Investment Adviser Basics

Course Code: CE_IA_B

Audience

This basic level course provides an overview of the Investment Advisers Act of 1940 and how it applies to individuals and firms that offer investment advice to clients in exchange for a fee. Registered representatives and investment adviser representatives, as well as their sales support staff, will find this course instructive and informative.

Course Description

Investment Adviser Basics is a foundation course for investment advisers and investment adviser representatives that covers their registration basics with the SEC and state regulators. The course will help you understand the differences between investment advisers, investment adviser representatives, broker/dealers, and registered representatives, and includes comparisons of duties and obligations of each. It also gives insight to other professions that provide advice on securities.

Other fundamental topics covered in this course include fiduciary duty, recent changes to Form ADV, disclosure, compliance with custody rules, and books and records obligations. Finally, the course provides a discussion of compensation using soft dollar practices.

CFP Program ID: 237630     CFP Credit Hours: 0.50

Investment Adviser: Ethical Trading Practices

Course Code: CE_IA_ETP

Audience

This course provides an overview for the major rules of the Investment Advisers Act of 1940 — how the rules apply to individuals who offer investment advice to clients in exchange for a fee. Investment advisers and investment adviser representatives will find this course instructive and informative.

Course Description

This course focuses on ethics and its fit into the moral framework of investment adviser regulations. It explores unethical practices and ethical best practices for Investment Advisers (IAs) and Investment Adviser Representatives (IARs). Specifically, the course discusses the issue of insider trading, private securities transactions, personal trading accounts, and the ethical standards required when interacting with customers. The trading practices discussed in this course include both SEC and FINRA regulations for best execution, trading allocations, and agency cross transactions.

CFP Program ID: 234877     CFP Credit Hours: 1.00

Investment Adviser: "Pay-to-Play" Practices

Course Code: CE_IA_PTP

Audience

Investment Adviser "Pay-to-Play" Practices is intended for SEC registered investment advisers and unregistered private fund companies, their representatives and supervisors who solicit government entities, general partners, managing executive officers, political action committees controlled by the IA or a covered person, and the advisers of covered investment pools. This course would also be beneficial for state registered investment advisers who solicit government entities for advisory business.

Course Description

Investment Adviser "Pay-to-Play" Practices is a basic component of preventing violations of federal and state rules that govern the behavior of investment adviser representatives as it relates to influencing government officials. Education and awareness of the rules will reduce the risks of fines and sanctions that have been associated with investment adviser pay-to-play practices.

This course reviews real case studies of pay-to-play violations to give students an idea of how serious this issue is viewed by both state and federal regulators. We introduce Rule 206(4)-5, review who must comply, and describe what happens during a "time-out" if a triggering contribution is made. This course also describes the allowable de minimis contributions, as well as the restrictions on solicitations. Rule 206(4)-5's due diligence requirement for covered investment pools is also described. Finally, the course discusses the reporting and bookkeeping requirements regarding contributions, as well as a list of best practices, policies, and procedures to help guide your firm in reducing the risk of a "time-out."

CFP Program ID: 237632     CFP Credit Hours: 0.50

Investment Adviser: Conflicts of Interest

Course Code: CE_IA_COI

Audience

Investment Adviser Conflicts of Interest is an intermediate level course appropriate for all investment advisers and investment adviser representatives.

Course Description

Conflicts of interest are common in the financial services industry, including the relationships between investment advisers and their clients. This course looks at many of the conflicts faced by investment advisers, and the fiduciary duty they owe their clients, including the requirement to eliminate or disclose all conflicts of interest.

The course provides you with an overview of Form ADV, the different parts of the form, and some of the conflicts that it should disclose. In addition, we look at several cases where investment advisers failed to disclose the conflicts of interest they faced. You will see the consequences these advisers paid for their oversight.

CFP Program ID: 237631     CFP Credit Hours: 0.50

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