Blaze Xpress

Design Your Own Custom Training Program from FIRE Solutions

Blaze Xpress allows you to quickly sign up your small company or team for the training products offered by FIRE Solutions. You can choose any combination of:

  • Firm Element CE (including FINRA E-Learning courses)
  • Annual Compliance Meetings (ACM)
  • Annual Compliance Questionnaires (ACQ)
  • Insurance CE Subscriptions
  • Exam Preparation Courses (Series 6, 7, 9/10, 24, 63/65/66 )

Note: If you're interested in enrolling in courses for yourself only, please visit our Course Catalog for self-ordering options. If you require a more advanced custom program, or have more than 200 users, please email us at connect@firesolutions.com.

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Firm Element CE

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If you want to order more than 3 courses per student, you may find it more economical to choose one of the subscription options. The students will be able to choose any course within the selected library at any time over the course of the year, and work at their own pace.

If you want more control, you should consider the a la carte option. For example, you might have 5 students who must take 3 courses each, and another 5 students who must only take 2. In this case you would simply purchase 25 enrollments. When creating your student users, you'll be able to assign exactly the courses you want to each student, until you have exhausted the total number of enrollments purchased.

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CE Worksheet

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Firm Element CE Courses

Click a title for more information.

401 (k) Plans (CE_401K)
401(k) Plans gives students a detailed overview of one of the most popular retirement investment vehicles. The course begins with a broad history of retirement planning and ERISA, and introduces the two main types of retirement plans. Lesson 2 discusses 401(k) plans in detail, highlighting contributions, distributions, and withdrawals, as well as eligibility and vesting. Lesson 3 delves into what options are available when a plan participant leaves an employer, and covers rollovers and Roth 401(k)s. The final lesson gives an overview of the Department of Labor?s new fiduciary standard and how it will affect 401(k)s.
529 College Savings Plans (CE_529)
529 plans can be an important part of any financial plan. This course:
  • Explains 529 plans
  • Dispels common misconceptions regarding 529 plans
  • Reviews the tax advantages and disadvantage of 529 plans
  • Reviews appropriate sales practices
As sales tools, the course provides a suitability checklist for 529 plans, as well as a college savings plan comparison chart that compares the features of various savings vehicles.
Alternative Mutual Funds (CE_AMF)
Marketed as sophisticated, actively-managed hedge fund-like strategies, alternative mutual funds are growing in popularity with a market that represents over $300 billion under management as of November 2014. Regulators are concerned that representatives and their clients may not have a full understanding of how these products are affected by various market conditions, or that fund companies are not being properly vetted with a due diligence process. This course provides a well-rounded look into the world of alternative mutual funds (AMFs). The course begins with a lesson on the differences between AMFs and traditional mutual funds, and AMFs and hedge funds, as well as some of the strategies employed by alternative fund managers. Lesson 2 is an overview of the current regulatory concerns regarding alternative mutual funds. The final lesson delves into the best due diligence and sales practices that should be used when firms and reps are selling AMFs, including suitability and disclosure requirements. Tools to help reps make AMF recommendations are also provided and two case studies are presented to illustrate the importance of following regulatory obligations.
AML - A Historical Review (CE_AMLHR)
The aim of this course is to give financial services professionals a review of past trends in money laundering schemes. Lesson 1 briefly reviews anti-money laundering basics, while Lessons 2 and 3 look at some of the most recent hot topics in the reporting of suspicious activity, trendy schemes in moving money both abroad and in the U.S., and advisories from FinCEN and FINRA. The course concludes with case studies that highlight the consequences of noncompliance with anti-money laundering rules and regulations.
AML Current Issues 2017 (CE_AMLCI17)
As with all our ?current issues? courses, AML - Current Issues 2017 goes beyond the basics of anti-money laundering rules. It reveals the latest schemes used by money launderers and the activities that should serve as red flags, prompting financial services professionals to report the activity to an AML Compliance Officer and, ultimately, the regulators. In addition, it identifies the latest FATF advisories for the countries that pose the highest risk for money laundering. AML - Current Issues also reviews the current trends in AML compliance and how firms can avoid regulatory problems with an appropriately designed compliance program. In addition, the course looks at the latest FinCEN Advisory to the U.S. financial institutions on promoting a culture of AML compliance.
AML Policies and Procedures (CE_AMLPP)
This course describes anti-money laundering (AML) policies and procedures designed to detect and prevent money laundering using brokerage accounts or investments in securities and insurance products. The course also explains how these AML policies and procedures must be followed and amended as needed to reflect any new rules or regulations. The overall objective of this course is to describe the risk-management policies and procedures that help prevent money laundering or other illegal activities at financial services firms.
AML Red Flags - Retail and Operations (CE_AML_RF)
AML Red Flags --- Retail and Operations presumes that the reader has a basic understanding of the anti-money laundering requirements under the USA PATRIOT Act of 2001 (PATRIOT Act) and The Bank Secrecy Act of 1970 (BSA). The Patriot Act amended the BSA to include financial institutions other than banks, including securities firms. The course details the importance of the "know your customer" rules in the AML context. Additionally, the important sources for identifying customers who may have terrorist ties are discussed as are AML red flags that may appear during the account-opening phase. This course also focuses on red flags during the life of an account: The nature of the account, after opening, and the nature of transactions in the account. Finally, a review of reporting suspicious activity in compliance with the Patriot Act is covered.
Annuity Living Benefit Riders (CE_ALBR)
This course on Annuity Living Benefits Riders begins with a review of the basic characteristics of fixed and variable annuities and then describes the evolution in annuities and the dramatic increase in the number of guaranteed living benefit riders.

