School is in session! 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, below we’ve rounded up our “Top 10” bestselling Firm Element courses from 2020.
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.
Regulation Best Interest (Reg BI) and Associated Materials (FE INT)
Description: 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.
Cybersecurity: Phishing (FE INT)
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.
Annual AML Update: Review of Regulatory Guidance and Enforcement (FE INT)
Description: This course will review recent Anti-Money Laundering developments including regulatory guidance from the securities and banking industries, FATF cryptocurrency guidance, enforcement actions, a new FINCEN department and several case studies including the Danske Bank AML case and the US’ Mueller report. By the end of the course, students will have a better front-end understanding of the of the regulatory environment and how money laundering is detected and prosecuted in modern cases.
Security Best Practices for Remote Workers Amid COVID-19 (FE INT)
Description: This course discusses the importance of security when working remotely and highlights some simple techniques that employees can employ to protect themselves while working from home. Additionally, we’ll discuss the recent influx of phishing emails that have flooded inboxes since the COVID-19 outbreak and tips to avoid falling victim to a hazardous attack.
Anti-Money Laundering for Home Office Personnel – Vol. 2 (FE INT)
Description: This course is intended for home office personnel, retail representatives, investment advisors, supervisors or any financial service industry professional interested in learning more about the industry rules and regulations regarding anti-money laundering. The objective of this course is to introduce home office employees to the federal laws and regulations that apply to money laundering, record keeping and reporting.
Cybersecurity & FINRA (FE INT
Description: 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.
Fixed and Variable Annuities vs. Mutual Funds (FE INT)
Description: This course is intended for retail representatives, institutional representatives, investment advisors supervisors or any financial service industry professional that works with clients that purchase the aforementioned products. This course compares and contrasts fixed annuities, variable annuities and mutual funds. It describes each type of product and reasons why people buy them. The course also offers an in-depth analysis of variable annuities and mutual funds, including advantages of each and a comparison of performance.
Anti-Money Laundering and the Red Flag Rule (FE INT)
Description: This course is designed for registered representatives, supervisors, and institutional sales representatives. 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.
Suitability for Retail Representatives (FE INT)
Description: This course is designed for Registered Representatives who deal primarily with Retail clients, their supervisory principals, and other compliance officers and staff. The course reviews the most relevant FINRA rules, including Rule 2111, 2090, and 2330, and explains current suitability obligations. It then gives an overview of relevant issues that FINRA focuses on when examining member firms, the results of recent exams, and several examples of enforcement actions taken by FINRA in the last quarter of 2019. The course then gives an overview of Regulation Best Interest (Reg BI), and shows how implementation in June of 2020 will change the concept of suitability and introduce a whole new set of regulatory requirements for Broker-Dealers and their Reps.
A Professionals Guide to Ethical Decision Making (FE INT)
Description: This course provides representatives with an overview of the characteristics of ethics and professionalism. This course discusses the standards by which a professional should be judged and a study of ethics on its philosophical and compliance levels. The objective of this course is to provide participants with a reasoned analysis of the connection between professionalism and ethical practices.