Advanced Broker-Dealer Compliance

Price: $1895   Register now

Recommended that you register at least two weeks in advance.

Course Features

  • Course date:05/05/2020
  • Course Duration: 2 Day
  • Level: Advanced
  • Prerequisites: None
  • Method: Live & Virtual
  • Venue: 115 Broadway, NY, NY 10006
  • Time: 9:00 am – 5:00 pm
  • Dress Code: Business Casual
  • Category:
  • Certificate: Yes
  • CPE Credits: 14
  • Course Code: 305

Advanced Broker-Dealer Compliance

Who should take this seminar?

If you need to understand how broker-dealers are formed and structured, the regulatory requirements they are subject to from the SEC and FINRA and the evolving landscape of the industry, or are an entrepreneur considering establishing a new brokerage firm, someone aspiring to work in the securities industry, career transitioning to this industry, an owner of a private company considering tapping the capital markets, a new compliance personnel, or just want to broaden your expertise on these critical trends, this is the seminar. It is not aimed at financial engineers looking for hedging and trading strategies, but for those professionals seeking to expand their knowledge with insights and practical guidance, such as attorneys, operations personnel, and new entrants to the industry.

What will you learn?

  • The basics of broker-dealer registration requirements
  • Licensing and registration requirements for associated persons of broker-dealers
  • The various types of broker-dealers
  • SRO membership requirements
  • Membership in multiple SROs
  • The federal securities laws and SRO rules governing broker-dealers
  • Overview of various types of business models
  • Financial and operational rules
  • Supervisory and internal controls.
  • Sales practice rules
  • Disciplinary Process

Several case studies involving sales practice and supervision will be reviewed and implications identified. Power points and outlines will be provided so that participants can review concepts demonstrated in class. All class notes and readings are provided, including references to additional sources (books, articles and websites).



  • Regulatory Requirements for a Broker-Dealer
    • An overview of the Federal Securities Regulation
      • Securities Act-1933
      • Securities Exchange Act-1934
        • The Role of FINRA
      • Investment Company Act-1940
      • Investment Advisers Act-1940
    • SEC and SRO requirements
    • Broker-Dealer Registration Requirements
      • Section 15(a) registration requirements
      • Exemptions
      • Finders
      • Networking Arrangements
      • Evolving business structures
    • Licensing requirements for associated person of broker-dealers
      • Differences between associated persons and employees
      • Licenses
        • New Securities Industry examination
      • Licensing waivers
      • Continuing Education
      • Forms U4, U5 and U6
        • Statutory Disqualifications
    • FINRA Membership Process
      • 14 standards
      • NMA
      • CMA
      • Material Consultations
      • Expedited Proceedings
      • Issues in connection with BD withdrawal
        • Account Transfer Process
        • ACATs system
    • Risk Assessments Rules
      • Material Associated Persons
    • Types of Broker-Dealers
      • CAB
      • Crowd Funding Portals
      • Rule 15a-6 exemption for foreign broker-dealers
      • Master-sub account arrangements
    • Form BD/CRD
      • IARD
    • SEC/SRO Pyramid
      • Rule 4530 and self-reporting obligations
        • Customers complaints
      • Net Capital Deficiencies
        • Rule 17a-11 filings
    • Overview of SRO Examinations Process:
      • Off-Site Surveillance
      • Examinations:
        • Cycle
        • For cause
    • SEC Oversight of SRO Examination Process
      • OCIE
    • Risk Control Assessments
    • Broker-dealer reporting obligations
    • SRO/SEC Rulemaking
    • Impact of Technology
    • Market Structure
    • Cybersecurity
    • Regulation SCI/Business Continuity



Overview of Broker-Dealer Functions

    • Introducing Firms
    • Prime Brokerage/Soft Dollars
    • Short Selling/Securities Lending
    • Clearing Firms
    • Clearing Agreements
      • Omnibus
      • Fully-Disclosed
  • Financial and Operational Rules
    • Financial Responsibility Rules
    • Record Keeping Rules
    • Net Capital
    • Customer Protection
  • Sales Practice
    • Know Your Customer
    • Suitability/Fiduciary Duty
    • Product-Based Suitability
      • Proposed Regulation BI
    • RR compensation/conflicts of interest
    • Penny Stock Rules
    • Communications with the Public
    • Alternative Investments
    • Elder Abuse-Senior Care
  • Supervision:
    • SEC and SRO standards
    • WSPs
    • Review of employee/associated person:
      • Emails
      • Personal trading
      • Outside business activities.
    • Insider Trading
    • AML
    • Internal Controls
    • CEO Certification
    • Annual Compliance Report
    • Role of CCO and compliance
    • Compliance and Supervisions
      • Diffences between compliance and supervision

Case Studies

Wrap up, summary and sources of further information.


  • William Jannace   has over 30 years of experience in the securities industry as a regulator at the American Stock Exchange, the New York Stock Exchange and at FINRA. As a senior counsel at Ross PLLC, he  advises clients across a range of applications and compliance needs. Currently he is also focused on blockchain industry related …
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