The course includes examples for each of the major living benefit riders and describes the client for which each of the riders is most suitable. It also includes a review of variable annuity and deferred variable annuity suitability guidelines according to FINRA Rule 2330.
Anti Money Laundering (CE_AML_GEN)
Anti-Money Laundering - General covers the basics of combating money laundering. It explores the global issue of money-laundering and the procedures that financial institutions and their employees must lawfully follow to detect suspicious activities.
Anti-Money Laundering for Institutional Brokers (CE_AML_IB)
Anti-Money Laundering for Institutional Brokers begins with a review of money-laundering regulations and the organizations charged with enforcement. Lesson 1 also contains a case study to help illustrate money-laundering activities. The course then outlines the various money laundering stages and the suspicious activities that can help personnel detect and prevent money laundering. The last section of the course covers AML program requirements, the application of the Bank Secrecy Act, and specific due diligence for high-risk accounts.
Asset Allocation (CE_AA)
Asset allocation is the process of determining the optimal allocations for the broad categories of assets (stocks, bonds, cash, and real estate) that suit an investor's time horizon and risk tolerance. This course teaches not only the definition of asset allocation, but also the fundamental methods for determining a sound asset allocation. These methods include formulas and distributions in addition to developing an investor profile. This is a good companion course for FIRE Solution's Investment Adviser Basics course.
Asset-Backed Securities: Non-Conventional Investments (CE_ABS_NCI)
The course reviews the structure and market for asset-backed securities and explains some of the regulatory concerns that financial professionals must understand when dealing with asset-backed securities. This course also briefly outlines the U.S. Treasury's Term Asset-Backed Securities Loan Facility (TALF) developed to help shore up the U.S. financial system in the wake of the 2008 financial crisis.
Best Execution (CE_BE)
This course explains the concept of best execution and how different factors such as rules, regulations, and the order flow process influence the execution of customer orders. The SEC and FINRA rules related to ensuring "best execution" are explored, as well as how firms and their representatives can determine what is "best." Although best execution is difficult to define, clear guidelines and behaviors apply to the best execution of customer orders. This course outlines these concepts and behaviors, and reviews SEC Regulation NMS order execution disclosure rules which have been implemented with the goal of focusing industry attention on best execution.
Bond Markets (CE_BNDMRKT)
Bond Markets provides an overview of the U.S. bond market, including what bonds are, how they are issued, and how they are traded. It describes how corporations, municipalities, and the U.S. government issue bonds and explains the general purposes for bond proceeds. The course also describes the secondary trading of bonds and factors that determine bond prices in the secondary market. Price transparency in corporate and municipal bonds is discussed as well as transaction reporting requirements.
Books and Records (CE_BR)
The books and records requirements vary for each firm, depending on the types of business they conduct and the regulators to whom they report. This course introduces you to books and records requirements that apply to most firms, but is not intended to be an exhaustive study. The senior management of your firm should ensure that the firm is in compliance with all applicable books and records requirements. We look at the most common books and records rules — SEC Rules 17a-3 and 17a-4, as well as the various FINRA rules regarding books and records. From documenting that clients have received the best possible execution of their trade, to providing evidence that a broker/dealer has maintained adequate liquid net capital, books and records are the means by which a broker/dealer shows it has complied with all applicable rules and regulations. Books and records allow for the reconstruction of events or transactions. These records indicate who has made decisions, how transactions are effected, and who has supervised the activities of the broker/dealer.
Branch Office Inspections and Supervision (CE_BOIS)
Branch Office Inspections and Supervision is designed to help compliance officers and compliance personnel identify the expectations set by FINRA for the oversight of a broker-dealer's branch supervisory structure. Regulators want to be sure that firms can govern themselves in a way that will detect and deter any rule violations. They also want to ensure that a firm's self-inspection programs are designed to test the strength of the firm's compliance policies and procedures. This course will teach compliance personnel about regulatory expectations, and how to set up an inspection program that will meet those expectations.
Business Continuity Plans (CE_BCP)
Although most employees at a firm will not be charged with the creation of a business continuity plan (BCP), all employees function as the eyes and ears of the firm and have varying perspectives of processes that cannot be anticipated by a narrow group. Awareness of the BCP development process and all the elements that must be considered will give employees a wider perspective of how their processes may be impacted by a significant business disruption. Feedback from employees is a critical part of developing and maintaining an effective BCP. This course, Business Continuity Plans, illustrates the framework for business continuity planning prescribed by the Securities and Exchange Commission (SEC), and the Office of the Comptroller of the Currency (OCC). This course describes rule requirements for the development, implementation, and testing of a BCP that apply to all financial services firms, including the firms that support other financial services firms. Students will review the specific considerations that must be given to the transition of business operations from the original business location to a backup facility, and the duration of the recovery process. Finally, the course will review the BCP requirements under FINRA's Rule 4370, which also includes incorporated NYSE Rule 446.
Business Development Companies (CE_BDC)
This course reviews the essential requisites of a Business Development Company (BDC) - the regulatory framework, operational details, and tax treatment. Both traded and nontraded BDCs are discussed as well as private offerings. In addition, due diligence, which is a critical step for all BDCs, is discussed in detail in the final lesson.
CDs and Money Market Instruments (CE_CDMMI)
CDs and Money Market Instruments is an introductory course that provides an overview of the characteristics, purpose, and risks of most of the commonly used money market instruments. The course starts with a detailed look at the differences between bank CDs and brokered CDs, and the limits to which FDIC insurance is applied to each. The lesson also describes the mechanics of the secondary market for brokered CDs as well as disclosure and sales practice expectations. An Investor Alert that warns investors of the red flags for high-yield CD scams is also included. Lesson 2 describes other types of money market instruments and the roles they play in financial markets to facilitate the flow of commerce and currency within and outside of the U.S. Lesson 2 also reviews money market funds in detail and describes how the "breaking of the buck" has shaken the confidence investors once had in these products. The lesson ends with a description of the reform provisions enacted by the SEC to restore that confidence and tighten the maturity, credit quality, and liquidity standards of money market funds.
Code of Ethics and Professional Responsibility (CFP_CEPR)
This program is focused exclusively on CFP Board?s Standards of Professional Conduct, and accomplishes the specific learning objectives as outlined by CFP Board. As discussed as well, the 6 LO for Ethics Programs: . Define and discuss a financial planning engagement, material elements of financial planning, and the financial planning process. . Analyze specific fact patterns to determine if a financial planning relationship exists. . Differentiate between the standards of care set forth in Rules 1.4 and 4.5 of the Rules of Conduct, and apply each standard of care to specific factual situations. . Apply each Practice Standard set forth in the Financial Planning Practice Standards to a hypothetical financial planning engagement. . Identify the information that must be disclosed to the client in writing by a CFP professional who is engaged in a financial planning relationship or providing material elements of financial planning. . Define the required information that must be disclosed to clients and prospective clients, when that information must be disclosed, and apply each disclosure requirement to specific factual situations. (This includes but is not limited to the compensation and conflict-of-interest disclosure requirements set forth in Rule 2.2 of the Rules of Conduct and Practice Standards 100-1, 400-3, and 500-1.
Communications - Use and Supervision of Social Networking Sites and Blogs (CE_COMM_SOCNET)
In 2016, a study by GlobalWebIndex showed that 2.3 billion people worldwide are now using social media. With the pace of technology speeding up the way we do business, it is tempting for representatives to sidestep the gray areas of compliance that are still not well-defined. Communications --- Use and Supervision of Social Networking Sites and Blogs is designed to fulfill training requirements for those firms that allow their representatives to use social networking sites and blogs for business purposes. In Lesson 1, students will learn about the different types of communications that can be transmitted via social networking sites and blogs, as well as the review and approval process for each. The lesson discusses recommendations and helps students understand what is considered a recommendation and what is not. The general standards of communication are included to remind students that regardless of how the communications are sent, they must be communicated properly and honestly. Lesson 2 addresses the supervision of social networking sites and blogs, including the review and approval process and record retention requirements.
Communications With the Public (CE_CWP)
This course highlights the different ways in which registered reps and firms communicate with the public, and reviews rules regarding these forms of communication. The course lists the standards of communication as set by the regulators and delves into the supervision required for the different types of communications.
Comparing College Savings Plans (CE_CCSP)
Since one college savings plan likely does not fit the needs of all families, a thorough understanding of the available options is the only way representatives and advisers can recommend the product that is best for each client. This course compares 529 plans against other higher education savings plans. Included is a discussion of how financial aid affects a college savings plan, as well as how to use a college expense estimator that can help your clients understand how much they need to save. As a sales tool, the course also provides an "at a glance" chart that compares the features of various savings vehicles.
Complex Products - Regulatory Issues (CE_CPRI)
Complex Products - Regulatory Issues reviews the various features that could characterize an investment product as "complex" and describes the specific concerns that regulators have with these products. The course provides actions that firms, representatives, and advisers should take to eliminate any misunderstandings regarding expectations about the products. Finally, the course outlines the supervisory obligations related to the sale of complex products, and the process the firms must following when introducing these products in their offering lineup.
Complex Products - Suitability (CE_CPS)
The obscure features and often illiquid nature of complex products play a vital role in the health of our economy. However, regulators around the globe are adopting precautionary or highly restrictive measures to ensure that the distribution of complex products to retail investors occurs under reasonable and ethical conditions. In addition to the varying degrees of market risks associated with complex or illiquid products, regulators believe that the complexity of these products adds an additional dimension to the investment decision process. The intricacy of these products can impair a clear understanding of how they will perform in a variety of time periods and market environments, which can lead to inappropriate recommendations and sales. Complex Products - Suitability first looks at general suitability and "know your customer" rules, emphasizing a client's risk tolerance and financial ability. The course then reviews the various features and factors that could characterize an investment product as "complex," and then describes over 15 specific complex products and their suitability concerns that firms, representatives, and advisers should be aware of in recommending these products to clients. After studying this course, students will be well-equipped to address the risks and educate potential investors about the unique features of complex products, derivatives, and nonconventional investments.
Complex Products - Supervision (CE_CPSUP)
Complex Products - Supervision reviews the various features that could characterize an investment product as "complex" and describes the specific concerns that regulators have with these features. The course explains why the sale of complex products has become a focus of regulatory examinations and helps supervisors recognize complex product sale practices that have been identified as problematic. Additionally, the course outlines the five elements of successfully introducing complex products to a firm, including due diligence obligations, training, suitability and ongoing client review, supervisory obligations, and ongoing product evaluation. Finally, the course offers methods for detecting sales practice violations and monitoring daily representative activity.
Compliance Policies and Risk Mitigation (Previously: Compliance Officer Responsibilities) (CE_COR)
This course provides broker/dealer compliance officers and compliance departments with an overview of the responsibilities for creating a compliance system that provides a process to manage their firm's risks. In addition, this system assists in alleviating the potential for and preventing those risks from escalating into violations, fines, and fraud within the firm. The course details cases in which effective policies and procedures could have been used to manage risk. Some broker/dealers have failed to understand the risks under which they are operating. These risks include business risk, regulatory risk, customer risk, and internal control risk. The course provides general explanations of these risk categories that can affect all aspects of a broker/dealer firm.
Conflicts of Interest (CE_CNFLCT_INTRST)
Conflicts of interest are an ever-present issue when financial service professionals administer "advice." Lesson 1 of this course discusses the various conflicts of interest occurring in the normal, day-to-day operations of retail registered representatives. Lesson 2 offers a detailed description of FINRA's recent focus on conflicts of interest and expectations for how firms should go about managing these conflicts. The course concludes with a discussion of mandatory disclosure obligations. Throughout the course, various case studies help illustrate the importance of developing a strong framework for managing conflicts of interest.
Conflicts of Interest - Multifunctional Firms (CE_COIMF)
Supervisors and compliance personnel may find this course beneficial in developing firm policies and procedures, and in ensuring all employees are in compliance with the rules regarding conflicts of interests. Conflicts of interest are common in the financial services industry and nowhere is this more apparent than in the case of a dual registered or multifunctional firm. The relationships between investment advisers, registered representatives, mutual fund and insurance companies, and their clients are fraught with potential conflicts of interest. This course looks at many of the conflicts faced by these professionals, and the obligations they have to their clients, including the requirement to eliminate or disclose all conflicts of interest. In Lesson 1 we look at the conflicts of interest that may arise in multifunctional firms and how to stay in compliance with disclosure rules. Lesson 2 focuses specifically on the conflicts of interest that investment advisers face and presents an overview of some supervisory and disclosure tools, including Form ADV and some of the conflicts that it should disclose. In addition, Lesson 3 focuses on the more common conflicts of interest and provides several cases where registered representatives and investment advisers failed to disclose the conflicts of interest they faced. You will see the consequences these firms, reps, and advisers paid for their oversight.
Corporate Debt I: Introduction to Corporate Debt Instruments (CE_CD1)
Corporate Debt I: Introduction to Corporate Debt Instruments describes two types of debt securities issued by corporations — short-term and long-term debt securities. It begins with an introduction to debt securities, and then explores short-term debt issues with a look at the difference between corporate issues and those issued by the U.S. government. Also discussed are long-term debt securities issued by corporations, including descriptions of the various ratings, the rating agencies that evaluate the corporations, and the impact of such ratings.
Corporate Debt II: Their Features (CE_CDII)
Corporate Debt II is the second in a five-part series about debt securities. This course describes specific features of bonds used by corporations and how they meet specific investment objectives of the investor. This includes put and callable bonds, call and refund restrictions, convertible bonds, floating rate notes, and zero-coupon bonds.
Corporate Debt III: The Underwriting Process (CE_CDIII)
Corporate Debt III: The Underwriting Process is designed to help you become familiar with the process of bringing new corporate issues to market. The course provides you with definition terms associated with underwriting, including investment banker, syndicate member, selling group member, and others. In addition, the course discusses registration of the issue, meetings that take place, documents to sign, and the process of pricing the issue.
Corporate Debt IV: Ratings, Pricing and Yields (CE_CD4)
This course delves into more detail about ratings for corporate bonds and their influence on bond pricing and yields. The course gives a brief history of ratings by Moody's and Standard and Poor's (S&P's). The course continues into pricing and quotes of corporate bonds, and finally discusses the three yields for a bond: Nominal yield, current yield, and yield-to-maturity.
Corporate Debt V: Risk & Investment Strategies (CE_CD5)
The course is the last in a series on Corporate Debt. The previous four courses covered types of debt securities, their features, the underwriting process, the impact of ratings assigned by major rating agencies, and the effect on prices and yields. This course focuses on two main topics — common risks associated with investing in corporate bonds and generally known investment strategies. These two areas can help support an investor's evaluation of whether the product can meet stated investment objectives.
Customer Complaint Handling for Front-Line Sales Personnel (CE_CCHFSP)
Customer Complaints for Front-Line Sales Personnel is designed to raise awareness of various aspects of customer complaints while offering tools to help reduce the risk of receiving a customer complaint. This course addresses various aspects of handling unhappy customers, including helping them resolve issues before they become written complaints. Awareness of industry trends illustrated in this course should prompt sales personnel to review their own relationships with customers in an effort to avoid the most common types of complaints.
Customer Identification Programs (CE_CIP)
This course explains the Customer Identification Program (CIP), Section 326 of the USA PATRIOT Act, how the U.S. Treasury Department implements it, and why it is vital for the financial services industry. It describes CIP concepts and how they apply to your firm's daily operation. Most firms already have policies and procedures in place that meet or exceed the requirements of the USA PATRIOT Act; this course discusses your role in the process, and how compliance with your firm's CIP protects you, your firm, and your firm's customer assets.
Cybersecurity for Firms (CE_CYBER)
This course describes the importance of a cybersecurity program, beginning with FINRA's perspective from its 2014 cybersecurity sweep and subsequent Report on Cybersecurity Practices, which includes the top three cybersecurity threats. The course explores the tactics used to hack into a firm's systems and ways that firms and employees can prevent these breaches. Best practices for employees who handle confidential and sensitive information are discussed, and examples are given for the specific information that must be protected. Finally, FINRA's eight resources for developing and advancing a firm's cybersecurity program are laid out. Case studies and examples throughout the course help illustrate the need for a strict cybersecurity program.
Cybersecurity for Representatives and Clients (CE_CYBERRC)
This course describes the importance of a cybersecurity program, the tactics used to hack into a firm's systems, and ways that representatives and their clients can prevent these breaches. Best practices for employees who handle confidential and sensitive information are discussed, and examples are given for the specific information that must be protected. Finally, the course describes FINRA's recent focus on specific aspects of cybersecurity such as cloud storage, crowdfunding, and customer account protection.
Deferred Variable Annuities - FINRA Rule 2330 (CE_DVA)
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.
Distribution of Third Party Research Reports (CE_DTPRR)
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 (CE_CSP_TC)
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.
Electronic Communications (CE_EC)
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 (CE_EE)
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 (CE_EDD)
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.
Equity Security Recommendations (CE_ESR)
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.
ERISA and The Fiduciary Standard (CE_EFS)
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.
Estate Planning (CE_ESTP)
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.
Ethics (General) (CE_ETH)
This course focuses on ethics and ethical behavior in the securities industry. Lesson 1 differentiates between ethics and morals and offers possible motivations for "white collar" crime. In addition, the course offers steps to take when one is struggling with an ethical dilemma. Lesson 2 identifies ethical best practices for registered representatives, including the ethical standards that must be followed when interacting with customers. The final lesson of the course touches on professional behavior and attitudes and the impact they have on the integrity of the securities profession. Recent case studies are presented throughout to emphasize the course material.
Ethics and Non-Cash Compensation (CE_ETHICS_NCC)
Ethics and Non-Cash Compensation focuses on ethics or ethical behavior and how it fits into the moral framework of industry rules. It explores both unethical practices and ethical best practices for registered representatives and outlines the required ethical standards for non-cash compensation. The final lesson of the course touches on professional behavior and attitudes and the impact they have on the integrity of the securities profession.
Ethics for Futures Reps (CE_EFR)
Pursuant to the National Futures Association's Compliance Rule 2-9, which requires annual training in ethics, Ethics for Future Reps discusses ethical issues through case studies that portray the ethical decisions that should be made under given circumstances. While the type of customers that invest in futures varies, the basic concepts of customer service and placing the interests of the customer first should always prevail. A firm's culture with respect to ethics is critically important in order that firms provide exceptional customer service and build a strong business around serving the needs of its customers. Considering the constantly changing industry rules and standards, firms must make employees aware of the best behaviors for given situations that fully comply with industry rules and standards of ethical behavior. This course is appropriate for futures representatives who must be aware of how to uphold such rules and standards.
Ethics for Institutional Representatives (CE_ETH_INSTITUTIONAL)
The financial services industry is one of the most highly-regulated industries in the world. Countless governmental bodies and self-regulatory agencies have issued volumes of rules and regulations that give specific guidelines for conducting business. However, there are times when choosing which direction to take cannot be found in the rulebooks. At times, individuals must rely on their own sense of right vs. wrong, or make a choice between the lesser of two evils. This is where a person's ethics come into play. As a registered representative conducting business with institutional clients, many people look up to you, both inside and outside the industry. The actions you take are examples for other reps who hope to one day find themselves in your position. This course looks at the motivations behind ethical and unethical actions, some of which are also prohibited. It also describes the principles and models detailed in the International Organization of Securities Commissions Self-Regulatory Consultative Committee's report on a code of ethics.
Ethics for Research Analysts (CE_ERA)
Securities research analysts came under tighter scrutiny due to a number of scandals in the late 1990s and early 2000s. Ethics for Research Analysts begins by examining the nature of ethics, how easy it is to justify unethical behavior, and steps that can be taken to help avoid it. The course moves on to rules instituted to prevent fraudulent activities, how to avoid conflicts of interest, the importance of information barriers, and how to evaluate if a firm's research is objective. The final lesson in the course discusses research analyst communications and how they may be affected by the JOBS Act.
Ethics for Wholesalers (CE_ETHICS_W)
This course provides an overview of wholesaler roles, how wholesalers help registered reps perform their jobs, and how ethical dilemmas may arise and be resolved in the execution of this role. The course outlines activities that should be avoided and what can happen when a wholesaler makes unethical choices. We look at the different means of communicating with the public and the regulatory requirements surrounding each, as well conflicts of interest and appropriate disclosures. Finally, the rules and regulations that affect giving gifts and providing entertainment are also discussed.
Exchange-Traded Funds (CE_ETFNDS)
Exchange-Traded Funds (ETFs) have been the focus of regulatory concern recently. This course is designed to comply with regulator training requirements and provide the student with a working knowledge of the ETFs distinctive terms, features, suitability factors, and risks, as well as help them gain proficiency with leveraged and inverse ETF calculations. This course presumes a foreknowledge of basic trading and analysis concepts. The course also requires some light mathematic calculations.
