Section 1: Knowledge of Capital Markets
FINRA
2266 – SIPC Information
2269 – Disclosure of Participation or Interest in Primary or Secondary Distribution
5250 – Payments for Market Making
MSRB
G-11 – Primary Offering Practices
G-32 – Disclosures in Connection with Primary Offerings
G-34 – CUSIP Numbers, New Issue and Market Information Requirements
SEC
Securities Act of 1933
– Section 7 – Information Required in a Registration Statement
– Section 8 – Taking Effect of Registration Statements and Amendments Thereto
– Section 10 – Information Required in Prospectus
– Section 23 – Unlawful Representations
– 215 – Accredited Investor
– 431 – Summary Prospectuses
– Schedule A – Schedule of Information Required in Registration Statement
– Schedule B – Schedule of Information Required in Registration Statement
Securities Exchange Act of 1934
– Section 3(a) – Definitions and Application of Title
– Section 12 – Registration Requirements for Securities
– Section 15 – Registration and Regulation of Brokers and Dealers
– Section 15A – Registered Securities Associations
– Regulation D – Rules Governing the Limited Offer and Sale of Securities Without Registration Under the Securities Act of 1933
– 144 – Persons Deemed Not Be Engaged in a Distribution and Therefore Not Underwriters
– 144A – Private Resales of Securities Institutions
– 145 – Reclassification of Securities, Mergers, Consolidations and Acquisitions of Assets
– 147 – “Part of an Issue,” “Person Resident,” and “Doing Business Within” for Purposes of Section 3(a)(11)
– 164 – Post-filing Free Writing Prospectuses in Connection with Certain Registered Offerings
Securities Investor Protection Act of 1970 (SIPA)
Section 2: Understanding Products and Their Risks
FINRA
2261 – Disclosure of Financial Condition 2262 – Disclosure of Financial Relationship with Issuer
2262 – Disclosure of Financial Relationship with Issuer
2310 – Direct Participation Programs
2330 – Members’ Responsibilities Regarding Deferred Variable Annuities
2342 – “Breakpoint” Sales
2360 – Options
MSRB
D-12 – Definition of Municipal Fund Securities
G-17 – Conduct of Municipal Securities and Municipal Advisory Activities
G-30 – Pricing and Commissions
G-45 – Reporting of Information on Municipal Fund Securities
CBOE
Rule 1.1 – Definitions
SEC
Securities Exchange Act of 1934
– 3a11-1 – Definition of the Term “Equity Security”
– 10b-18 – Purchases of Certain Equity Securities by the Issuer and Others
Investment Company Act of 1940
– Section 3(a) – Definitions – “Investment Company”
– Section 4 – Classification of Investment Companies
– Section 5 – Subclassification of Management Companies
– 12b-1 – Distribution of Shares by Registered Open-end Management Investment Company
Section 3: Understanding Trading, Customer Accounts and Prohibited Activities
FINRA
2010 – Standards of Commercial Honor and Principles of Trade
2020 – Use of Manipulative, Deceptive or Other Fraudulent Devices
2040 – Payments to Unregistered Persons
2090 – Know Your Customer
2111 – Suitability
2120 – Commissions, Mark Ups and Charges
2150 – Improper Use of Customers’ Securities or Funds; Prohibition Against Guarantees and Sharing in Accounts
2165 – Financial Exploitation of Specified Adults
2210 – Communications with the Public
2231 – Customer Account Statements
2251 – Forwarding of Proxy and Other Issuer-related Materials
2264 – Margin Disclosure Statement
2232 – Customer Confirmations
3150 – Holding of Customer Mail
3210 – Accounts at Other Broker-Dealers and Financial Institutions
3230 – Telemarketing
3240 – Borrowing from or Lending to Customers
3250 – Designation of Accounts
3260 – Discretionary Accounts
3310 – Anti-money Laundering Compliance Program
4210 – Margin Requirements
4370 – Business Continuity Plans and Emergency Contact Information
4511 – General Requirements
4512 – Customer Account Information
4514 – Authorization Records for Negotiable Instruments Drawn From a Customer’s Account
5130 – Restrictions on the Purchase and Sale of Initial Equity Public Offerings
5210 – Publication of Transactions and Quotations
5220 – Offers at Stated Prices
5230 – Payments Involving Publications that Influence the Market Price of a Security
5240 – Anti-intimidation/Coordination
5270 – Front Running of Block Transactions
5280 – Trading Ahead of Research Reports
5290 – Order Entry and Execution Practices
5310 – Best Execution and Interpositioning
5320 – Prohibition Against Trading Ahead of Customer Orders
6438 – Displaying Priced Quotations in Multiple Quotation Mediums
