To be most effective, investment adviser representatives must understand human psychology as well as the markets. Traditionally, IARs are taught to head off issues that may arise by uncovering a client's risk tolerance early in the financial planning process so they do not make recommendations that trigger risk-related objections. But there is another factor'the individualclient's unconscious beliefs about money. Working with a client's financial biases means being able to recognize, interpret, and ethically respond to and counterbalance these cognitive shortcuts thatcan negatively influence client decision making. This short, half-credit ethics course is designed tofamiliarize IARs with the financial biases that may be at work in clients and lists practical, respectful methods of addressing them.
Ethical Business Practices & the Modernized SEC IA Marketing Rule provides an overview of theInvestment Advisers Act of 1940, Advertising Rule 206(4)-1. The course explains the SEC's new Marketing Rule, including testimonials and performance advertising and the NASAA Model Rule 102(a)(4)-1 on Unethical Business Practices of Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers. While this Marketing Rule provides more flexibility to advisers in communicating with prospective clients and investors, the SEC makes itclear that advisers may not present unethical, false, misleading, deceptive, or unbalanced advertisements. The Marketing Rule imposes additional specific obligations on IAs when it comes to compliance with advertising rules, including appropriate due diligence and verification of claims, creation of additional policies and procedures, heightened disclosures, and maintenance ofnew books and records. The course details the specific definitions used in the act, the scenarios inwhich they are applicable, and uses case studies to underscore the regulatory response to breaking*** continued on timed outline
Throughout this course, students will learn what it means to be a fiduciary in the eyes of the SECand other regulators. IARs & Reg BI discusses the top responsibilities of investment advisers actingas fiduciaries as well as the deficiencies most commonly found in regulatory examinations. It scrutinizes the investment adviser code of ethics requirements, common conflicts of interest in thecourse of business, and how failing to deal with them properly can result in disciplinary actions. Case studies illustrate the course concepts.
This IAR Continuing Education course provides an overview of the SEC's Rule 206(4)-5, commonly referred to as the "Pay-to-Play" rule. Designed for investment adviser representatives, the course delves into the rule's origins, key provisions, and its critical role in preventing unethical practices within the industry. Attendees will gain practical insights into how to comply with the rule, update internal policies, and avoid the severe penalties associated with violations.
This course examines the standards and provisions implemented by SEC Rule 204A-1, requiring all federally registered investment adviser to establish a code of ethics. Defining employees who areclassified as supervised persons and access persons is reviewed first, with case studies provided to explain the differences between them. The course will proceed by examining the elements of thestandards of conduct, with case studies to address the deficiencies that the SEC uncovered in itsexaminations. The readers should find the scenarios useful in avoiding issues leading to conductthat's not in alignment with their investment adviser's code of ethics.
This course provides a comprehensive overview of securities regulation in Nevada, focusing on the role and authority of the Nevada Securities Division and its oversight of broker-dealers, investment advisers, and their representatives. Participants will gain a clear understanding of how the Division enforces state securities laws, conducts examinations, and promotes investor protection.
The course explores the full examination process, including its purpose, scope, and the types of records typically reviewed. It also covers potential post-examination outcomes and highlights practical best practices firms can implement to maintain compliance and reduce regulatory risk.
In addition, participants will be introduced to the North American Securities Administrators Association and its role in shaping consistent regulatory standards across jurisdictions. The course provides an overview of NRS 90 and NAC 90 and key regulatory requirements, including policies and procedures, recordkeeping obligations, ethical standards, advertising rules, custody considerations, and suitability requirements.
Common compliance violations are examined to help firms identify risk areas and strengthen internal controls. The course concludes with a discussion-based Q&A segment, reinforcing key concepts and addressing practical compliance questions.
Overall, this course equips participants with the knowledge and tools needed to navigate Nevada’s regulatory environment effectively while upholding the core principle of investor protection.
The course will review the regulatory framework that governs investment companies, including the Investment Company Act of 1940 and the SEC. The organizational structure, responsibilities of each party, and the process of buying and selling open-end investment companies will be explained. The course will then define the different types of investment companies and the methods used to evaluate individual funds.