Fair Pricing and Compensation (CE_FPAC)
This course focuses on fair pricing and compensation prescribed by FINRA Rule 2121 and FINRA Rule 2124. It defines the standards for fair pricing and market circumstances that should be considered when determining a fair price. Specifically, the course discusses the 5% guideline, and the parameters for determining the prevailing market price of a bond. The course discusses in detail the difference between a "broker" and "dealer," and the differences in how each is compensated. The first lesson describes how to calculate the compensation for a "net" transaction, in addition to disclosure and consent requirements for various client types. Finally, the course reviews some recent regulatory concerns, and the best practices prescribed by FINRA for detecting abusive practices at your firm regarding proprietary trading. In addition, the final lesson discusses specific regulatory concerns regarding fees and compensation related to direct participation programs (DPP's), and real estate investment trusts (REIT's).
Fiduciary Responsibility (CE_FIDRESP)
"Fiduciary duty is the first principle of the investment adviser." This statement by Lori Richards, Director of the Office of Compliance Inspections and Examinations of the SEC, underscores investment advisers' fiduciary responsibility to their clients. Through this course, students will learn what it means to be a fiduciary in the eyes of the Supreme Court, the SEC, and NASAA. Fiduciary Responsibility explores the different standards that apply to investment adviser representatives and the registered reps with broker/dealers, and how the rules that mandate who must act as a fiduciary may be changing. The top responsibilities of investment advisers acting as fiduciaries are listed as well as the deficiencies most commonly found in SEC examinations of investment advisers. Fiduciary Responsibility concludes with a look at some conflicts of interest that can arise in the course of business, and how failing to deal with them properly can result in disciplinary actions.
FINOP Duties and Customer Protection (CE_FINOP)
FINOP Duties & Customer Protection provides a review of regulations involving the financial operations of a brokerage firm. The three major rules covered in this course are:
  • Rule 15c3-1 --- broker/dealer's minimum standards for net capital, known as the Net Capital Rule
  • Rule 17a-11 --- the early warning and reporting rule regarding net capital
  • Rule 15c3-3 --- the Customer Protection Rule
FINRA: AML - Bank-Affiliated Broker-Dealers: Understanding Your Role, Vol. 1 (ELC233) (FINRA_ELC233)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. Scenarios in this course will help registered representatives at bank-affiliated broker-dealers identify unusual activity in customer accounts that could indicate potential money laundering, and identify what steps to take when such suspicion arises. By taking this course, you will be able to: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Broker-Dealers Conducting Business With Foreign Customers: Understanding Your Role, Vol. 1 (EL-ELC235) (FINRA_ELC235)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. Scenarios in this course will help registered representatives who conduct business with foreign customers identify unusual activity in their accounts that could indicate potential money laundering, and identify what steps to take when such suspicion arises. By taking this course, you will be able to: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Compliance: Suspicious Activity Surveillance, Part 1 (EL-ELC195) (FINRA_AMLC_SAS1_E)
This course is the first course in a two-part anti-money laundering series for compliance staff. The activities in this course aim to help compliance professionals identify the types of red flags that could trigger a SAR filing, and illustrate ways to examine and respond to red flags.
FINRA: AML - Compliance: Suspicious Activity Surveillance, Part 2 (EL-ELC196) (FINRA_AMLC_SAS2_E)
This course is the second in a two-part anti-money laundering series for compliance staff. The case studies in this course demonstrate monitoring techniques to prepare broker-dealer compliance staff to identify, investigate and report suspicious activity in customer accounts. It also includes practice on how to write an effective SAR narrative.
FINRA: AML - Independents: More Key Concepts (EL-ELC221) (FINRA_ELC221)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. The scenarios in this course aim to help registered representatives identify unusual activity in customer accounts that could indicate potential money laundering, and identify what steps to take when such suspicion arises. By taking this course, you will be able to: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Independents: Understanding Your Compliance Obligations (EL-ELC206) (FINRA_ELC206)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. In this course, scenarios highlight risks independent firms and registered representatives face when handling unusual account activity and expediting the account-opening process. By taking this course, you will be able to: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Institutional: Customer Identification Procedures (EL-ELC152) (FINRA_AML_INT_CIP_E)
Scenarios illustrate the customer identification process and address typical situations involving institutional customers.
FINRA: AML - Institutional: Escalating Concerns of Unusual Activity and Responsibilities for Due Diligence (EL-ELC176) (FINRA_AMLI_ECD_E)
Scenarios demonstrate the need to obtain proper customer identification for institutional accounts and emphasize the importance of due diligence.
FINRA: AML - Institutional: Exploring New Risks (EL-ELC135) (FINRA_AML_IN_ENR_E)
Scenarios cover situations involving a suspect sub-account, including account opening and subsequent trading and funding activity, and due diligence with a high-risk client.
FINRA: AML - Institutional: Identification and Reporting Issues (EL-ELC121) (FINRA_ID_REPORT_E)
Scenarios cover trading activity that is inconsistent with investment objectives, extra due diligence requirements for an acquisition and new account opening with a politically exposed person.
FINRA: AML - Institutional: Identifying and Managing Higher-Risk Clients (EL-ELC112) (FINRA_AML_INST_E)
Scenarios include situations involving new account openings with institutional customers, including a hedge fund and a client with existing accounts elsewhere at the firm.
FINRA: AML - Institutional: More Key Issues (EL-ELC222) (FINRA_ELC222)
The scenarios in this course aim to help institutional registered representatives identify unusual activity in client accounts that could indicate potential money laundering, and identify what steps to take when such suspicion arises.
FINRA: AML - Institutional: Recognizing Red Flags (EL-ELC144) (FINRA_AML_INST_RRR_E)
Scenarios illustrate the customer identification process and address typical situations involving institutional customers.
FINRA: AML - Institutional: Understanding Your Compliance Obligations (EL-ELC207) (FINRA_ELC207)
In this course, scenarios highlight risks institutional firms and registered representatives face when handling unusual account activity and expediting the account opening process.
FINRA: AML - Institutional: Understanding Your Role, Vol. 1 (EL_ELC_230) (FINRA_ELC230)
In this course, scenarios help institutional registered representatives identify unusual activity in customer accounts that could indicate potential money laundering, and identify what steps to take when such suspicion arises.
FINRA: AML - Institutional: Your Role in Detecting and Deterring Money-Laundering Activity (EL-ELC192) (FINRA_AMLI_YRDDML_E)
Activities in this course demonstrate why prompt escalation of suspicious activities is essential. Your firm does not need to confirm that a crime has been committed before it files a report, and you do not need evidence that a transaction involves illegal activity before you escalate the situation.
FINRA: AML - Operations Staff: Understanding Your Compliance Obligations (EL-ELC208) (FINRA_ELC208)
In this course, scenarios highlight risks operations staff face when handling unusual account activity and expediting the account-opening process.
FINRA: AML - Operations: Customer Identification Procedures (EL-ELC153) (FINRA_AML_OPS_CIP_E)
Scenarios focus on the responsibility of all employees to escalate suspicious activity and possible red flags, and illustrate the value of account monitoring by operations staff.
FINRA: AML - Operations: Escalating Concerns of Unusual Activity and Responsibilities for Due Diligence (EL-ELC177) (FINRA_ELC177)
Scenarios demonstrate how an operations professional can recognize methods money launderers may use and when to escalate concerns related to unusual account activity.
FINRA: AML - Operations: More Key Issues (ELC224) (FINRA_ELC224)
The scenarios in this course aim to help operations professionals identify unusual activity in customer accounts that could indicate potential money laundering, and identify what steps to take when such suspicion arises.
FINRA: AML - Operations: Recognizing Red Flags (EL-ELC150) (FINRA_AMLO_RRF_E)
Scenarios illustrate the customer identification process and address typical situations involving retail customers.
FINRA: AML - Operations: Your Role in Detecting and Deterring Money-Laundering Activity (EL-ELC193) (FINRA_AMLO_YRDDML_E)
Scenarios demonstrate the role of operations professionals in detecting and reporting suspicious activity. Firms are required to report a broad range of suspicious activities even if they do not have actual knowledge that a transaction involves criminal activity. (EL-ELC193)
FINRA: AML - Retail: Customer Due Diligence (EL-ELC120) (FINRA_AMLR_RTKYC_E)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. Scenarios review the importance of ?knowing your customer,? with situations involving a newly referred client and a new account for the real estate LLC of a long-term client. By taking this course, you will be able to: - Explain the purpose of your firm's AML program. - Describe the customer identification program (CIP) regulatory requirement when opening customer accounts. - Explain the importance of monitoring customer accounts to detect and report suspicious activity that might be indicative of money laundering and other criminal activities. - Identify "red flags" that may signal money laundering or other potentially suspicious activity.
FINRA: AML - Retail: Customer Identification Procedures (EL-ELC154) (FINRA_AML_RET_CIP_E)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. This course illustrates the customer identification process and addresses typical situations involving retail customers. By taking this course, you will be able to: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Retail: More Key Issues (EL-ELC220) (FINRA_ELC220)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. The scenarios in this course aim to help registered representatives identify unusual activity in customer accounts that could indicate potential money laundering, and identify what steps to take when such suspicion arises. By taking this course, you will: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Retail: Understanding Your Compliance Obligations (EL-ELC205) (FINRA_ELC205)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. In this course, scenarios highlight risks retail firms and registered representatives face when handling unusual account activity and expediting the account-opening process. By taking this course, you will be able to: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Retail: Understanding Your Role, Vol. 1 (ELC229) (FINRA_ELC229)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. The scenarios in this course illustrate typical money-laundering situations. This course will help registered representatives identify unusual activity in customer accounts that could indicate potential money laundering, and identify steps to take when such suspicion arises. By taking this course, you will be able to: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Retail: Understanding Your Role, Vol. 2 (ELC239) (FINRA_ELC239)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. In this course, registered representatives are presented with scenarios that help demonstrate the critical role they play in recognizing and escalating situations that may indicate money-laundering activity. By taking this course, you will be able to: - Recognize unusual or suspicious activity that may indicate potential money laundering. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Understand that those who engage in money laundering activity are constantly changing tactics to avoid detection. - Handle situations with customers or potential customers when having to ask for additional information upon observing unusual account activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Retail: Variable Annuities and Variable Life Insurance (EL-ELC164) (FINRA_AMLR_VAVLI_E)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. Scenarios demonstrate how to detect methods money launderers may use to exploit provisions in variable annuities and variable life insurance contracts -- including the loan provision, free-look provision and gifting -- in order to prevent money-laundering activity. By taking this course, you will: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Understand how variable life insurance and variable annuities can be used in a money laundering process.
FINRA: AML - Retail: Your Role in Detecting and Deterring Money-Laundering Activity (EL-ELC191) (FINRA_AMLR_YRDDML_E)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. Scenarios demonstrate the need to detect and report suspicious activity. Firms are required to report a broad range of suspicious activities even if they do not have actual knowledge that a transaction involves criminal activity. By taking this course, you will: - Understand why broker-dealers have AML compliance programs. - Know what is required to conduct customer identity verification. - Recognize the importance of ongoing due diligence as it relates to customers and their accounts. - Identify "red flags" that may signal money laundering or other potentially suspicious activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Supervisor: Understanding Your Role (ELC-240) (FINRA_ELC240)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. In this course, supervisors are presented with scenarios that help demonstrate the critical role they play in recognizing, monitoring and escalating situations that may indicate money-laundering activity. By taking this course, you will be able to: - Understand the importance of monitoring registered representatives' customer accounts for unusual activity that may indicate potential money-laundering activity. - Recognize the importance of ongoing due diligence as it relates to your registered representatives' customers and their accounts. - Understand that those who engage in money laundering activity are constantly changing tactics to avoid detection. - Handle situations with customers or potential customers when having to ask for additional information upon observing unusual account activity. - Better understand your role in recognizing and escalating suspicious activity.
FINRA: AML - Wholesalers: More Key Issues (EL-ELC223) (FINRA_ELC223)
The scenarios in this course aim to help wholesaler registered representatives identify unusual activity in customer accounts that could indicate potential money laundering, and identify what steps to take when such suspicion arises.
FINRA: AML - Wholesalers: Understanding Your Compliance Obligations (EL-ELC209) (FINRA_ELC209)
In this course, scenarios highlight risks wholesale firms and registered representatives face when handling unusual account activity and expediting the account opening process.
FINRA: AML - Wholesalers: Your Role in Detecting and Deterring Money-Laundering Activity (EL-ELC194) (FINRA_AMLW_YRDDML_E)
Brief scenarios demonstrate the need to detect and report suspicious activity. If you see something, say something — even if you don't work directly with individual customers. Firms are required to report a broad range of suspicious activities even if they do not have actual knowledge that a transaction involves criminal activity.
FINRA: AML Operations - Understanding Your Role Volume 1 - (ELC245) (FINRA_ELC245)
In this course, operations professionals work through scenarios illustrating the importance of staying alert and reporting suspicious activity, including predicate offenses to money laundering such as identity theft and market manipulation.
FINRA: AML Retail: Understanding Your Role, Vol. 3 (ELC243) (FINRA_ELC243)
FINRA's anti-money laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations. In this course, registered representatives work through scenarios illustrating the importance of staying alert and reporting suspicious activity, including predicate offenses to money laundering such as identity theft, insider trading and market manipulation. By taking this course, you will learn to: - Define money laundering and describe how it occurs in the financial services industry. - Explain the purpose of your firm's AML program. - Describe the customer identification program (CIP) regulatory requirement when opening customer accounts. - Explain the importance of monitoring customer accounts to detect and report suspicious activity that might be indicative of money laundering and other criminal activities.
FINRA: Annual Compliance Reminders for Institutional Registered Representatives - Vol. 4 (EL-ELC246) (FINRA_ELC246)
This course uses scenarios adapted from actual FINRA disciplinary actions to remind institutional registered representatives about their compliance obligations. Volume 4 covers private securities transactions, use of social media, conflicts of interest, ethical behavior and customer complaints.
FINRA: Annual Compliance Reminders for Institutional Registered Representatives, Vol. 1 (EL-ELC204) (FINRA_ACRIRR_E)
This course uses scenarios adapted from actual FINRA disciplinary actions to remind institutional sales representatives of their compliance obligations. Volume 1 covers social media and public communications, Form U4 disclosures, private securities transactions, handling firm funds and maintaining ethical behavior when fulfilling continuing education requirements.
FINRA: Annual Compliance Reminders for Institutional Registered Representatives, Vol. 2 (EL-ELC-219) (FINRA_ACRIRR2_E)
The courses in FINRA's Annual Compliance Reminders series use scenarios adapted from actual FINRA disciplinary actions to remind registered representatives about their compliance obligations. The newest course in this series is geared toward institutional registered representatives, and covers responding to FINRA requests for information, borrowing money from clients, ethical behavior and more.
FINRA: Annual Compliance Reminders for Institutional Registered Representatives, Vol. 3 (EL-ELC228) (FINRA_ELC228)
This course uses scenarios adapted from actual FINRA disciplinary actions to remind institutional registered representatives about their compliance obligations. Volume 3 covers proper handling of customer accounts and funds, outside business activities, communications with the public and more.
FINRA: Annual Compliance Reminders for Registered Representatives Vol 7 (ELC249) (FINRA_ELC249)
"In this course, you will be able to: - Identify common regulatory requirements. - Meet your compliance obligations as you go about your daily business - Understand the potential consequences of failing to comply with your firm's policies and FINRA rules. - Recognize your compliance obligations in: suitability, communications with the public, outside business activities, concealing the improper receipt of customer funds, falsifying documents related to customer accounts, misuse of discretionary power, unauthorized trading and more."
FINRA: Annual Compliance Reminders for Registered Representatives, Vol. 1 (EL-ELC190) (FINRA_ACRFRR_E)
This course uses scenarios adapted from actual disciplinary actions to remind registered representatives about their compliance obligations. Volume 1 covers outside business activities, private securities transactions, Form U4 disclosures, responding to compliance requests, providing accurate customer information, customer complaints and settlements, email, handling customer and firm funds, trade authorizations and conflicts of interest related to borrowing money from customers. In this course, you will be able to: - Identify common regulatory requirements. - Understand the potential consequences of failing to comply with your firm's policies and FINRA rules. - Recognize your compliance obligations in: providing your firm with written notice for outside business activities, getting your firm's approval before engaging in private securities transactions, disclosing all material information on your form U4, responding to all compliance requests in a timely manner, providing accurate customer information, notifying your firm about customer complaints and settlements, not using personal email for work, handling customer's and firm's funds properly, obtaining written authorization to make trades for your customer, and managing conflicts of interest.
FINRA: Annual Compliance Reminders for Registered Representatives, Vol. 2 (EL-ELC203) (FINRA_ACRFRR2_E)
This course uses scenarios adapted from actual FINRA disciplinary actions to remind registered representatives about their compliance obligations. Volume 2 covers social media and public communications, trade authorizations, Form U4 disclosures, outside business activities, private securities transactions, handling customer funds related to borrowing money from customers, and maintaining ethical behavior when fulfilling continuing education requirements. In this course, you will be able to: - Identify common regulatory requirements. - Understand the potential consequences of failing to comply with your firm's policies and FINRA rules. - Recognize your compliance obligations in: using social media and public communications appropriately, ensuring all customer transactions are authorized, disclosing all material information on your form U4, ensuring proper notice to your firm about outside business activities, following proper steps before engaging in private securities transactions, handling your customer's funds in a proper manner, maintaining ethical behavior.
FINRA: Annual Compliance Reminders for Registered Representatives, Vol. 3 (EL-ELC218) (FINRA_ACRFRR3_E)
This course uses scenarios adapted from actual FINRA disciplinary actions to remind registered representatives about their compliance obligations. Volume 3 covers communications with the public, suitability, ethical behavior and more. In this course, you will be able to: - Identify common regulatory requirements. - Understand the potential consequences of failing to comply with your firm's policies and FINRA rules. - Recognize your compliance obligations in: managing conflicts of interest, responding to all compliance requests in a timely manner, ensuring proper communications with the public, maintaining ethical behavior, falsifying documents or information, proper handling of customer complaints and settlements, providing accurate expense reports to your firm, providing accurate customer information, maintaining ethical behavior when transacting business with your firm, ensuring recommendations and transactions are suitable.
FINRA: Annual Compliance Reminders for Registered Representatives, Vol. 4 (EL-ELC227) (FINRA_ACRRR4)
This course uses scenarios adapted from actual FINRA disciplinary actions to remind registered representatives about their compliance obligations. Volume 4 covers handling customer accounts and funds properly, unauthorized transactions, outside business activities, suitability and more. In this course, you will be able to: - Identify common regulatory requirements. - Understand the potential consequences of failing to comply with your firm's policies and FINRA rules. - Recognize your compliance obligations in: handling your customer's funds in a proper manner, disclosing all material information on your form U4, ensuring all customer transactions are authorized, following proper steps before engaging in outside business activities and holding outside securities account, managing conflicts of interest, ensuring recommendations and transactions are suitable for your customer, acting ethically when handling customer accounts, ensuring that your clients signs required forms, using public communications appropriately, maintaining ethical behavior when transacting business with your firm.
FINRA: Annual Compliance Reminders for Registered Representatives, Vol. 5 (EL-ELC237) (FINRA_ELC237)
This course uses scenarios adapted from actual FINRA disciplinary actions to remind registered representatives about their compliance obligations. Volume 5 covers responding to regulatory requests in a timely manner, recognizing red flags, maintaining ethical behavior when fulfilling continuing education requirements, suitability, proper handling of customer accounts and observing high standards commercial honor. In this course, you will be able to: - Identify common regulatory requirements. - Understand the potential consequences of failing to comply with your firm's policies and FINRA rules. - Recognize your compliance obligations in: responding to regulatory requests in a timely manner, recognizing red flags, maintaining ethical behavior when fulfilling continuing education requirements, suitability, proper handling of customer accounts and observing high standards commercial honor.
FINRA: Annual Compliance Reminders for Registered Reps Vol 6 (ELC244) (FINRA_ELC244)
This course uses scenarios adapted from actual FINRA disciplinary actions to remind registered representatives about their compliance obligations. Volume 6 covers borrowing from clients, completing and amending Form U4s, conducting business using approved communication channels, disclosing participation in outside business activities, exercising discretion in customer accounts, falsifying documents related to customer accounts, maintaining accurate books and records, responding to FINRA requests for information, responding to firm compliance requests and submitting business expense reimbursements. In this course, you will be able to: - Identify common regulatory requirements. - Understand the potential consequences of failing to comply with your firm's policies and FINRA rules. - Recognize your compliance obligations in: borrowing from clients, completing and amending Form U4s, conducting business using approved communication channels, disclosing participation in outside business activities, exercising discretion in customer accounts, falsifying documents related to customer accounts, maintaining accurate books and records, responding to FINRA requests for information, responding to firm compliance requests and submitting business expense reimbursements.
FINRA: Books and Records (EL-ELC131) (FINRA_BR_E)
This course explains the obligations of registered persons to maintain records of actions undertaken in their capacity as representatives of the firm. Scenarios illustrate and reinforce compliance with recordkeeping and retention requirements when electronic media are involved. By taking this course, you will understand the applicable SEC and FINRA books and records requirements, and how to maintain a complete and accurate books and records in securities industry. You will understand how to adhere to the regulations and your firm's guidance when conducting your business.
FINRA: Business Conduct - Institutional: Understanding Information Barriers (EL-ELC199) (FINRA_BUSCI_UIB_E)
This course is designed to help securities industry professionals understand information barriers and the regulatory obligations regarding confidentiality, privacy and conflicts of interest as they relate to material, nonpublic information. It explores related topics such as wall-crossing procedures, restricted and watch lists, physical and electronic separation, and insider trading as it relates to information barriers. Scenarios address information barriers with respect to research and investment banking. By taking this course, you will be able to understand: - What information barriers are; - Your?and your firm's?obligations regarding confidentiality, privacy and conflicts of interest as they relate to material, non-public information and information barriers; and - How information barriers work by exploring situations involving investment banking representatives and research analysts.