MSRB
G-8 – Books and Records to be Made by Brokers, Dealers, Municipal Securities Dealers, and Municipal Advisors
G-9 – Preservation of Records
G-13 – Quotations
G-14 – Reports of Sales or Purchases
G-15 – Confirmation, Clearance, Settlement and Other Uniform Practice Requirements with Respect to Transactions with Customers
G-18 – Best Execution
G-21 – Advertising
G-25 – Improper Use of Assets
G-39 – Telemarketing
G-41 – Anti-money Laundering Compliance Program
G-47 – Time of Trade Disclosure
SEC
Regulation M
Regulation S-P – Privacy of Consumer Financial Information and Safeguarding Personal Information
Securities Exchange Act of 1934
– Section 10 – Regulation of the Use of Manipulative and Deceptive Devices
– Section 11(d) – Trading by Members of Exchanges, Brokers and Dealers – “Prohibition on Extension of Credit by Broker-Dealer”
– Section 14 – Proxies
– Section 15 – Rules Relating to Over-the-Counter Markets
– Section 20A – Liability to Contemporaneous Traders for Insider Trading
– Section 21A – Civil Penalties for Insider Trading
– 10b-1 – Prohibition of Use of Manipulative or Deceptive Devices or Contrivances with Respect to Certain Securities Exempted from Registration
– 10b-3 – Employment of Manipulative and Deceptive Devices by Brokers or Dealers
– 10b-5 – Employment of Manipulative and Deceptive Devices
– 10b5-1 – Trading on Material Nonpublic Information in Insider Trading Cases
– 10b5-2 – Duties of Trust or Confidence in Misappropriation Insider Trading Cases
– 10b-10 – Confirmation of Transactions
– 15c1-2 – Fraud and Misrepresentation
– 15c1-3 – Misrepresentation by Brokers, Dealers and Municipal Securities Dealers as to Registration
– 15c2-12 – Municipal Securities Disclosure
– 15l-1 – Regulation Best Interest
– 17a-3 – Records to be Made by Certain Exchange Members, Brokers and Dealers
– 17a-4 – Records to be Preserved by Certain Exchange Members, Brokers and Dealers
– 17a-14 – Form CRS, for Preparation, Filing and Delivery of Form CRS
Investment Company Act of 1940
– 17a-6 – Exemption for Transactions with Portfolio Affiliates
– 17a-7 – Exemption of Certain Purchase or Sale Transactions Between an Investment Company and Certain Affiliated Persons Thereof
ITSFEA
Insider Trading & Securities Fraud Enforcement Act of 1988 (ITSFEA)
Federal Reserve Board
Regulation T
Federal Trade Commission (FTC)
Telemarketing Sales Rule
USA PATRIOT Act
Section 314 – Cooperative Efforts to Deter Money Laundering
Section 326 – Verification of Identification Section
Section 352 – Anti-Money Laundering Programs
Section 4: Overview of the Regulatory Framework
FINRA By-Laws
Article I – Definitions
Article III – Qualifications of Members and Associated Persons
Article IV – Membership
Article V – Registered Representatives and Associated Persons
Article VI – Dues, Assessments, and Other Charges
Article XII – Disciplinary Proceedings
Article XV – Limitations of Power
FINRA
0100 Series – General Standards
1000 Series – Member Application and Associated Person Registration
1122 – Filing of Misleading Information as to Membership or Registration
1240 – Continuing Education Requirements
2060 – Use of Information Obtained in Fiduciary Capacity
2263 – Arbitration Disclosure to Associated Persons Signing or Acknowledging Form U4
2267 – Investor Education and Protection
2310(c) – Non-cash Compensation
2320(g)(4) – Non-cash Compensation
2341(l)(5) – Non-cash Compensation
3110(e) – Responsibility of Member to Investigate Applicants for Registration
3220 – Influencing or Rewarding the Employees of Others
3270 – Outside Business Activities of Registered Persons
3280 – Private Securities Transactions of an Associated Person
4513 – Written Customer Complaints
4330 – Customer Protection – Permissible Use of Customers’ Securities
4530 – Reporting Requirements
5110(h) – Non-cash Compensation
8312 – FINRA’s BrokerCheck Disclosure
CBOE
7.10 – Fingerprint-based Background Checks of Exchange Directors, Officers, Employees and Others
MSRB
G-2 – Standards of Professional Qualifications
G-3 – Professional Qualification Requirements
G-7 – Information Concerning Associated Persons
G-10 – Delivery of Investment Brochure
G-20 – Gifts, Gratuities and Non-cash Compensations
G-37 – Political Contributions and Prohibitions on Municipal Securities Business
SEC
Securities Exchange Act of 1934
– Section 3(a)(39) – Definitions and Application of Title (Statutory Disqualification)
– 17f-2 – Fingerprinting of Securities Industry Personnel