Major changes in broker-dealer regulation and the industry have come about as a result of the financial services crisis and the resulting regulatory reform. At the same time, FINRA’s overhaul of its rulebook as part of its Rulebook Consolidation process is almost complete. This program will provide you with a solid foundation in the regulatory regime applying to broker-dealers, including what to expect next regarding broker-dealer regulation. You will learn how the Securities Exchange Act of 1934, FINRA rules and state securities laws interact in governing the brokerage industry.
You will also learn about recent regulatory enforcement activity by the SEC, FINRA, and the States and about how broker-dealers are responding to these developments and the challenges ahead for the industry.
A distinguished faculty will offer insights into recent rulemaking that is having far-reaching impact on the day-to-day operations of firms.
Lecture Topics [Total time 06:31:44]
Segments with an asterisk (*) are available only with the purchase of the entire program.
- Overview of Program; Who is a Broker-Dealer? [01:01:19]
Robert L.D. Colby, Joanne C. Rutkowski
- Broker-Dealer Registration and FINRA Membership [00:59:04]
Clifford E. Kirsch, Allison Reid
- Regulatory Jurisdiction [01:02:06]
G. Philip Rutledge, Stephen Luparello
- The Customer Relationship [01:02:21]
Clifford E. Kirsch, Susan S. Krawczyk
- Supervision and Compliance Programs (Legal Ethics) [01:13:43]
Clifford E. Kirsch, Doria G. Bachenheimer, Debra A. Roth, Mark J. Happe
- Financial Responsibility, Recordkeeping, and Exams [01:13:11]
John R. Hewitt, Chris Salter
The purchase price of this Web Program includes the following articles from the Course Handbook available online:
- What is a Broker-Dealer? (August 1, 2012)
Lanny A Schwartz, Robert L.D. Colby
- Broker-Dealer Registration and Membership; Registration of Associated Person
Clifford E. Kirsch
- U.S. Securities and Exchange Commission, Division of Trading and Markets: Guide to Broker-Dealer Registration (April 2008)
Clifford E. Kirsch
- State Registration of Broker-Dealers
G. Philip Rutledge
- Broker-Dealer Regulatory Oversight: SEC and SROs
Stephen Luparello
- Redefining the Retail Relationship: The Emerging Regulatory Framework Governing Suitability, the Standard of Care and Disclosure (June 24, 2013)
Clifford E. Kirsch, Issa J. Hanna
- The Customer Relationship (April 1, 2013)
Susan S. Krawczyk
- Practical Considerations Regarding the Establishment and Maintenance of the Broker-Dealer Supervisory Framework (June 24, 2013)
Clifford E. Kirsch, Issa J. Hanna
- Legal/Compliance Officer Liability for Duty to Supervise
Clifford E. Kirsch
- Practical Compliance Considerations Regarding FINRA’s Requirement to Report Internal Conclusions of Violations
Clifford E. Kirsch, Issa J. Hanna
- Record-Keeping (August 6, 2012)
John R. Hewitt
- Outline for SEC and FINRA Examination Programs
John R. Hewitt
- Overview of the Broker-Dealer Financial Responsibility Rules (PowerPoint Slides)
Christopher M. Salter
Presentation Material
- Broker-Dealer Registration and FINRA Membership
Allison Reid
- Regulatory Jurisdiction
G. Philip Rutledge
- The Customer Relationship
Clifford E. Kirsch, Susan S. Krawczyk
- Supervision and Compliance Programs (Legal Ethics)
Clifford E. Kirsch, Doria G. Bachenheimer, Debra A. Roth, Mark J. Happe
- Financial Responsibility, Recordkeeping and Exams
John R. Hewitt
- Financial Responsibility, Recordkeeping and Exams
John R. Hewitt
- Financial Responsibility, Record Keeping and Exams
Chris Salter
PLI makes every effort to accredit its On-Demand Web Programs and Segments. Please check the CLE Calculator above for CLE information specific to your state.
On-Demand Web Programs and Segments are approved in:
Alabama1, Alaska, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois , Iowa2*, Kansas, Kentucky*, Louisiana, Maine*, Mississippi, Missouri3, Montana, Nebraska, Nevada, New Hampshire4, New Jersey, New Mexico5, New York6, North Carolina7, North Dakota, Ohio8, Oklahoma9, Oregon*, Pennsylvania10, Rhode Island11, South Carolina, Tennessee12, Texas, Utah, Vermont, Virginia13, Washington, West Virginia, Wisconsin14 and Wyoming*.
Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.
Minnesota approves live webcasts ONLY
Please Note: The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. PLI programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.
*PLI will apply for credit upon request. Louisiana and New Hampshire: PLI will apply for credit upon request for audio-only on-demand web programs.
1Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.
2Iowa: The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.
3Missouri: On-demand web programs are restricted to six hours of self-study credit per year. Self-study may not be used to satisfy the ethics requirements. Self-study can not be used for carryover credit.
4New Hamphsire: The approval is for three years from recorded date.
5New Mexico: On-Demand web programs are restricted to 4.0 self-study credits per year.
6New York: Newly admitted attorneys may not take non-traditional course formats such as on-demand Web Programs or live Webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.
7North Carolina: A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs.
8Ohio: To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us. Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.
9Oklahoma: Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.
10Pennsylvania: PA attorneys may only receive a maximum of four (4) hours of distance learning credit per compliance period. All distance learning programs must be a minimum of 1 full hour.
11Rhode Island: Audio Only On-Demand Web Programs are not approved for credit. On-Demand Web Programs must have an audio and video component.
12Tennessee: The approval is for the calendar year in which the live program was presented.
13Virginia: All distance learning courses are to be done in an educational setting, free from distractions.
14Wisconsin: Ethics credit is not allowed. The ethics portion of the program will be approved for general credit. There is a 10 credit limit for on-demand web programs during every 2-year reporting period. Does not approve of Audio-only On-Demand Webcasts.
Running time and CLE credit hours are not necessarily the same. Please be aware that many states do not permit credit for luncheon and keynote speakers.
If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.
Note that some states limit the number of credit hours attorneys may claim for online CLE activities, and state rules vary with regard to whether online CLE activities qualify for participatory or self-study credits. For more information, call Customer Service (800) 260-4PLI (4754) or e-mail info@pli.edu.