FINRA: Business Gifts (EL-VLC001) (FINRA_BUS_GIFTS_E)
This video course discusses a registered representative's responsibilities when giving business gifts. The program presents rule requirements and general indistry practices around this issue, and then reinforces them with a scenario. (EL-VLC001)
FINRA: Communications With The Public: Compliance Issues for Independent Registered Representatives (EL-ELC212) (FINRA_CWP_CIIR_E)
This course helps independent registered representatives understand their compliance responsibilities when communicating with clients. It covers the consequences of non compliance with requirements for communicating with the public. By taking this course, you will be able to: - Explain what constitutes communications with the public. - Identify content standards for communications with the public. - Recognize FINRA review requirements.
FINRA: Communications With The Public: Compliance Issues for Wholesalers (EL-ELC211) (FINRA_CWP_CIW_E)
This course is designed to help wholesalers understand their compliance responsibilities.It covers the consequences of noncompliance with requirements for communications with the public.
FINRA: Communications With The Public: What Retail Staff Need to Know (EL-ELC210) (FINRA_CWP_WRSNTK)
This course covers situations retail registered representatives face when communicating with clients, and the consequences of non-compliance with requirements for approval, disclosure and retention of communications with the public. By taking this course, you will be able to: - Explain what constitutes communications with the public. - Identify content standards for communications with the public. - Recognize FINRA review requirements.
FINRA: Conflicts of Interest (ELC242) (FINRA_ELC242)
This course highlights conflicts of interests that could arise between registered representatives, clients and firms in the securities industry. Conflict-related scenarios are presented to help registered representatives learn how to better identify, mitigate and manage conflicts of interest in their business. By taking this course, you will be able to: - Identify potential and actual conflicts of interest in your business. - Describe effective practices for mitigating and managing conflicts of interest. - Explain the impact of improperly managing conflicts of interest.
FINRA: Corporate and Government Bonds: Regulatory Concerns (EL-ELC226) (FINRA_ELC226)
This course addresses some of the inherent risks associated with corporate and government bonds, including Treasury, agency and government-sponsored enterprise (GSE) bonds. It is designed to help you better understand risks, sales practice issues, rules and regulations related to these bonds. By taking this course, you will: - Understand some of the regulatory issues involved in corporate, Treasury, agency and GSE bonds; - Recognize some of the inherent risks involved with buying, selling and investing in corporate, Treasury, agency and GSE bonds; and - Uunderstand the rules and regulations related to corporate, Treasury, agency and GSE bonds.
FINRA: Customer Information Protection for Registered Representatives (EL-ELC155) (FINRA_CIPRR_E)
This course covers concepts to help registered representatives understand procedures for protecting confidential personal customer information and detecting possible breaches in information security. It provides suggestions for what to do if customer information is compromised and steps to take to better protect this information. By taking this course, you will be able to: - Understand how you can help protect confidential personal customer information. - Detect possible breaches of information security. - Know what you should do if you suspect customer information has been compromised.
FINRA: Customer Information Protection for Supervisors (EL-ELC156) (FINRA_SCIP_E)
This course covers concepts to help supervisors implement firm procedures for protecting confidential personal customer information and detecting possible breaches in information security. It provides suggestions for what to do if ustomer information is compromised and steps to take to better protect this information. By taking this course, you will be able to: - Better implement and supervise your firm's procedures for protecting confidential personal customer information. - Detecting possible breaches in information security. - Know what you should do in the event that either you ? or a registered representative that you supervise ? suspect customer information has been compromised. - Know steps you can take to better protect this information.
FINRA: Cybersecurity - Understanding Your Role (EL-ELC238) (FINRA_ELC238)
This course focuses on the necessity for cybersecurity controls in your day-to-day business. It will help you identify some of the cyber threats that can harm you, your customers and your firm. The course will also help you better understand the rules and regulations that apply to cybersecurity. After taking this course, you will understand your responsibilities as they relate to cybersecurity, including: - recognizing current types of cyber threats and common scams; - protecting your customers, your firm and yourself from cyberattacks; and - responding to cybersecurity threats.
FINRA: Debt Mark-Ups (EL-ELC143) (FINRA_DM_E)
This course covers rules and regulatory guidance surrounding the identification of prevailing market price and the factors to consider when determining mark-ups on transactions in debt securities. This course aims to help you: - Describe specific regulatory rules and guidance regarding fair prices and debt mark-ups. - Define and identify the prevailing market price of a debt security. - Explain factors to consider in determining fair mark-ups (mark-downs) on transactions in debt securities.
FINRA: Electronic Communications: What Independent Registered Representatives Need to Know (EL-ELC216) (FINRA_EC_WIRRNTK_E)
This course helps independent registered representatives understand their responsibilities with respect to electronic communications. It shows how regulatory standards apply to social media and other electronic communications. By taking this course, you will be able to: - Explain what constitutes communications with the public. - Recognize content standards for communications with the public. - Identify the various forms of electronic communications. - Explain why electronic communications must adhere to the same content standards as written communications.
FINRA: Electronic Communications: What Retail Staff Need to Know (EL-ELC213) (FINRA_EC_WRSNTK_E)
This course helps retail registered representatives understand the requirements applicable to all communications with the public and shows how regulatory standards apply to social media and other electronic communications. By taking this course, you will be able to: - Explain what constitutes communications with the public. - Recognize content standards for communications with the public. - Identify the various forms of electronic communications. - Explain why electronic communications must adhere to the same content standards as written communications.
FINRA: Electronic Communications: What Supervisors Need to Know (EL-ELC214) (FINRA_EC_WSNTK_E)
This course helps supervisors understand their responsibilities with respect to electronic communications. It shows how regulatory standards apply to social media and other electronic communications. By taking this course, you will be able to: - Explain what constitutes communications with the public. - Recognize content standards for communications with the public. - Identify the various forms of electronic communications. - Explain why electronic communications must adhere to the same content standards as written communications. - Understand your supervisory responsibilities with respect to electronic communications.
FINRA: Electronic Communications: What Wholesalers Need to Know (EL-ELC215) (FINRA_EC_WWNTK_E)
This course helps wholesalers understand their compliance responsibilities with respect to electronic communications.It shows how regulatory standards apply to social media and other electronic communications.
FINRA: Ethical Considerations for Institutional Sales Representatives (EL-ELC173) (FINRA_ECFISR_E)
This course presents six common ethical principles and selected decision-making models for Institutional Sales Representatives to consider when facing ethical dilemmas. Scenarios demonstrate how these ethics models can be practically applied to common ethical challenges faced by securities professionals.
FINRA: Ethical Considerations for Operations Professionals (EL-ELC172) (FINRA_ECFOP_E)
This course presents six common ethical principles and selected decision-making models for Operations Professionals to consider when facing ethical dilemmas. Scenarios demonstrate how these ethics models can be practically applied to common ethical challenges faced by securities professionals.
FINRA: Ethical Considerations for Registered Representatives (EL-ELC170) (FINRA_ECFRR_E)
This course presents six common ethical principles and selected decision-making models for Registered Representatives to consider when facing ethical dilemmas. Scenarios demonstrate how these ethics models can be practically applied to common ethical challenges faced by securities professionals.
FINRA: Ethical Considerations for Supervisors (EL-ELC171) (FINRA_ECFS_E)
This course presents six common ethical principles and selected decision-making models for Supervisors to consider when facing ethical dilemmas. Scenarios demonstrate how these ethics models can be practically applied to common ethical challenges faced by securities professionals.
FINRA: Exchange-Traded Products: Understanding Leveraged and Inverse ETPs (EL-ELC179) (FINRA_ETP_E)
This course explains exchange-traded products (ETPs), with a particular focus on leveraged and inverse ETPs. It describes the factors that can affect the performance of these products, including the effect of compounding on daily reset, and identifies the benefits and risks of investing in these non-traditional ETPs. By taking this course, you will be able to: - Uunderstand ETPs in general; - Recognize the benefits and risks of leveraged and inverse ETPs; - Identify factors that should be considered by those who invest in leveraged or inverse ETPs; and - Better understand the effect of compounding on the performance of leveraged and inverse ETPs with a daily reset.
FINRA: Fixed Income Suitability: Retail Sales Practices (EL-ELC125) (FINRA_FISRSP_E)
This course reviews fixed income product characteristics and risk factors, and illustrates the unique suitability considerations and regulatory subtleties associated with the sale of these securities. This course aims to help you: - Explain what fixed income products are and name different types. - Describe the characteristics and risk factors of fixed income products. - Recognize the unique suitability considerations and regulatory requirements associated with the sale of fixed income products.
FINRA: Foreign Corrupt Practices Act: Avoiding Improper Payments (EL-ELC110) (FINRA_FCPAAVOID_E)
In today's international business climate, securities professionals must understand and comply with regulations governing corruption and bribery in business practices around the globe. The course covers handling of indirect payments, interactions with intermediaries and government officials, recordkeeping and due diligence. By taking this course, you will be able to: - Recognize what could be considered an improper payment - Identify who must comply with improper payment laws - Understand that certain payments should be documented - Understand the consequences of violating improper payment laws
FINRA: Gifts: Independent Registered Representative (EL-ELC187) (FINRA_BGUIRRR_E)
This course presents regulatory requirements and industry compliance practices related to business gifts to help you understand your role as an independent registered representative in complying with FINRA rules. Brief interactive activities and scenarios demonstrate how to determine whether gifts are business-related, and illustrate proper gift-aggregation and recordkeeping techniques. By taking this course, you will be able to: - Understand FINRA Rule 3220 called Influencing or Rewarding Employees of Others. - Uunderstand the limits and guidelines for gift giving. - Understand the importance of knowing and complying with your firm's policies and procedures for gift giving. - Understand the consequences for violating firm and regulatory requirements for gift giving.
FINRA: Gifts: Institutional Sales Representative Responsibilities (EL-ELC188) (FINRA_BGUISRR_E)
This course presents regulatory requirements and industry compliance practices related to business gifts to help you understand your role as an institutional sales representative in complying with FINRA rules. Brief interactive activities and scenarios demonstrate how to determine whether gifts are business-related, and illustrate proper gift-aggregation and record-keeping techniques.
FINRA: Gifts: Registered Representative Responsibilities (EL-ELC165) (FINRA_BGRR_E)
This course presents regulatory requirements and industry compliance practices related to business gifts to help you understand your role as a registered representative in complying with FINRA rules. Scenarios demonstrate how to determine whether gifts are business-related, and illustrate proper gift-aggregation and recordkeeping techniques. By taking this course, you will be able to: - Understand FINRA Rule 3220 called Influencing or Rewarding Employees of Others. - Uunderstand the limits and guidelines for gift giving. - Understand the importance of knowing and complying with your firm's policies and procedures for gift giving. - Understand the consequences for violating firm and regulatory requirements for gift giving.
FINRA: Gifts: Understanding Compliance Responsibilities (EL-ELC167) (FINRA_BGCS_E)
This course presents regulatory requirements and industry compliance practices related to business gifts to help you understand your role as a member of the compliance staff in complying with FINRA rules. Scenarios demonstrate how to determine whether gifts are business-related, and illustrate proper gift-aggregation and recordkeeping techniques. By taking this course, you will be able to: - Understand FINRA Rule 3220 called Influencing or Rewarding Employees of Others. - Uunderstand the limits and guidelines for gift giving. - Understand the importance of knowing and complying with your firm's policies and procedures for gift giving. - Understand the consequences for violating firm and regulatory requirements for gift giving.
FINRA: Gifts: Understanding Supervisory Responsibilities (EL-ELC166) (FINRA_BGS_E)
This course presents regulatory requirements and industry compliance practices related to business gifts to help you understand your role as a supervisor in complying with FINRA rules. Scenarios demonstrate how to determine whether gifts are business-related, and illustrate proper gift-aggregation and recordkeeping techniques. By taking this course, you will be able to: - Understand FINRA Rule 3220 called Influencing or Rewarding Employees of Others. - Uunderstand the limits and guidelines for gift giving. - Understand the importance of knowing and complying with your firm's policies and procedures for gift giving. - Understand the consequences for violating firm and regulatory requirements for gift giving.
FINRA: Gifts: Understanding Wholesaler Responsibilities (EL-ELC189) (FINRA_BGUWR_E)
This course presents regulatory requirements and industry compliance practices related to business gifts to help you understand your role as a wholesaler in complying with FINRA rules. Brief interactive activities and scenarios demonstrate how to determine whether gifts are business-related, and illustrate proper gift-aggregation and recordkeeping techniques.
FINRA: Insider Trading (EL-ELC157) (FINRA_IT_E)
This course explains insider trading and the consequences of the intentional or inadvertent misuse of material, nonpublic information. Scenarios illustrate typical situations and emphasize the importance of maintaining confidentiality when in possession of material, nonpublic information. This course aims to help you: - Define insider trading and provide examples of material, non-public information. - Increase your awareness of the rules and regulations applicable to insider trading. - Detect and report suspicious activity that could be indicative of insider trading. - Protect yourself and your firm from being involved in insider trading.
FINRA: Insider Trading ? Understanding Your Responsibilities (ELC248) (FINRA_ELC248)
This course highlights specific rules and regulations that prohibit insider trading and provides registered representatives with examples of material, nonpublic information. Participants work through scenarios designed to help them identify possible or actual insider trading by their customers and others, and determine what reporting steps to take. This course aims to help you: - Identify examples of material, nonpublic information. - Describe how and when to report suspicious activity indicative of insider trading. - Explain the potential consequences of failing to report suspicious activity indicative of insider trading.
FINRA: Institutional Trading Regulations (EL-ELC225) (FINRA_ELC225)
This course addresses core regulations related to institutional trading, order handling and recordkeeping. It is designed to help institutional traders and other financial professionals reinforce their understanding of compliance obligations.
FINRA: Municipal Bonds: Regulatory Considerations (EL_ELC231) (FINRA_ELC231)
This course addresses some of the inherent risks associated with municipal bonds. It is designed to help you better understand risks, sales practice issues, and rules and regulations related to these bonds. By taking this course, you will be able to: - Understand some of the regulatory issues involving municipal bonds. - Recognize some of the inherent risks involved with buying, selling and investing in municipal bonds. - Understand the rules and regulations related to municipal bonds.
FINRA: Outside Business Activities (EL-ELC132) (FINRA_OBA_E)
This course covers regulations governing the treatment of outside business activities and reviews factors a registered representative should consider before participating in an outside business activity or conducting a private securities transaction. By taking this course, you will be able to: - Recognize when you are participating in outside business activities. - Adhere to industry regulations and your firm's standards when participating in outside business activities. - Understand the rules and regulations related to outside business activites. - Recognize the consequences of participating in outside business activities without adhering to the rules and regulations.
FINRA: Outside Business Activities for Independent Registered Representatives (EL-ELC 185) (FINRA_OBAIRR_E)
This course covers regulations governing the treatment of outside business activities and reviews factors an independent registered representative should consider before participating in an outside business activity or conducting a private securities transaction. Using real industry scenarios, this course illustrates how regulatory requirements for outside business activities apply to independent registered representatives. By taking this course, you will be able to: - Understand what are considered outside business activities. - Understand the firm and regulatory requirements for registered persons?whether contractors or employees of broker-dealers?involved in outside business activities. - Understand the importance of notifying the firm prior to pursuing outside business activities. - Understand the consequences of violating firm and regulatory requirements for outside business activities.
FINRA: Outside Business Activities for Wholesalers (EL-ELC184) (FINRA_OBAW_E)
This course covers regulations governing the treatment of outside business activities and reviews factors registered wholesalers — who are required to know and follow FINRA rules as well as firm policies and procedures governing outside business activities — should consider before participating in an outside business activity or conducting a private securities transaction.
FINRA: Penny Stock Sales (EL-ELC160) (FINRA_PSS_E)
This course explains the penny stock rules and a registered representative's sales practice obligations when recommending penny stocks. Scenarios reinforce the importance of disclosure and customer-specific suitability determinations. By taking this course, you will be able to: - Explain penny stock rules and issues that registered representatives should consider when dealing with penny stocks transactions. - Understand how penny stocks have been used in fraudulent securities schemes.
FINRA: Privacy Considerations: Conducting Business With Institutional Clients (EL-ELC198) (FINRA_PCCBIC_E)
This course addresses two distinct privacy considerations that institutional sales representatives may encounter in their day-to-day business activities: the importance of protecting private client information and the need to maintain confidentiality when suspicious activity is encountered. Activities and case studies provide opportunities to explore and reinforce how to apply core concepts.
FINRA: Private Placements: Conducting Reasonable Investigations for Regulation D Offerings (EL-ELC186) (FINRA_PPCRI_E)
This course uses case studies adapted from FINRA enforcement actions to illustrate the duty to conduct reasonable investigations concerning Regulation D offerings. It covers the use of private placements as a source of capital and sales practice abuses that can occur with such securities. By taking this course you will be able to: - Recognize your duty to conduct a reasonable investigation concerning Reg D securities and the issuer's representations; - Understand Reg D and the exemptions offered under its rules; - Know the use of private placements as a source of capital; and - Recognize sales practice abuses that can occur with Reg D offerings.
FINRA: Private Securities Transactions (EL-ELC241) (FINRA_ELC241)
This course covers rules and regulations governing the treatment of private securities transactions, and reviews obligations for registered representatives. Scenarios are presented to help registered representatives identify private securities transactions and the appropriate actions to take before engaging in them. By taking this course, you will be able to: - Recognize private securities transactions. - Describe the requirements surrounding participation in private securities transactions. - Identify appropriate actions to take before engaging in private securities transactions. - Explain the difference between private securities transactions and outside business activities. - Discuss the importance of complying with the rules in this area.
FINRA: Real Estate Investment Trusts (REITs): Regulatory Considerations (ELC234) (FINRA_ELC234)
This course is designed to help you better understand risks, sales practice issues, rules and regulations related to Real Estate Investment Trusts (REITs). It addresses some of the features and benefits of these products, as well as the regulatory implications that apply when selling them. By taking this course, you will be able to: - Recognize some of the inherent risks involved with buying, selling and investing in REITs. - Understand some of the regulatory issues involving REITs. - Understand the rules and regulations related to REITs.
FINRA: Retail Branch Office Supervision: Compliance With Regulations (EL-ELC126) (FINRA_RBOS_CWR_E)
Focusing on retail branch offices, this course reviews key supervisory obligations. Participants review topics on the supervision of sales practices and the consequences of failing to adequately supervise.
FINRA: Retail Branch Office Supervision: Understanding Supervisory Responsibilities (EL-ELC127) (FINRA_RBOS_USR_E)
This course covers the regulatory and compliance obligations of retail branch office managers and supervisors. Scenarios address hiring practices, monitoring of sales activity and communications, and delegation — and the consequences of not fulfilling supervisory obligations.
FINRA: Retail Supervision: Sales to Senior Investors (EL-ELC139) (FINRA_RSSSI_E)
This course reviews the supervisory obligations of retail broker/dealers. Participants review scenarios involving suitability analyses and supervisory challenges relating to sales seminars, designations and suitability of products geared toward senior investors.
FINRA: Senior Investor Issues: Diminished Decisional Capacity (EL-ELC158) (FINRA_SIIDDC_E)
This course consolidates the insights and research of leading academic, medical and legal professionals, psychologists and organizations on the topic of diminished decisional capacity. It provides information that registered representatives may find useful for identifying, working with and responding to senior investors or other customers with potential diminished? or diminishing?decisional capacity. By taking this course, you will be able to: - Better understand diminished decisional capacity. - Identify effective practices for working with senior investors. - Recognize possible signs of diminished decisional capacity. - Understand when and how to escalate a potential diminished decisional capacity issue. - Understand risks associated with ignoring possible signs of diminished capacity.
FINRA: Senior Investor Issues: Financial Exploitation (ELC247) (FINRA_ELC247)
This course reminds registered representatives that fulfilling their regulatory obligations can help to protect senior investors from financial exploitation. Participants are presented with scenarios to help them learn how to detect situations or ?red flags? that might indicate a senior client is being financially exploited. By taking this course, you will be able to: - Recognize situations or red flags that might indicate financial exploitation of your senior clients. - Understand when to escalate financial exploitation concerns to the appropriate person or department at your firm. - Describe the potential risks for failing to report suspected financial exploitation.
FINRA: Suitability and Know Your Customer Obligations: FINRA Rules 2111 and 2090 (EL-ELC197) (FINRA_SKYC_E)
This course demonstrates the key requirements of FINRA's suitability and know your customer rules, and specific obligations of firms and associate persons under those rules. By taking this course, you will be able to: - Understand the requirements of FINRA's suitability rule, including considerations when evaluating whether an investment or investment strategy is suitable. - Understand the requirements of the know your customer rule. - Know the specific obligations of a firm and an associated person under the rules.
FINRA: Supervision: FINRA Rules 3110, 3120, 3150 and 3170 (ELC236) (FINRA_ELC236)
This course demonstrates the key requirements of FINRA's supervision rules, and the specific obligations of firms and associated persons under those rules. By taking this course, you will be able to: - Understand the components for a framework of supervision specified by FINRA's supervision rule. - Recognize the basics of a mandatory supervisory control system. - Understand the requirements regarding holding customer mail and tape recording of registered persons by certain firms. - Know the specific obligations of a firm and an associated person under the rules.
FINRA: Supervision: Obligations for Firms with Institutional Clients (EL-ELC116) (FINRA_SUPOB_IC_E)
This course covers the regulatory and compliance obligations of supervisors at firms servicing institutional clients. Scenarios highlight responsibilities of supervisors in various business areas, including trading, institutional sales, proprietary trading and investment banking. Participants review the challenges in hiring and supervising staff, delegation and failure to document, and the consequences of failing to perform supervisory duties.
