FIRE Solutions has conducted a review of FINRA enforcement cases over a one-year period (June 2009 – May 2010), showing an average caseload of 81 disciplinary proceedings per month against firms and their representatives. Of the cases cited, 22% reported some form of undisclosed conflict of interest. The results of this review are provided here in a document entitled, “Failure to Disclose — Enforcement Cases Analysis,” an excerpt from FIRE’s Conflicts of Interest Firm Element CE course. This document details by type and number of cases, the activities that subjected firms and their representatives to fines, suspensions, or barring from the industry during that period. The results are enlightening!

Click here for your copy of "Failure to Disclose - Enforcement Cases Analysis".

FIRE Solutions Firm CE Course - Conflicts of Interest

Facing conflicts of interest issues is an ongoing concern for those administering “advice” as professionals. This course discusses the rules that relate to registered representatives concerning conflicts of interest, as well as detailed descriptions of defined conflicts of interest.

The issues discussed include disclosure obligations, books and record keeping requirements, personal trading issues, and actual trading practices. Topics are supported by case studies that illustrate violations of failures to disclose.

FIRE’s Conflicts of Interest course includes:

• A definition of conflicts of interest and the requirements for disclosing material information
• A review of various types of conflicts of interest that could arise in relationships with clients
• A review of disclosure procedures
• A review of FINRA enforcement cases involving failures to disclose
• A definition of Private Securities Transactions and the regulatory concerns surrounding them
• A discussion of compliance measures for Investment Advisor activities
• A review of personal trading account requirements and trading restrictions

For a more detailed explanation of FIRE’s Conflicts of Interest courses, contact one of our sales representatives. A link to our catalog of Firm Element CE, AML Training, Annual Compliance Meeting Topics, Insurance CE, CFP CE, and Securities Licensing courses is available here.

Other Key Updates

In 2009, we added 35 new courses to the Fire Solutions catalog and this year we will be adding 34 more. The new courses descriptions are available in our catalog.

For more information, contact Eric Sternbach at esternbach@firesolutions.com.