With the recent publication of the SEC and FINRA examination priorities letters, now would be a great time to assess which areas of risk your firm avoids, and which areas may require additional attention in 2020. To help you get a jump start on planning your compliance training calendar for the year, we’ve identified eight fan-favorite courses from our catalog that correlate with the areas of risk identified in this year’s letters.
As always, we want to remind firms that they should consider their size, structure, and scope of business, as well as any regulatory developments before implementing their Firm Element program. Courses outlined in this article are not to be taken as recommendations. A comprehensive Needs Analysis is required.
Regulation Best Interest (Reg BI) And Associated Materials
Course ID: 11662
Number of Slides: 39
Est. Time of Completion: 30 Minutes
Version: Interactive
Description: On June 5, 2019 the SEC approved a package of new rules and interpretations designed to improve transparency for retail investors. Included in this package are Regulation Best Interest (Reg BI), New Form CRS Relationship Summary (Form CRS), the Investment Adviser Interpretation, and a Solely Incidental Interpretation. This course will cover each of these rules in depth along with potential scenarios that one could encounter.
FINRA Exam Priority: Sales Practice & Supervision – Regulation Best Interest (Reg BI) and Form CRS
Information Security: Protecting You, Your Clients And Your Firm
Course ID: 10053
Number of Slides: 24
Est. Time of Completion: 16 Minutes
Version: Interactive
Description: The main objective of this course is to educate representatives on the importance of protecting client information. The course is designed to help registered representatives and supervisors understand procedures for protecting confidential personal customer information and detect possible breaches in information security. Additionally, the course provides recommendations on what to do if customer information is compromised as well as the necessary steps to take to better protect this information.
SEC Exam Priority: Information Security
Electronic Communications For Institutional Clients
Course ID: 12061
Number of Slides: 41
Est. Time of Completion: 32 Minutes
Version: Interactive
Description: This course is intended for institutional representatives, investment advisors, supervisors or any financial service industry professional interested in learning how industry rules apply to the use and supervision of electronic communications. This course is designed to fulfill training requirements recommended by FINRA for those firms who allow their representatives to use electronic media to communicate their “business as such.” FINRA recognizes that these emerging platforms are useful tools for communicating with clients in the financial services industry. In turn, firms must recognize the regulatory concerns and address these supervisory challenges in order to allow and monitor this type of communication.
FINRA Exam Priority: Sales Practice & Supervision – Communications with the Public
Compliance Safety Measures When Working With Senior Investors
Course ID: 9891
Number of Slides: 42
Est. Time of Completion: 20 Minutes
Version: Interactive
Description: As in years past, FINRA and the SEC will continue to be on the lookout for senior investor abuse when conducting examinations. With that in mind, this course is designed to discusses the unique needs of senior investors, steps advisors should take when working with this growing demographic, and the serious implications of FINRA and the SEC’s recent influx of disciplinary actions and investor alerts.
SEC Exam Priority: Retail Investors, Including Seniors and Individuals Saving for Retirement
Best Execution And Debt Mark Ups
Course ID:10409
Number of Slides: 52
Est. Time of Completion: 450 Minutes
Version: Interactive
Description: This course is intended for registered representatives acting in an agent (broker) capacity, as well as individuals who work as dealers, such as market maker specialists and supervisors. Best execution is an obligation of any dealer working to execute transactions on behalf of their clients. Closely related to best execution in the debt markets are the mark-ups or mark-downs that dealers take in the course of performing a transaction. This course will explore both topics. Additionally, it will discuss how market prices and appropriate debt mark-ups/mark-down are determined as well as illustrating how FINRA obligations for best execution are to be applied and demonstrated through regular and rigorous reviews of transactions against both FINRA rules and each member firms established policies and procedures.
FINRA Exam Priority: Market Integrity – Best Execution
Cybersecurity: Phishing
Course ID: 9756
Number of Slides: 22
Est. Time of Completion: 20 Minutes
Version: Interactive
Description: As firms increase reliance on technology to conduct their operations, the risks to firms associated with cybersecurity continue to increase. This course provides representatives with background knowledge of cybersecurity risks and best practices, including phishing tactics, vendor management controls, information sharing and much more.
FINRA Exam Priority: Firm Operations: Cybersecurity
Anti-Money Laundering: Beneficial Ownership
Course ID: 10712
Number of Slides: 32
Est. Time of Completion: 20 Minutes
Version: Interactive
Description: This course reviews the customer due diligence (CDD) regulations that have been set by organizations developed to combat criminal use of financial systems around the world. Additionally, the course focuses on the most recent regulations adopted by the U.S. Treasury.
SEC Exam Priority: AML Programs
Advanced Look At Mutual Funds
Course ID: 10998
Number of Slides: 110
Est. Time of Completion: 61 Minutes
Version: Interactive
Description: This course is intended for registered representatives, investment advisors, institutional representatives, traders, analysts and supervisors who have a well-rounded background in the issuance, distribution and risk-analysis of conventional securities. Those taking this course should already have an intermediate understanding of the securities markets. This course will cover the topic of mutual funds, beginning with basic features, characteristics and benefits. The course will wrap-up by discussing tax considerations, breakpoint abuse and asset allocation.
SEC Exam Priority: RIAs and Investment Companies
