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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

Investment Adviser: Marketing and Advertising Communications

Course Code: CE_IAMAC

Audience

This intermediate to advanced course provides an overview of the marketing and advertising provisions contained within the Investment Advisers Act of 1940 and how they apply to registered investment advisers (IAs) and their representatives (IARs). IA principals, their representatives, legal and compliance staff, as well as their sales support staff, will find this course instructive and informative.

Course Description

Investment Adviser - Marketing and Advertising Communications provides an overview of the Investment Advisers Act of 1940, the Advertising Rule 206(4)-1, and how it pertains to investment advisers and investment adviser representatives. The course delves into interpretive guidance and commentary regarding testimonials, past specific recommendations, and performance disclosures.

Finally, the course discusses the risks and issues associated with complying with the advertising rule by identifying the most frequent advertising compliance issues. The course aims to assist investment advisers in considering whether its advertisements are consistent with the regulations.

Investment Advisor - Performance Advertising

Course Code: CE_IAPA

Audience

This intermediate to advanced course provides an overview of the performance advertising provisions contained within the Investment Advisers Act of 1940 and how they apply to registered investment advisers (IAs) and their representatives (IARs). IA principals, their representatives, legal and compliance staff, as well as their sales support staff, will find this course instructive and informative.

Course Description

Investment Adviser - Performance Advertising provides an overview of the Advertising Rule 206(4)-1, and how it pertains to investment advisers and investment adviser representatives. The course delves into interpretive guidance and commentary regarding the most common types of performance advertising and the standard guidelines contained in the Clover no-action letter. In addition, the use of past specific recommendations and necessary performance disclosures are highlighted.

Finally, the course discusses the risks and issues associated with complying with the advertising rule by identifying the most frequent advertising compliance issues. The course aims to assist investment advisers in considering whether its advertisements are consistent with the regulations. Several case studies are used to illustrate the importance of following SEC rules.

Investment Banking: Introduction

Course Code: CE_IBI

Audience

This course is intended to provide a basic through intermediate understanding of the underwriting process for corporate finance professionals. The individuals who would most benefit from this course, are those who are looking for a basic understanding of the terminology and aspects that are part of the underwriting process.

Course Description

The course discusses how companies raise capital through the underwriting process and the activities of an investment banker in accomplishing this process. You will understand the role of an investment banker and their interaction with other members of the underwriting syndicate. It also covers:

  • The terminology associated with the investment banking process
  • The definition of an investment banker and their role
  • Other participants in the investment banking process
  • The basic concepts and requirements of starting to bring an issue to market

This course, used in conjunction with our companion courses for Investment Banking -
Registering the Issue, and Investment Banking - The Regulations provide a full spectrum of the new issue process.

Investment Banking: Registering the Issue

Course Code: CE_IBREG

Audience

Investment Banking: Registering the Issue provides a basic to intermediate understanding of the requirements for bringing corporate securities to market. The individuals who would most benefit from this course, are those who with a basic understanding of the underwriting process and would like to review the important functions of the underwriter in registering an issue.

Course Description

Investment Banking: Registering the Issue describes the role of the underwriter and the actions they take for the issuer while registering the corporate issue.

The course covers the Federal requirements to register with the SEC, the requirements to register with the individual states where the issue is sold, and then discusses the type of issues that do not have to be registered. In addition, you learn why the underwriter has to file information with FINRA's Committee on Corporate Finance.

This course, used in conjunction with our companion courses Investment Banking: Introduction and Investment Banking: The Regulations should be studied, to provide a full spectrum of the Investment Banking process.

Investment Banking: The Regulations

Course Code: CE_IBREGUL

Audience

Investment Banking: The Regulations is intended to provide finance professionals with a basic to intermediate understanding of the regulations surrounding the underwriting process for corporate securities. Those who will benefit most from this course already have an understanding of the underwriting process and want to delve into the regulations that must be followed.

Course Description

Investment Banking: The Regulations discusses how the regulations affect the investment banker and syndicate members when bringing the issue to market, as well as the regulatory concerns involving the underwriting process.

This course provides you with an understanding of the rules that bind the issuer, underwriter, syndicate, and anyone else intending to bring corporate equity securities to market.

It is important to become a knowledgeable participant on any underwriting team. You must be able to identify what needs to be accomplished as well as what to avoid when making corporate equities available to investors. This course helps you determine when and how to submit a stabilizing bid, and identify the market-making activities that can and cannot take place during the underwriting process. It also provides you with the ability to identify a conflict of interest and respond appropriately.

Investment Programs, DPPs, & REITs

Course Code: CE_IPDPPREIT

Audience

Investment Programs, Direct Participation Programs, and Real Estate Investment Trusts is a basic level course intended for FINRA registered representatives or Investment Advisor Representatives who are involved in the sale of Direct Participation Programs, Limited Partnerships, or Real Estate Investment Trusts. This course may also be valuable to registered principals supervising the sale of these products as well as administrative and support staff.

Course Description

This course is designed to give a basic overview of the Regulatory environment for Investment Programs. Because of the shared tax treatment of the products, Investment Programs consist of both Direct Participation Programs (DPPs), and Real Estate Investment Trusts (REITs). This course covers various types of partnerships and entities that comprise a DPP, their tax treatments, and how they differ from Real Estate Investment Trusts.

Various legal documents that govern selling DPPs are described; and regulations relating ethical and practical sales practices of Investment Programs. Finally, a demonstration on how to calculate the pass-through tax benefits and adjust the cost basis because of various factors.

CFP Program ID: 234878     CFP Credit Hours: 1.00

IPO Allocations

Course Code: CE_IPO

Audience

IPO Allocations is intended to provide a basic understanding of the process of allocating shares of new corporate issues before they are traded in the aftermarket. IPO Allocations is an ideal course for retail registered representatives, investment advisers, and investment banking representatives. .

Course Description

Students should come away with a strong understanding of the issues, the regulations, and the processes that apply to IPO allocations, whether they are with an investment-banking arm of a firm and are engaged in these practices, or they are a registered representative with customers who would like to invest in IPOs.

IPO Allocations discusses the process, pitfalls, and need for regulation regarding the allocation of initial public offerings (IPOs). It explains the procedures for allocating shares, describes the provisions of FINRA Rule 5131 (New Issue Allocations and Distributions), and explores how financial services professionals can best interact with their customers and the marketplace. Finally, the course discusses improper behaviors and the allocation rules set forth in Regulation M - a Securities Exchange Act provision that affects the sale of new issues.

CFP Program ID: 234879     CFP Credit Hours: 1.00

Know Your Customer

Course Code: CE_KYC

Audience

"Know Your Customer," or KYC, is one of the basic tenants of the securities industry. As such, this course is appropriate for all registered representatives and supervisors, as well as back-office personnel who work with client accounts.

Course Description

This course delves into the different reasons why knowing your customer is important --- from helping registered reps determine what's best for each customer to preventing identify theft and helping a firm's anti-money laundering efforts --- knowing your customer is critical in protecting the interests of the investing public. This course describes the FINRA rules behind Know Your Customer and details the three required suitability analyses, and one method to determine a client's risk tolerance. Lessons 2 and 3 highlights the requirements of the USA PATRIOT Act and explains how to protect clients against identity theft. Finally, the course discusses book and records rules regarding client accounts.

CFP Program ID: 234880     CFP Credit Hours: 1.00

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