FINRA: Supervision: Obligations When Monitoring Sales and Trading (EL-ELC202) (FINRA_SUP_OWMST_E)
This course uses case studies adapted from actual disciplinary actions to remind supervisors of their obligations to monitor sales and trading. It helps supervisors better understand the potential consequences of failing to carry out their supervisory responsibilities.
FINRA: Understanding Commodity Futures-Linked Securities (EL-ELC181) (FINRA_COM_FUTURES_E)
This course explains commodity futures-linked securities and the factors that can affect the performance of these products. By taking this course, you will be able to: - Understand commodity futures-linked securities. - Recognize factors that can affect the performance of commodity futures-linked securities.
FINRA: Understanding Retail Structured Products (EL-ELC174) (FINRA_URSP_E)
This course explains the basics of retail structured products as an investment class. It also describes the features of some of their more common forms and related risks associated with them. By taking this course, you will be able to: - Recognize characteristics of retail structured products as an investment type; - Explain basic features of some of the more common forms of retail structured products; and - Describe particular risks associated with retail structured products.
FINRA: Understanding Social Media for Retail Registered Representatives (EL-ELC217) (FINRA_USMRRR_E)
This course helps registered representatives understand the requirements that apply when using social media for business communications with the public. It also shows how regulatory standards apply to the use of social media. This course aims to help you: ? Explain the regulatory requirements related to using social media when conducting firm business. ? Understand that use of social media must adhere to the same content standards as written communications. ? Recognize possible consequences of failing to comply with your firm's policies and FINRA's regulatory requirements related to use of social media.
FINRA: Use of Social Media for Business Purposes (EL-ELC163) (FINRA_USMFB)
This course is designed to help registered representatives and other industry professionals understand how to comply with the regulatory requirements relating to the use of social media, such as stock blog postings, Facebook status updates, "tweets" and more.(EL-ELC163)
FINRA: Variable Annuities: Regulatory Implications (ELC232) (FINRA_ELC232)
This course is designed to help you better understand risks, sales practice issues, rules and regulations related to variable annuities. It addresses some of the features and benefits of these products as well as the regulatory implications that apply when selling them. By taking this course, you will be able to: - Identify the features and benefits of variable annuities. - Understand the rules underlying the regulation of variable annuities. - Understand the sales practice and regulatory implications concerning variable annuities.
FINRA: Variable Annuities: Suitability and Disclosure for New Purchases (EL-ELC113) (FINRA_VASDNP_E)
This course explains variable annuities and the unique suitability factors that must be considered before recommending this complex investment product. Scenarios lead participants through suitability determinations based on a customer's financial situation and investment objectives. By taking this course, you will gain a thorough understanding of issues regarding suitability and disclosure before selling variable annuities. You will understand what questions are useful in determining a client's suitability, under what conditions a sale is appropriate, what features help determine whether or not a client would find a variable annuity beneficial and what disclosures must be made to help the client make the decision. You will be able to help the customer make an informed decision when deciding to purchase variable annuities product.
Fixed Income Securities - Regulatory Issues (CE_FISRI)
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.
Fraud Prevention and Detection (CE_FPD)
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 (CE_GSS)
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.
Gifts and Entertainment (CE_GFT_ENT)
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.
Guide to Protecting Client Information (CE_GPCI)
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.
Hedge Funds (CE_HF)
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.
High-Risk Brokers and the Arbitration Process (CE_HRBAP)
High-Risk Brokers & the Arbitration Process 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, and reveals the techniques used by other securities supervisors to screen candidates and locate those individuals who are more likely to be successful. In addition, supervisory considerations and processes that should be in place when hiring and supervising high-risk brokers are discussed. Lesson 3 outlines the basics of the arbitration rules and how they apply to high-risk brokers and firms in an employment situation.
Hiring Successful Securities Professionals (CE_HSSP)
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.
Identity Theft - FACT Act (CE_IDFACT)
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.
Impact of Market Events on Variable Products (CE_IMEVP)
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
Information Barriers (CE_IB_SR)
This course focuses on information barriers, commonly known as Chinese walls. Information barriers, insiders, and inside information are defined and the elements used in forming barriers are listed. Information Barriers discusses situations when outsiders are allowed access to inside information, and what happens when individuals trade on nonpublic, material information. The course also provides a recent case study involving a professional sports gambler, a pro golfer, and a corporate insider.
Insider Trading (CE_INSIDE_TR)
Insider Trading defines inside information and insiders, and lists ways in which inside information is made public. The current regulatory environment of insider trading is reviewed, as well as the actions taken by regulators to curb illegal activity. Legal insider trading for insiders is also reviewed. Finally, recent cases illustrate that even if not convicted of insider trading, the expense, uncertainty, and potential impact of one's reputation and career makes such conduct a waste of one's talents and energy.
Institutional Communications (CE_IC)
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 (CE_ISRR)
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 (CE_INST_TR)
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 (CE_INT_EOS)
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.
Investment Adviser Basics (CE_IA_B)
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.
Investment Adviser: Ethical Trading Practices (CE_IA_ETP)
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.
Investment Adviser: "Pay-to-Play" Practices (CE_IA_PTP)
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."
Investment Adviser: Conflicts of Interest (CE_IA_COI)
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.
Investment Banking: Introduction (CE_IBI)
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 (CE_IBREG)
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 (CE_IBREGUL)
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 (CE_IPDPPREIT)
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.
IPO Allocations (CE_IPO)
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.
Know Your Customer (CE_KYC)
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.
Managed Accounts (CE_FMA)
Since more investors are turning to managed accounts, it is important for financial services professionals to understand the nuts and bolts of this type of investing. This course provides such an overview of the different types and structures of managed accounts. The licensing requirements and procedures to become an investment adviser are discussed, as well as the necessary elements included in advisory contracts. The forms that investment advisers are required to give to clients and file with regulators are listed, including Form ADV, and the various methods of investment adviser compensation are examined. In addition, managed accounts are compared to mutual funds. This course works well as a companion to the FIRE Solutions Investment Advisers Basics course.
Margin Accounts (CE_MS)
While the use of margin can be complex and confusing, reps who take the time to understand it and educate their clients about its risks and rewards can help them reap big profits. Margin Accounts explains what margin is and gives a brief history of margin. The course explores the differences between long margin and short margin, and provides insight into the process of opening margin accounts, including the account approval process and the risk disclosures that must be provided. The types of securities that can and cannot be traded on margin are listed, and the initial requirements and how much equity clients must maintain in their margin accounts are discussed. We also explore how clients may use SMA, discuss some of the suitability issues surrounding margin, and the use of margin in retirement accounts.
Market Conduct (CE_MC)
This course helps to define actions that should and should not be taken in your daily course of business. We look at the basic principles of fair dealing, rules that affect sales, communications with the public and interactions with clients, and cite case studies that help you to understand how the rules are meant to protect your most valuable asset — your clients. Anyone who has ever searched for guidance in conducting business in the securities industry knows that the regulators have published volumes of rules, interpretive materials (IMs), Notices to Members (NTMs), and Regulatory Notices. After completing this course, you will have a clearer picture of how you can reduce regulatory risks through your own business conduct. NASD and FINRA rules, Interpretive Materials, and Notices to Members are cited throughout this course. The Online Resources section at the end of this course provides you with links to these references so that you may better understand and interpret them as they apply to your firm.
Market Making Rules (CE_MMR)
Market Making Rules describes the role of Nasdaq/over-the-counter (OTC) market makers. It describes the key rules market makers must understand that are specific to handling customer orders — a critical aspect in maintaining investor confidence in the marketplace. Likewise, the course explains the important rules required with day-to-day trading activities to help market makers better serve their customers while avoiding fines and disciplinary actions. Finally, the course discusses the important marketplace changes impacted by SuperMontage.
Mortgage-Backed Securities (CE_MBS)
After completing Mortgage-Backed Securities, you will have a thorough understanding of the risks involved in issuing, selling, and trading mortgage-backed securities. You will be able to follow the path from origination through distribution. In addition, you will learn more about general rules regarding disclosure and the SEC's efforts to enhance disclosure in the mortgage-backed securities market. You will also understand more about the 2008 conservatorship and challenges faced by two key government-sponsored enterprises that have been the largest entities involved in securitizing mortgage loans — Fannie Mae and Freddie Mac.
MSRB Advisors (CE_MSRB_ADVIS)
The SEC and MSRB have developed a new regulatory framework that includes new municipal advisor rules for the sale of municipal securities. MSRB Advisors provides an overview of these new rules and regulations and offers a comprehensive overview of the specific priorities FINRA will be undertaking in its exam priorities. Since some firms do not realize that they are subject to registering as municipal securities professionals, Lesson 1 gives comprehensive descriptions and definitions of municipal securities and the professionals selling them, as well as who is exempt from registration. Lesson 2 delves into the municipal advisor registration process and requirements and also lists the books and records requirements mandated by the 1934 Act. Lesson 3 completes the course with an overview of other SEC and MSRB rules, including the proposed Rule G-42.
MSRB: Fair Dealings and Sales Practices (CE_MSRB_FDSP)
MSRB: Fair Dealing and Sales Practices provides an overview of municipal securities and who deals in them. We look at the rules and regulations that affect municipal securities transactions, as well as some of the sales practices that should be followed. We discuss the limits on gifts, entertainment, and non-cash compensation, as well as limits on political contributions. Finally, we delve in to the different disclosures that issuers, brokers, dealers, and municipal securities dealers must provide to the regulators, the public, and clients.
MSRB: Political Contributions and "Pay-to-Play" Practices (CE_MSRBR_PC)
As a general guideline, political contribution requirements apply to brokers, dealers, municipal securities dealers, municipal finance professionals (MFPs), and political action committees (PACs) controlled by the dealer or any municipal finance professional. In addition, the record keeping and disclosure provisions apply to non-MFP executive officers of the dealer. MSRB: Political Contributions: "Pay-to-Play" Practices provides an overview of the political contribution rules that can prohibit a firm from conducting underwriting activities with municipalities. Upon completion of this course, the student will understand the primary purpose and prohibitions of MSRB Rule G-37, and how it impacts the municipal underwriting process.
Mutual Fund Basics (CE_MFB)
Because mutual funds are complex investments, they have many facets that should be explored before financial services professionals recommend them to their clients. Mutual Fund Basics looks at some of the different aspects of mutual funds — sales requirements, management, share classes, and types of funds. Additionally, the course explores some of the rules and guidelines that are enforced by the regulators, and reminds students to research the specific policies of each fund family. After taking this course, students should have a solid understanding of mutual funds and the tools that are available to help match clients with a suitable mutual fund.
Mutual Fund Classes, Breakpoints, & Switches (CE_MFCBS)
Mutual Fund Classes, Breakpoints, and Switches describes mutual fund share classes, how they differ from one another, and the fees and expenses associated with each so you can better determine the share class that is appropriate for your client. Lesson 2 defines breakpoints and lists ways in which investors may qualify for breakpoints. We also look at the regulators' concerns regarding sales breakpoints and the findings and results of a marketwide investigation in 2002. Lesson 2 ends with a detailed discussion of breakpoint sales, which is a violation of industry rules. The final lesson defines switches and exchanges, and the impact of each on investors. Finally, we look at some real-life case studies involving switching, and the consequences of unsuitable and unauthorized switching.
Mutual Fund Recommendation Analysis (CE_MFRA)
Mutual Fund Recommendation Analysis describes the fundamentals for analyzing mutual funds and how to match a client's objectives, risk tolerance, and time horizons with an appropriate mutual fund. The course discusses how to manage a client's expectations, and introduces various tools and industry terms used in analyzing the funds under consideration.
Mutual Fund Risk and Performance Concepts (CE_MFRPC)
Mutual Fund Risk and Performance Concepts looks at the risks associated with investing and how they relate to mutual funds. The course also provides an overview of the sales charges and expense ratios associated with the different share classes of funds and how they affect the performance of the fund. In Lesson 3, five of the commonly accepted indicators of risk and performance that can be used when analyzing mutual funds are explored.
Mutual Fund Supervision (CE_MFSUP)
Mutual Fund Supervision explains the nuances of supervising mutual fund transactions and the various ways rules are violated. It also explains the actions you can take in response to discovering a violation or innocent oversight of the rules. This course describes the disclosures to be made when recommending a switch from one mutual fund to another and the importance of documenting the justifications for doing so. Also highlighted are the different share classes and the importance of discussing each with clients. The controversies surrounding late and frequent trading are discussed, and how these actions are detrimental to other investors. Finally, the course provides several valuable tools supervisors can use as references when reviewing and approving mutual fund transactions, including:
  • A review and approval checklist
  • A list of red-flag activities that indicate further explanation is needed from the representative
  • A mutual fund suitability characteristics chart
New Products (CE_NP)
In an ever-changing economic environment, representatives continue to seek new ways of providing higher returns and lower risks. Many times that search leads to new products or non-conventional investments. This course outlines the regulatory expectations for approving, selling, and supervising these products; it also describes how to determine what a "new product" is, and provides specific definitions to many popular non-conventional investments. Finally, students learn the suitability factors specific to non-conventional investments. With this knowledge, you can describe the review and approval process and list various questions that need answers during the due diligence phase.
OATS: Nasdaq Trade Reporting (CE_OATSNTR)
This course provides an overview of transaction reporting for auditing purposes. After completing this course, you will be able to describe Order Audit Trail System (OATS) reporting requirements and the rules associated with the OATS system for executing transactions in Nasdaq securities.
Opening New Accounts (CE_ONA)
Opening New Accounts is a basic level course and covers the essentials of gathering required information, making required disclosures, delivery of required notices, and adherence to books and records requirements. This course provides the student with the ability to describe the characteristics of various types of accounts and assign the proper designations. Additionally, the procedures for processing and validating accounts transferred into your firm are explained. The course concludes with interactive exercises to instill the practical application of the lessons learned.
Operations Supervision (CE_OS)
This course provides an overview of regulations involving the operation of a brokerage firm and a supervisor's role in monitoring and evaluating back-office activities. The course reviews detailed aspects of clearing agreements, selling agreements, and ACATS transfers. Finally, it explores FINRA and SEC record-keeping requirements.
Options - Current Regulatory Concerns (CE_OPTIONS)
Options - Current Regulatory Concerns covers options related issues identified by regulators as advisable for Firm Element CE training as well as topics that will be the focus of regulatory exams. The concerns and issues of FINRA, the CBOE, and the OCC are addressed. Since options are a complex and often misunderstood trading tool, regulators have responded with rules that cover virtually every issue concerning options. From determining suitability before an investor even starts using options to enhance his or her portfolio, to providing disclosures once the investor has signed on, to reporting and coding options and closing and exercising, there is a myriad of regulations to follow. This course discusses these regulations and also includes new positions in flex options, and new rules for cabinet trades, while at the same time calling your attention to one of the newer of options --- the Weeklys. In addition, we explain how the random method of choosing the short position option contracts is handled.
Outside Business and Personal Trading Activities (CE_OBPTA)
This course explains the requirements of three rules:
  • FINRA Rule 3270, Outside Business Activities of Registered Persons
  • FINRA Rule 3280, Private Securities Transactions of an Associated Person
  • FINRA Rule 3210, Transactions for or by Associated Persons
Students enrolled in this course will take away a solid understanding of what is required when they work outside their firm, deal in securities for others outside their firm, or invest for their own accounts outside their firm. The course also provides case studies of individuals who failed to adhere to the rules and the disciplinary proceedings brought against them.
Preventing Illegal Resales of Restricted & Unregistered Stocks (CE_PIR)
Where SEC Rule 144 and 144A covers the proper resale of restricted stock, this course illustrates a firm's obligations to detect and investigate abusive practices related to the unregistered resale of restricted stock. This course looks at the types of activities that are considered a "red flag" for suspicious activity that should prompt an investigation. Under SEC Rule 144, firms have specific investigation obligations determining when the firm knows or should have known about suspicious activities. Finally, the adoption of adequate policies, procedures, and supervisory controls help in preventing a firm from unwittingly becoming a participant in the illegal distribution of unregistered and restricted stock into the public markets.
Preventing Sexual Harassment in the Workplace (CE_PSHIW)
Sexual harassment in the workplace is an issue every employer and every employee must address. It is also an issue that is pervasive, yet difficult to define. This course discusses the rules and cases that define sexual harassment, and includes some specific cases to illustrate each definition. Additionally, it describes the different types of sexual harassment as well as the subjective nature of sexual harassment law. The course will help supervisors identify the essential elements of a sexual harassment policy and demonstrate why a comprehensive, written, and universally understood sexual harassment policy is necessary for the workplace. Finally, the course outlines how a sound sexual harassment policy is best followed and enforced when people at all levels of a company are involved, and how it protects a both the individual employee and the employer.
Privacy Protection Rules (CE_PPR)
Privacy Protection Rules detail primary rules and best business practices that all employees of a financial services firm should adhere to in order to maintain the confidence of their clients by protecting their financial information. This course identifies rules outlined under the Gramm-Leach-Bliley Act, the SEC's Regulation S-P, and Regulation S-AM that specifically apply to financial services firms. Details of these rules are discussed and include the process for notifying clients of the firm's privacy policies, how to explain the "opt-out" feature of the privacy rules, and the employee?'role in protecting client information.
Private Placement Securities (CE_PPS)
This course familiarizes you with private placements offered under Regulation D. It describes the three different exemptions that may be used to issue private placements, defines an accredited investor, and looks at factors that should be taken into account when dealing in private placements. Private Placement Securities also delves into the requirements a broker/dealer must fulfill before offering private placements to prospective investors, and how private placements may be marketed. It also provides insight into the private placement memorandum that is delivered to clients in some offerings, and the investment letter that clients are required to sign. Finally, the course looks at some of the current concerns of investors, broker/dealers, and the regulators regarding private placements. NOTE: FIRE Solutions has developed companion courses Private Placements Underwriting and Rule 144, both of which provide further insight into the offering of restricted securities.
Private Placement Underwriting (CE_PPU)
Although underwriting is a complex process, it is also a rewarding one that deserves exploration. By participating in the underwriting process, you can raise much-needed capital that helps small businesses get off the ground or expand. This course breaks down the private placement underwriting process. We first look at what constitutes a private placement and explore Regulation D. "Underwriting" is then described along with some underwriting methods. Finally, we explore the steps involved in underwriting an issue, including the marketing and handling of offering materials.
Public and Private Offerings - Regulatory Concerns (CE_PPORC)
FINRA has recently implemented various rule changes that clarify and outline firm obligations for the distribution of new issues, both public and private. Public and Private Offerings - Regulatory Concerns details these concerns to reduce the risk of improperly offering these securities to public or private investors. The course begins with a review of the SEC sweep results that exposed abuses in broker/dealer self-offerings and discusses the resulting FINRA Rule 5121 - Public Offerings of Securities with Conflicts of Interest. The course then covers the recent changes in Rule 5110, Compensation to Underwriters, and the amended rule to FINRA Rule 5131. FINRA Rule 5141, which seeks to protect the integrity of the fixed price offering process, is also reviewed, as well as the new FINRA Rule 5123 regarding private placements. Finally, this course defines the term "private placement" and describes when a firm is obligated to investigate a private placement issuer.
Registered Representative Obligations (CE_RRO)
FINRA Rule 2111, Suitability, states: "Implicit in all member and associated person relationships with customers and others is the fundamental responsibility for fair dealing." FINRA Rule 2010, Standards of Commercial Honor and Principles of Trade reminds us: "A member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade." Registered Representative Obligations provides Series 6 and Series 7 registered representatives with an overview of their ongoing obligations. This includes the need to maintain their registration status, disclose material information, and remain current with continuing education requirements. The course reminds students of the suitability analyses that must be completed when making recommendations to clients, including the requirements under new FINRA Rule 2111. Students will also review some of the professional standards to be maintained, including the need to act professionally and handle customer accounts in an ethical manner.
Regulation NMS (CE_REGNMS)
Regulation NMS represents a major overhaul of the structure of the securities markets. The basic intent of Regulation NMS is to strengthen and modernize the system by which the equity markets are regulated to ensure that investors receive the best possible execution under current market conditions. This course specifically discusses the rules related to the dissemination and reporting of quotes under Regulation NMS, as well as the anticipated impact of these rules on the exchanges, markets, and electronic communications networks (ECNs). In addition to the rule requirements, this course presents an overview of how NMS provides transparency of last-trade information and how it provides investors with the best possible executions based on current market conditions.
Regulatory Actions Against Firms and Supervisors (CE_RAAFS)
Regulatory Actions Against Firms and Supervisors raises awareness of the FINRA disciplinary process and the degree to which firms and supervisors can be punished for making bad decisions. Lesson 1 reviews the disciplinary process and relevant statistics. The lesson is summarized with a look at the motivating factors behind bad decisions in an effort to redirect the potential for unethical behavior.

