Supervision of retail communication

  • September 12, 2020

In this article we are going to review a significant amount of information relating to the supervision of retail communications.  As you prepare to take your principal level exam, you  will want to make sure that you have mastered these topics. This information has been taken directly from our textbooks, video lectures and feedback from […]

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Series 24 Exam Best Practices

  • April 16, 2020

For more than 20 years the Securities Institute has been helping people pass the series 24 exam. In this article we are going to provide you with a comprehensive understanding of how the series 24 exam is designed to test your knowledge. We will also provide you with feedback from test-takers who have detailed their […]

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All About CMOs

  • April 9, 2020

In this article we are going to review a number of the different types of CMOs you are likely to be tested on, on your exam.  Many FINRA exams have a number of questions relating to collateralized mortgage obligations. Some of the questions will be definitional in nature. Some of the questions will require you […]

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Private Placements and Bad Actors

  • April 7, 2020

More and more questions are popping up on FINRA Exams concerning disqualifying events which prohibit certain bad actors from participating in private placement offerings. With the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act,  certain “bad actors” are precluded from participating in offerings under Regulation 506. If any covered person has been […]

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SEC customer classification

  • March 26, 2020

The SEC requires broker dealers to adhere to strict financial responsibility rules. These rules include the customer protection rule 15c3-3 and the net capital rule 15c3-1. The net capital rules have always been part of the Securities Exchange Act of 1934 and require broker-dealers to maintain a minimum level of financial solvency.  The more complex […]

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Outside Business Activities And Private Securities Transactions

  • March 25, 2020

In this article we are going to provide you with a comprehensive review regarding the outside business activities of associated persons and private Securities transactions.  Both of these topics are hot buttons for FINRA and are not only widely tested on their exams, but are also closely scrutinized during compliance examinations by FINRA staff members.  […]

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Broker-dealer AML audit requirements

  • March 25, 2020

All broker-dealers must conduct an independent audit of their anti money laundering program prior to the end of each year.  To assist you in avoiding common mistakes and oversights that could become comments in your next AML Testing report, please review the following list of common findings identified during AML testing and recommendations on how […]

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FINRA Test Prep – Supervision of Social Media

  • January 23, 2020

In this article we are going to examine some of the complex issues that can arise when registered representatives use social media for business purposes. In addition to the requirements for registered Representatives who use social media we will look at  some of the compliance responsibilities for the employing broker-dealer. The use of social media […]

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FINRA Exam Prep – The Role of the Broker Dealer

  • January 18, 2020

In this article we are going to take a look at the role of broker-dealers who operate in the NASDAQ environment.  If I were to ask you where NASDAQ is, it would be much the same as me asking you where is the internet– it’s nowhere and it’s everywhere. It’s a computer network throughout the […]

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Series 24 Test tip Member offerings

  • December 6, 2018

Offering of Securities by FINRA Members When a FINRA member firm wishes to raise money by offering securities for sale to investors special rules apply to the offering. When a FINRA member firm goes public it may not underwrite its own securities. The member wishing to go public must engage the services of a qualified […]

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