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The Regulatory Element provides training on significant rule changes and other regulatory developments. Courses focus on new and amended rules, industry trends and core knowledge areas relevant to each registration category.

The Regulatory Element Learning Plan below has been created based on the registration categories that were selected.

MSRB Advertising Standards

Applying Municipal Security Advertisement Standards

This course reviews when a communication is considered an advertisement under MSRB Rule G-21 and the standards that apply to these advertisements.

Prohibited Trading Practices

Avoiding Manipulative and Disruptive Trading Practices

This course studies how to identify and avoid certain prohibited manipulative and deceptive trading practices, including those commonly known as “spoofing” and “layering.”

Options Account Opening Procedures

Performing Due Diligence During Options Account Opening

This course examines the due diligence required to determine whether it is appropriate to approve a customer to trade options.

Contingency Offerings

Safeguarding Investor Funds: Responsibilities With Contingency Offerings

This course reviews obligations pertaining to investor funds during contingency offerings with an emphasis on areas of particular concern per FINRA findings.

Content of Research Reports

Maintaining Research Content Integrity

This course identifies content requirements for equity research reports. It also describes specific disclosure obligations regarding risk factors and valuation methods.

Communications With the Public and Social Media

Managing Online Presence: Communications With the Public and Social Media

This course defines social media in the context of registered representatives’ communications with the public, and highlights ways to mitigate key social media risks. It also provides guidance on applying best practices when using social media.

Segregation Requirements

Segregation Requirements

This course reviews the segregation requirements in Securities Exchange Act Rule 15c3-3, focusing on three main components: possession or control, reserve computation, and exemptions.
Supervisory Considerations for Communications With the Public and Social Media

Supervision and Social Media

This course focuses on supervising registered representatives’ social media use and ways to mitigate key social media risks. It also highlights requirements for recognizing and handling social media-based customer complaints.

Books and Records

Amended Rule Overview: The SEC’s Electronic Recordkeeping Rule for Broker-Dealers

This course reviews the amended recordkeeping requirements in Securities Exchange Act Rule 17a-4(f), (i) and (j).
Senior Investors and Diminished Capacity

Combating Financial Exploitation: Protecting Seniors and Those With Diminished Capacity

This course reviews the concept of financial exploitation and explores the tools and strategies that are in place to protect vulnerable investors and support registered persons in their day-to-day work with these investors.


Mitigating Cybersecurity Risks

This course describes common cybersecurity threats such as phishing, hacking and account takeovers, and highlights the red flags of these scams. It also provides best practices to mitigate and report these threats.
Regulation BI

Applying Regulation BI

This course examines when and how to apply SEC Regulation BI. Areas of focus include factors registered representatives should consider when making a recommendation to a customer and disclosures that must be provided to customers.