Investment Operations

Broker-Dealer Compliance Fundamentals

Categories Compliance, Introductory

Course Instructor

Course Level

Beginner

Certification

Certificate

Delivery

Via Zoom

Hours (EST)

9:00 am - 1:00 pm​

Description

Date: TBD

The Broker-Dealer Compliance Fundamentals virtual course will help attendees understand how broker-dealers are formed, structured, and operated and the regulatory requirements they are subject to from the SEC and FINRA and the evolving landscape of the industry. The course will cover the following topics:

  • The basics of broker-dealer registration requirements
  • Licensing and registration requirements for associated persons of broker-dealers
  • The various types of broker-dealers
  • SRO membership requirements
  • Membership in multiple SROs
  • The federal securities laws and SRO rules governing broker-dealers
  • Overview of various types of business models
  • Financial and operational rules
  • Supervisory and internal controls.
  • Sales practice rules
  • Disciplinary Process

Who Should Attend

The Broker-Dealer Compliance Fundamentals course is geared toward an entrepreneur considering establishing a new brokerage firm, someone aspiring to work in the securities industry, career transitioning to this industry, an owner of a private company considering tapping the capital markets, a new compliance or technology professional, or just someone who wants to broaden its expertise on these critical regulatory requirements trends. It is not aimed at financial engineers looking for hedging and trading strategies, but for those professionals seeking to expand their knowledge with insights and practical guidance, such as attorneys, operations personnel, and new entrants to the industry.

Prerequisite: None

Day 1

Organizing a Broker Dealer

  1. Registration Process
  2. Form BD
  3. Finra membership agreement
  4. Who must register
  5. Exemptions
  6. Supervision requirements
  7. Examinations
  8. New regulatory initiatives
  9. State regulatory considerations

Clearing vs. Non-Clearing Firms

  1. Differences
  2. Responsibilities
  3. Disclosures
  4. Documentation
  5. Fully disclosed vs. omnibus arrangements

Transactional Analyses

  1. Margin
  2. Short sales
  3. Transfer
  4. Customer vs. proprietary activities

Books and Records

  1. Financial
  2. Operational-Stock Record

Key Players and their Responsibilities

  1. Registered representatives
  2. Supervisors
  3. Exam requirements
  4. Compliance officers and roles
  5. Third-party vendors
  6. SEC, FINRA and the MSRB

Day 2

Responsibilities to Customers

  1. Suitability
  2. Fiduciary issues
  3. Handling Customer Assets
  4. Sales practices

Financial and Operational Rules

  1. The Uniform Net Capital Rule
  2. The Customer Protection Rules
  3. Required regulatory filings-FOCUS reports and others
  4. AML responsibilities
  5. Written Supervisory Procedures (WSPs)
  6. Contingency planning and business continuity
  7. Outside business activities

Coordination Among the Securities Laws

  1. 1933 Securities Act
  2. 1934 Securities Exchange Act
  3. 1940 Investment Advisers Act
  4. 1940 Investment Company Act

Summary & Questions

In-House Training

Custom Training can help you achieve your corporate training goals while staying on budget and focusing the content on the needs of your group. Email your questions regarding corporate training to training@investmentoperations.net.

2024 Training Calendar

Training Catalogue

Course Instructor

Course Level

Beginner

Certification

Certificate

Delivery

Via Zoom

Hours (EST)

9:00 am - 1:00 pm​

Description

Date: TBD

The Broker-Dealer Compliance Fundamentals virtual course will help attendees understand how broker-dealers are formed, structured, and operated and the regulatory requirements they are subject to from the SEC and FINRA and the evolving landscape of the industry. The course will cover the following topics:

  • The basics of broker-dealer registration requirements
  • Licensing and registration requirements for associated persons of broker-dealers
  • The various types of broker-dealers
  • SRO membership requirements
  • Membership in multiple SROs
  • The federal securities laws and SRO rules governing broker-dealers
  • Overview of various types of business models
  • Financial and operational rules
  • Supervisory and internal controls.
  • Sales practice rules
  • Disciplinary Process

Who Should Attend

The Broker-Dealer Compliance Fundamentals course is geared toward an entrepreneur considering establishing a new brokerage firm, someone aspiring to work in the securities industry, career transitioning to this industry, an owner of a private company considering tapping the capital markets, a new compliance or technology professional, or just someone who wants to broaden its expertise on these critical regulatory requirements trends. It is not aimed at financial engineers looking for hedging and trading strategies, but for those professionals seeking to expand their knowledge with insights and practical guidance, such as attorneys, operations personnel, and new entrants to the industry.

Prerequisite: None

Day 1

Organizing a Broker Dealer

  1. Registration Process
  2. Form BD
  3. Finra membership agreement
  4. Who must register
  5. Exemptions
  6. Supervision requirements
  7. Examinations
  8. New regulatory initiatives
  9. State regulatory considerations

Clearing vs. Non-Clearing Firms

  1. Differences
  2. Responsibilities
  3. Disclosures
  4. Documentation
  5. Fully disclosed vs. omnibus arrangements

Transactional Analyses

  1. Margin
  2. Short sales
  3. Transfer
  4. Customer vs. proprietary activities

Books and Records

  1. Financial
  2. Operational-Stock Record

Key Players and their Responsibilities

  1. Registered representatives
  2. Supervisors
  3. Exam requirements
  4. Compliance officers and roles
  5. Third-party vendors
  6. SEC, FINRA and the MSRB

Day 2

Responsibilities to Customers

  1. Suitability
  2. Fiduciary issues
  3. Handling Customer Assets
  4. Sales practices

Financial and Operational Rules

  1. The Uniform Net Capital Rule
  2. The Customer Protection Rules
  3. Required regulatory filings-FOCUS reports and others
  4. AML responsibilities
  5. Written Supervisory Procedures (WSPs)
  6. Contingency planning and business continuity
  7. Outside business activities

Coordination Among the Securities Laws

  1. 1933 Securities Act
  2. 1934 Securities Exchange Act
  3. 1940 Investment Advisers Act
  4. 1940 Investment Company Act

Summary & Questions

In-House Training

Custom Training can help you achieve your corporate training goals while staying on budget and focusing the content on the needs of your group. Email your questions regarding corporate training to training@investmentoperations.net.

2024 Training Calendar

Training Catalogue

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