Lesson 2 provides an opportunity for firms and supervisors to anticipate what sanctions might be levied for various rule violations.
Regulatory Actions Against Institutional Representatives (CE_RAAIR)
Regulatory Actions Against Institutional Representatives raises awareness of the FINRA disciplinary process, and the degree to which firms and their institutional representatives can be punished for making bad decisions. Lesson 1 reviews the disciplinary process and relevant statistics. The lesson is summarized with a look at the motivating factors behind bad decisions in an effort to redirect the potential for unethical behavior.

Lesson 2 provides an opportunity for institutional representatives to anticipate what sanctions might be levied for various rule violations in real case studies.
Regulatory Actions Against Investment Advisers and Hedge Funds (CE_RAAIAHF)
Regulatory Actions Against Investment Advisers and Hedge Funds raises awareness of the FINRA disciplinary process and the degree to which firms and registered individuals can be punished, by either FINRA or the SEC, for making bad decisions. Lesson 1 reviews the disciplinary process and relevant statistics. The lesson is summarized with a look at the motivating factors behind bad decisions in an effort to redirect the potential for unethical behavior.

Lesson 2 provides an opportunity for IAs, IARs and hedge fund personnel to anticipate what sanctions might be levied for various rule violations.
Regulatory Actions Against Representatives (CE_RAAR)
Regulatory Actions Against Representatives raises awareness of the FINRA disciplinary process, and the degree to which firms and representatives can be punished for making bad decisions. Lesson 1 looks at the factors the regulators take under consideration when determining penalties, and how failing to disclose information often leads to infractions. The lesson is summarized with a look at the motivating factors behind bad decisions in an effort to redirect the potential for unethical behavior.

