This course presents an introduction to many of the core principles of behavioral finance. In this course, participants will learn about some of the assumptions underlying standard finance theoryand how behavioral finance undermines some of these assumptions, specifically regarding whether investor and market behavior is rational. The course will cover cognitive and emotional biases, and how these biases can sometimes lead to poor investment decisions. To learn aboutthese biases, participants will explore examples of how they can affect their own investment behavior and the behavior of the markets. Finally, the course will cover practical applications of behavioral finance principles, such as how to formulate an ideal employee retirement plan and novel methods of encouraging bank account holders to increase their savings.
This course examines investment adviser representatives' fiduciary and ethical responsibilities in preventing misuse of Material Nonpublic Information (MNPI). It explores how enforcement nowextends beyond classic insider trading to penalize firms with weak or generic compliance programs, even absent improper trades. Using landmark cases and a recent Rule 10b5-1 conviction, the course shows how regulators view delayed, poorly tailored, or unenforced policies as standalone violations. Participants will review Section 204A, Rule 206(4)-7, Regulation FD, and NASAA model rules, with emphasis on how SEC 'gold standard' expectations filter into state exams. Compliancebest practices include policy tailoring, restricted lists, pre-clearance, surveillance, and documentation, with attention to risks from technology, remote work, off-channel communications, and automated trading. The course also applies ethical decision-making frameworks through case studies and scenarios, helping IARs balance fiduciary duty, compliance, and client trust in today's complex environment.
This course teaches participants about investing in oil and gas limited partnerships. In particular, participants learn about how limited partnerships are structured and how they are taxed. Also, participants are taught about the characteristics of different types of oil and gas limited partnerships based on risk (i.e., exploratory, developmental and income) as well as the different types based on the industrial supply chain (i.e., upstream, midstream, downstream). Additionally, the unique tax benefits enjoyed by oil and gas investors are examined, as well as the major risks, such as high costs, illiquidity, oil and gas price volatility, dry holes, regulatory risk, climate change, and fraud.
This course explores the basics of equity options, options strategies, and non-equity options. The course begins by defining and describing call options and put options. Important options concepts are explained, such as what is meant by long versus short positions, American versus European-style options, opening versus closing positions, intrinsic versus time value, and types of settlement. Participants will learn how to calculate their gains and losses from options transactions, as well as how to use options for hedging, income and speculation. Non-equityoptions, such as index options, foreign currency options, and FLEX Options are also described.Finally, the course summarizes the benefits and risks of options, in addition to the most relevant concerns of regulators regarding options trading.