The end of Summer also means that school is just around the corner! And while many of your kids have been filling their backpacks with colorful folders and notebooks, we’re packing a different sort of bag here at Quest CE — one filled with tips on what training courses to offer your broker-dealers this year.
To help with your decision-making process, we’ve rounded up our “Top 10” bestselling Firm Element courses from the year, thus far. As always, prior to implementing your training program, firms should consider their size, structure and scope of business, as well as any regulatory developments. Courses outlined in this article are not to be taken as recommendations. *
*A comprehensive Needs Analysis is required.
1.) Annual AML Update: COVID-19 Risks, Legislative Updates, and Enforcement Actions
Course Code: 15475
A course covering recent AML updates and enforcement actions would not be complete without understanding the overwhelming impact of the COVID-19 pandemic. This course weaves together COVID-19 related money laundering examples, with enforcement actions, AML trends, and U.S. Legislation directed at improving AML efforts.
2.) Reg BI Compliance for Broker Dealer Representatives and Principals
Course Code: 15607
This course provides an overview of Regulation Best Interest (Reg BI) to registered representatives and principals of FINRA member broker-dealers. It closely reviews the text of the rule that applies directly to the obligations of the registered representatives and principals who supervise the activity that falls under Reg BI. Upon completion of this course, individuals should be able to identify the many components of Reg BI, describe when Reg BI is applicable, and understand what registered representatives must do to comply with each provision of Reg BI.
3.) Regulation Best Interest (Reg BI) and Associated Materials
Course Code: 11662
This course is designed to help broker-dealers and financial advisors understand how to comply with the requirements of this new regulation. Notable concepts discussed throughout the course include Reg BI compliance objectives, Form CRS and the investment advisor interpretation. The course will cover each of these rules in depth and includes potential scenarios that one could encounter.
4.) Ethics and Professional Conduct
Course Code: 9857
This course is intended for registered representatives, investment advisers, compliance staff and supervisors that work with retail investors. This course covers some of the basics of ethics and offers a glance at past legislation that has brought us to where we are today. By also outlining the responsibilities of each professional, this course sheds light on why it is imperative that all members of any profession maintain and adhere to professional ethical standards.
5.) Conducting Business in a Pandemic: BCP and Regulatory Guidance
Course Code: 15391
What happens when disaster impacts every single broker-dealer and regulator at the same time? How can we respond, pivot, and ensure business goes on? This course covers the Business Continuity Plan requirements for U.S.-based broker-dealers and the regulatory response from FINRA to the COVID-19 crisis in 2020.
6.) Cybersecurity & FINRA
Course Code: 9907
This course examines various targets and types of cyber-attacks, their threat to the financial industry, disclosure requirements for FINRA registered firms, regulatory measures to prevent cyber-crimes and practical steps toward cybersecurity. It also discusses recent FINRA guidance, including the presence of cybersecurity in the Regulatory and Examinations Priorities Letter, the Report on Cybersecurity Practices, and Investor Alerts warning investors about cyber-threats. Practical advice for representatives on steps to reduce risk will be discussed, as well as the consequences to firms for failing to protect against cybersecurity threats.
7.) Anti-Money Laundering and the Red Flag Rule
Course Code: 10684
The objective of this course is to raise the awareness of anti-money laundering regulations so that representatives have the knowledge to prevent and detect money laundering. This knowledge will help ensure that each representative and their employer do not become involved in investigations or scandals that could harm the company’s reputation or risk client relationships. After completing this course, representatives will have a better understanding of anti-money laundering regulations, including the Know Your Customer rule, as well as be able to better recognize suspicious activities to protect themselves from the consequences of being linked in any way to money-laundering activities.
8.) Anti-Money Laundering for Agents and Representatives: Overview, Detection and Prevention
Course Code: 9881
This course is intended for any financial service industry professional needing a basic understanding of industry rules regarding anti-money laundering, and how firms detect and prevent possible money laundering. Concepts discussed include, but are not limited to, the CDD Rule, the stages of money laundering, federal AML measures and agent/broker responsibilities.
9.) Anti-Money Laundering for Broker-Dealers
Course Code: 9892
This course is intended for any financial service industry professional interested in learning about industry rules regarding anti-money laundering rules and regulations. The objective of this course is to introduce broker-dealer employees to the federal laws and regulations that apply to money laundering, record keeping, and reporting. The course discusses some “red flags” that may indicate potential money laundering activities, as well as the penalties that can be imposed for violating federal money laundering laws.
10.) Anti-Money Laundering Compliance Obligations for Retail Representatives
Course Code: 9950
The objective of this course is to shed light on today’s anti-money laundering rules and regulations so that learners are able recognize those warning signs and take the correct steps for addressing the questionable issues. Concepts discussed in this course include the stages of the money laundering process, the development of AML regulations in the U.S., Customer Identification Program requirements, and suspicious activities and red flags that could indicate money laundering activity.