Lesson 2 provides an opportunity for representatives to anticipate what sanctions might be levied for various rule violations.
Regulatory Actions Against Wholesalers (CE_RAAW)
Regulatory Actions Against Wholesalers raises awareness of the FINRA disciplinary process, and the degree to which wholesalers can be punished for making bad decisions. Wholesalers have a unique position in that they don't make sales to the end investor; rather, they promote their products to the representative who makes the final sale to the end investor. This unique vantage point often raises the question of the degree of responsibility that wholesalers share with their representative counterparts.

Lesson 1 reviews the disciplinary process and some relevant statistical information. The lesson is summarized with a look at the motivating factors behind bad decisions in an effort to redirect the potential for unethical behavior.

Lesson 2 provides an opportunity for wholesalers to anticipate what sanctions might be levied for various rule violations in real case studies.
Research Reports and the Role of Analysts (CE_RRRA)
The role of research analysts and the nature of their research must be objective. Concerns regarding how analysts confer ratings are constantly under scrutiny by regulators; in particular, the research must by impartial and all conflicts of interest must be disclosed. Effective in 2015, FINRA Rule 2241 addresses such concerns with research analyst activities. Further, it explains how the rule retains the core provisions of Rules 2711 and 472 while broadening the obligations of firms to identify and manage research related conflicts of interest. Lastly, the course provides clarity to the applicability of certain provisions of existing rules in order to increase investor protection.
Retirement Plans (CE_RETPLAN)
Retirement Plans describes how various types of retirement plans can be used to help investors save for retirement. The course first discusses the history of retirement funding and the creation of the Employee Retirement and Security Act (ERISA). It then delves into the various retirement plans and current regulatory focus on each, including defined contribution and defined benefit plans, and traditional and Roth IRAs. In addition, the course offers pros and cons that can serve as a guide when an investor is selecting between these types of plans or is considering a rollover. Finally, the course outlines recent Department of Labor regulations regarding ERISA fiduciary status.
Risk-Based Investment Adviser Supervision (CE_RBIAS)
The starting point of a sound compliance program is the assessment of risk factors. This course includes a list of SEC-defined risk categories for IAs that will help to identify high-risk activities at the firm, and prioritize resources to minimize the risk of potential harm to the firm and its clients.

Along with a brief explanation of the regulatory focus for each risk category is a list of specific testing procedures to help flush out any unknown high-risk activities. Some of the testing procedures are designed to be used during a risk assessment, and others are designed to be used as part of daily supervisory duties.
Riskless Principal and Mixed Capacity Trading (CE_RISK)
This course provides the essential information about accepting; processing and reporting riskless principal and mixed capacity trades involving Nasdaq National Market and InterMarket securities. It also provides an overview of why mixed capacity trading has become more prevalent in executing Nasdaq and Intermarket securities trades. This course addresses a rule change.

This regulatory rule change deals with the simplified "Executing Party" reporting structure for OTC security trades.
Roth IRA (CE_ROTHIRA)
This course describes the creation and use of Roth IRAs, as well as how they can be applied to retirement and estate planning for clients. In addition, the course outlines the components that can serve as a guide when an investor is selecting between traditional IRAs and Roth IRAs for new investments or conversions. Finally, scenarios are presented to help you assess real life situations and apply what you have learned from the course material.
Rule 144 (CE_RULE144)
Rule 144 of the Securities Exchange Act of 1933 allows for the public sale of restricted and control securities. This course provides financial services professionals with a solid understanding of the rule to better assist clients who hold restricted or control securities.

The course delves into Rule 144, defining restricted securities, control securities, and affiliates. Additionally, it provides details into the five requirements needed to comply with Rule 144. The seller's representation letter and broker's affidavit that are needed when selling securities under Rule 144 are also explored. The course is wrapped up with a case study of the consequences when trades do not comply with the rule.
Sales Practices for Senior Clients (CE_SALES_PRAC_SR)
This course reviews fraudulent and misleading activities discovered during regulatory examinations initiated by industry regulators and outlined in FINRA's recent "National Senior Investor Initiative Report." Also highlighted are legitimate products and sales practices that can be problematic for seniors, since this group often has unique suitability factors that must be considered. Even firms with the best intentions have received deficiency letters and fines because they demonstrated a lack of sensitivity to senior clients and their unique issues.

Also covered in this course are "free lunch" seminars, the misuse of professional designations, and suitability factors unique to seniors. Lastly, the course outlines how to recognize and what to do when a client displays diminished capacity or elder abuse. A take-away exercise is included to help you clarify your firm's policies and procedures regarding these issues.
Sarbanes-Oxley Act of 2002 (CE_SARB)
The Sarbanes-Oxley Act has had a profound impact on compliance, financial reporting, and the economic foundation of corporate enterprise. This course reviews how the 2002 Act came into existence following the Enron Inc. accounting scandal as well as the Act's original intent. It also covers key provisions in the Act and the additional responsibilities placed on corporate officers, directors, compliance personnel, and auditors. Sarbanes-Oxley added internal controls and new chief executive officer (CEO) certifications that are reviewed. There are also sections covering new SEC regulatory authority and whistleblower "safe harbor" provisions of the Act. Finally, this course outlines the controversial mark-to-market and FAS 157 requirements, and the SEC's interpretation of fair value accounting rules that are tied to the Sarbanes-Oxley Act.
Securities Crowdfunding (CE_SECCROWD)
Adoption of the federal "Jumpstart Our Business Startups" (JOBS) Act has made it possible for small start-up companies to raise needed capital for business expansion while offering average investors the opportunity to invest in emerging companies. This course outlines the SEC Crowdfunding Rules as well as FINRA's Funding Portal Rules, and related regulatory concerns surrounding the offering of shares through crowdfunding. Lesson 1 shows Crowdfunding's niche in the securities registration process, Lesson 2 details the process an issuer must take to crowdfund, while Lesson 3 highlights crowdfunding intermediaries, including funding portals and broker/dealers. A case study illustrates the strong regulatory stance on funding portals.
Securities Valuation and Analysis (CE_SVA)
This course is intended to provide a broad overview of the world of stock valuation and analysis, and discusses how various charts are used to analyze trends in stock prices. The course illustrates fundamental perspectives in valuing a security by using financial statements to calculate trends in a company's strength. Finally, the course outlines how various economic indicators affect price movements in the stock market.
Short Sales and Affirmative Determination (CE_SS)
This course provides an overview of short sales and the essential rules that govern short sales. Lesson 1 begins with a short description of short selling with an example, as well as a brief history of shorting stocks. The circuit breaker rule is then discussed, as are the order marking rules. In addition, the rules governing short sales and market makers, specialists and the exchanges, and Reg M are also discussed.

