New Firm Element Training Includes Broad Range of Compliance Topics
The Securities Industry/Regulatory Council on Continuing Education has published its most recent semi-annual Firm Element Advisory describing topics to be included in Firm Element training. New topics include requirements for client reporting of account information, treatment of sub-accounts, net capital implications of subordinated loans, and municipal adviser registration. Updated topics include an updated AML template for small firms, business continuity planning, margin account reporting, auction rate securities, and municipal securities sales practices. Main topics on the list include alternatives, AML, blogs/social networks, annuities, supervision, and compliance.
OUR TAKE: Although the Firm Element training applies to broker-dealers, many advisers use the topics as a template to build an adviser training program.