Lesson 2 highlights the affirmative determination rule and its exceptions, as well as short sale errors. In addition, the course takes a look at loaning stock, mandatory closeouts, short-interest reporting, and naked short selling. The course also includes case studies to illustrate important points.
Small Firm Compliance (CE_SFC)
The first two lessons in this course outline basic compliance issues inherent in all firms. It provides an overview of the responsibilities for creating a compliance system that provides a process to manage a firm's risks and prevent those risks from escalating into violations, fines, and fraud. The first two lessons also detail ways in which effective policies and procedures are used to effectively supervise registered representatives and to help create a culture of compliance.

The last two lessons deal with best practices, challenges, and resources that would be of most interest to small firms, including the limited size and resource exceptions. The regulatory hot spots are revealed as well as the best practices that small firms can use to strengthen their next regulatory examination.
Soliciting New Accounts (CE_SNA)
Soliciting New Accounts provides an overview of the registration requirements that must be met before you can solicit a new account, as well as the rules surrounding telephone solicitations and other methods of communications. The course defines different means of communicating with the public, and provides insight into the review and approval requirements of each. The course also discusses risk tolerance and provides guidance in making recommendations that are suitable for your clients.
Stock Buybacks (CE_SB)
In theory, stock buybacks by corporations tend to increase significantly during a period of market decline. Why? Corporations feel that their stock is cheap. By repurchasing their stock in the open market, corporations are sending a signal that they feel that their stock is undervalued. SEC Rule 10b-18 provides a safe harbor from the securities antifraud provisions for corporations to repurchase their stock, providing the corporations and their broker/dealers comply strictly with the rule, including its manner, timing, pricing, and volume restrictions. This Stock Buybacks course defines what a corporate stock buyback is, and how corporations can use the safe harbor provisions of SEC Rule 10b-18 to limit the liability of antifraud provisions.
Structured Products (CE_SP)
Structured Products sheds some light on the complex and often illiquid structured products that play a vital role in the health of our economy. Structured Products helps students identify the risks involved in these products and consider the issues that are important to regulators.

After studying this course, students will be well-equipped to address the latest regulatory concerns and to educate potential investors about the unique features of structured products, derivatives, and nonconventional investments.
Suitability (CE_SUIT_SUP)
When you make a recommendation as a representative, how do you know that a regulator or arbitrator would agree that it is suitable for that particular client? "Suitable" is a relative term, and when you examine the rules, the requirement is that you have "reasonable grounds" for believing that a recommendation is suitable.

This course looks at the suitability and Know Your Customer rules, helps you determine a client's risk tolerance, and provides you with information about making recommendations. The final lesson looks at different investment products and some of the things you should take into consideration before recommending these products to your clients.
Suitability of Exchange-Traded Products (CE_SUTETP)
While they are relatively new investment products, exchange-traded funds and exchange-traded notes (ETNs) continue to gain in popularity. Suitability of Exchange-Traded Products describes how ETPs are formed and how their suitability issues should be addressed. 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 what happens when registered reps pair their clients with unsuitable investments.
Supervising Associated Persons (CE_SRAP)
This course is designed to provide an overview of the more common supervisory functions required of broker/dealers. As a supervisor, you may be asked to supervise back-office employees, registered reps, or even other supervisors. This course gives a solid basis for understanding what is required of supervisors, and how their actions can protect clients, registered reps, the firm, and themselves. Supervising Associated Persons guides you through making the decision to hire, and the process of bringing associated persons on board with your firm. It also provides you with guidance in supervising the day-to-day activities of associated persons, including understanding some of the more common sales practice problems and exception reports. Lastly, good supervisory practices are discussed, including prohibited practices, special supervision, and ways to protect yourself in a supervisory capacity.
Supervising Senior Accounts (CE_SSA)
As a supervisor, you must be familiar with the regulatory issues surrounding sales practices for senior clients and how to supervise representatives connected with these activities. This course covers supervising communications aimed at senior clients; how to recognize the unique suitability factors related to senior clients; and how to respond to situations where clients show signs of diminished capacity or elderly financial abuse. An exercise is included to help clarify your firm?s policies and procedures regarding these issues.

This course reviews fraudulent and misleading activities discovered during regulatory examinations initiated by the industry's top regulators. Also highlighted are legitimate products and sale practices that can be problematic for seniors.
Supervision and Surveillance (CE_SUPSUR)
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 (CE_SOC)
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 (CE_SETP)
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 (CE_SUPHPRR)
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 (CE_SC)
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 (CE_TTVA)
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 (CE_TAX_IGLI)
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 vs. 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 (CE_TAXPS)
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 vs. 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 (CE_TIC1031)
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 - Equities (CE_TR)
This course explains the reasons why rapid and accurate trade reporting is such a significant objective on behalf of customers and how different factors such as rules, regulations, and the order flow process influence the execution of customer orders.

In addition, the concepts and behaviors of trade reporting are explained as well as the life of a customer order (how an order becomes a trade). Trade reporting rules implemented with the goal of focusing industry attention on best execution are also described.

NOTE: This course covers many different aspects of trade reporting; however, there are no sections dedicated to FINRA's Order Audit Trail System (OATS) for Nasdaq securities or to the Trade Reporting Compliance Engine (TRACE). FIRE Solutions has developed two companion courses - OATS: Trade Reporting and TRACE - dedicated to these topics. Students interested in a more in-depth review of either OATS or TRACE can find a description of these courses in the FIRE Solutions Course Catalog.
Trade Reporting And Compliance Engine (TRACE) (CE_TRACE)
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.
Trading Equities I: Fundamentals and Systems (CE_TE)
Trading Equities I: Fundamentals & Systems introduces the basics of trading in the over-the-counter and listed equity markets. Lesson 1 includes a discussion of key systems, key players and their roles, and the relevant OTC, Nasdaq, and listed securities rules and regulations that apply to both investors and professional traders. The two most prevalent trading systems — SuperMontage and ECNs, are highlighted in Lesson 2.
Trading Equities II: Tools and Trading Language (CE_TE2)
This course introduces registered representatives, prospective traders, financial professionals, and anyone interested in the stock market to the basics of trading in the over-the-counter and listed equity markets. It includes a discussion of trading fundamentals and trading language that apply to both investors and professional traders. This course is not only an invaluable introduction to the equities business but also serves as the first step toward becoming a successful, disciplined, savvy, and profitable stock trader — all while maintaining a firm grasp on the vital rules and regulations that govern the equities trading environment.
Traditional IRAs and Rollovers (CE_IRA)
This course describes the creation and use of traditional IRAs and how they can be applied to your clients' retirement and estate planning. In addition, the course outlines the components that can serve as a guide when an investor is selecting between traditional IRAs and Roth IRAs for new investments, or is considering a rollover. Certain tax implications are discussed, as well as recent regulatory guidelines concerning IRAs and suggestions for ensuring that firms and registered reps are in compliance. Finally, the course outlines recent Department of Labor regulations regarding ERISA Fiduciary status and how they apply to IRAs.
U.S. Government Bonds (CE_USGB)
U.S. Government Bonds describes how the government issues debt securities and how these securities trade in the secondary market.
Variable Annuity Basics (CE_VAB)
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 and the customer's situation and objectives. Since a variable annuity's cash value fluctuates based on the investment options to which contract owners have allocated their premiums, you must be especially careful about how you describe variable annuities to customers. Variable Annuity Basics explains the basic characteristics of variable annuities, the different types of annuities, and how to manage a variable annuity's cash value after purchase. The expenses of a variable annuity are described, as well as both the living and death benefits. The importance of the prospectus is emphasized, along with information about a great selling tool, the free-look provision. The course also describes the risks and costs of variable subaccounts and how to help your clients choose a suitable variable subaccount using a risk-return matrix.
Variable Annuity Sales Practices (CE_VASP)
This course is an intermediate course for representatives who already hold life licenses and are active in annuity sales. The course's lesson on supervision is also appropriate for supervisors and sales representatives. Variable Annuity Sales Practices highlights the suitability requirements that must be considered when recommending a variable annuity to a client. This course outlines best practices to be used in selling variable annuities. It also reviews considerations when selecting optional benefits, allocating premiums to variable subaccounts, meeting retirement needs, and identifying types of clients for whom variable annuities may not be appropriate. Representatives and supervisors should also take away an understanding of the regulatory requirements imposed under FINRA Rule 2330.
Wholesaler Communications (CE_WC)
Wholesaler Communications provides an overview of wholesaler roles and how wholesalers communicate with clients and registered representatives. Wholesalers have the responsibility to understand regulatory rules regarding communications, since the information they provide to registered reps must be in compliance with these rules. The course also discusses the rules and related review and approval processes regarding these forms of communication.

Additionally, the course delves into the supervision required for the different types of communications, and lists the standards of communication as set by the regulators. Lesson 4 also provides real-life case studies to underscore the importance of following the regulators' communication and supervisory rules.
Wholesaler Responsibilities (CE_WR)
This course provides an overview of wholesaler roles, and how wholesalers help registered reps perform their jobs. We look at the different means of communicating with the public and the regulatory requirements surrounding each. The rules and regulations that affect giving gifts and providing entertainment are also highlighted. In the final lesson, we look at activities that should be avoided and what can happen when a wholesaler doesn't play by the rules.
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Insurance CE

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Exam Preparation

Series 6: Investment Company Products - Variable Contracts Limited Representative   $200.00
The Series 6 exam - the Investment Company and Variable Contracts Products Representative Qualification Examination (IR) - evaluates an entry-level representative's proficiency to perform duties as an investment company and variable contracts products representative. This exam comprises 100 scored questions with an additional 5 unscored "pretest" questions. Applicants have two-hours and 15-minutes to complete the exam. The passing score is 70%.
Add printed copy of online lessons $70.00
Series 7: General Securities Representative   $410.00
The Series 7 exam - the General Securities Representative Qualification Examination (GS) - evaluates an entry-level registered representative's proficiency to perform duties as a general securities representative. This exam comprises 250 scored questions with an additional 10 unscored "pretest" questions. Applicants have six-hours to complete the exam - conducted in two three-hour sessions comprising 130 questions per session. The passing score is 72%. The Series 66 or 63 and 65 exam(s) typically follow this exam.
Add printed copy of online lessons $150.00
Series 9: General Securities Sales Supervisor   $200.00
The Series 9 exam — the General Securities Sales Supervisor Qualification Examination — evaluates a registered representative's proficiency and knowledge of securities industry rules and particular statutory provisions applicable to supervising sales activities of options at a branch office.

This exam comprises 55 scored questions with an additional five unscored "pretest" questions. Applicants have one-hour and 30-minutes to complete the exam. The passing score is 70%.

The Series 7 (or foreign equivalent) is a prerequisite for this examination. The Series 7 licensed representative must be associated with and sponsored by a FINRA member firm for eligibility to take the Series 9 exam. Along with the Series 10, the Series 9 exam is required to qualify for the Series 8 branch office manager (BOM) supervising principal license. Either exam may be taken first; the sequence does not matter.
Add printed copy of online lessons $30.00
Series 10: General Securities Sales Supervisor   $315.00
This exam comprises 145-scored questions with an additional 10-unscored "pretest" questions. Eligible representatives have 4-hours to complete the exam with a passing score of 70%. The Series 7 (or foreign equivalent) is a prerequisite for this examination. The Series 7 licensed representative must be associated with and sponsored by a FINRA member firm for eligibility to take the Series 10 or 9 exams. Along with the Series 9, the Series 10 exam is required to qualify for the Series 8 branch manager license. Either exam may be taken first, sequence does not matter
Add printed copy of online lessons $50.00
Series 24: General Securities Principal   $390.00
The exam measures the degree to which each candidate possesses the knowledge needed to perform the critical functions of a general securities principal, including the rules and statutory provisions applicable to the supervisory management of a general securities broker-dealer. The Series 24 consists of 150 scored questions and an additional 10 unscored pretest questions. Candidates are given three hours and 45 minutes to complete the exam. The passing score is 70 percent.
Add printed copy of online lessons $70.00
Series 63: Uniform Securities Agent State Law Examination   $105.00
The Series 63 exam - the Uniform Securities Agent State Law - developed by NASAA and administered for NASAA by FINRA, evaluates an entry-level registered representative's proficiency in understanding the principles of state securities regulations reflected in the Uniform Securities Act with NASAA rule amendments prohibiting dishonest and unethical business practices. The exam provides state securities administrators a basis to evaluate an applicant's knowledge and understanding of state law and regulations. This exam is comprised of 60 scored questions and 5 unscored "pretest" questions. Applicants have one-hour and 15-minutes to complete the exam. The passing score is 72%. The Series 63 does not have any prerequisites and can be taken without being sponsored by a FINRA member firm. However, to transact securities business, an individual must also take and pass the Series 6 or Series 7 and be associated with and sponsored by a FINRA member firm.
Add printed copy of online lessons $30.00
Series 65: Uniform Investment Adviser Law Examination   $210.00
The Series 65 exam - the Uniform Investment Adviser Law - developed by NASAA and administered for NASAA by FINRA, evaluates an entry-level proficiency to provide investment advice to clients and in understanding the principles of state securities regulations reflected in the Uniform Securities Act with NASAA rule amendments prohibiting dishonest and unethical business practices. The exam provides state securities administrators with a basis to evaluate an applicant's knowledge and understanding of state law and regulations. This exam comprises 130 scored questions and 10 unscored "pretest" questions. Applicants have three-hours to complete the exam. The passing score is 72%.
Add printed copy of online lessons $100.00
Series 66: Uniform Combined State Law Examination   $200.00
The Series 66 exam - the Uniform Combined State Law - developed by NASAA and administered for NASAA by FINRA, evaluates entry-level proficiency to provide investment advice and effect securities transactions for clients, as well as understanding the principles of state securities regulations reflected in the Uniform Securities Act with NASAA rule amendments prohibiting dishonest and unethical business practices. The exam provides state securities administrators with a basis to evaluate an applicant's knowledge and understanding of state law and regulations. This exam comprises 100 scored questions and 10 unscored "pretest" questions. Applicants have two-hours and 30-minutes to complete the exam. The passing score is 73%. The Series 7 is a co-requisite for this examination but either exam can be taken first and the Series 66 does not require FINRA member firm sponsorship. The Series 7 licensed representative, however, must be associated with and sponsored by a FINRA member firm.
Add printed copy of online lessons $55.00

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