News
FIRE Solutions is recognized as the industry-leader in eLearning and eCompliance solutions. For a more in-depth understanding of our company, we invite you to read the following feature articles:
May 2009
FIRE Delivers FINRA E-Learning Courses
Through an agreement with FINRA, FIRE Solutions is now offering a selection of FINRA’s e-learning courses. The initial list of courses includes:
- AML—Institutional: Recognizing Red Flags
- AML—Retail: Exploring New Risks
- Retail Branch Office Supervision: Compliance with Regulations
- Conflicts of Interest
- Debt Mark-Ups
- Fixed Income Suitability: Retail Sales Practices
- Retail Branch Office Supervision: Understanding Supervisory Responsibilities
- Structured Products
- Supervision: Obligations for Firms with Institutional Clients
All FINRA courses have been seamlessly integrated into FIRE’s Firm Element Continuing Education platform, offering the same benefits you’ve come to expect from FIRE:
- One-step enrollment
- Automated welcome and reminder emails with custom wording and frequency
- Single-point login and access to FINRA and FIRE Firm Element courses
- Self-enrollment and credit card processing options
- 24/7 progress reporting
- End-of-program completion binder
- FIRE’s renowned customer service
A complete catalog can be found here. For more information, please contact Lis Ramsey at eramsey@firesolutions.com or 415 869-4233.
May 2009
FIRE launches U4 update service
In response to FINRA’s updates to the Regulatory Action disclosure questions on Form U4 as approved by the SEC and effective May 18, FIRE Solutions has introduced its U4 Update solution, built on our proprietary BlazeQNA platform. The solution is available now for immediate launch.
FINRA’s rule change 2009-008 is scheduled to go into effect on Monday, May 18, 2009. The rule change requires all Registered Reps to update their U4 with answers to a series of questions. Firms using WebEFT will not be able to update any rep’s CRD file until the disclosure questions have been answered.
In response to firms’ requirement to determine which reps need to file amended U4s, we have designed a system to easily collect and report reps’ responses, and, (presuming FINRA provides the contemplated upload facility) file affirmations for those not affected.
Our proprietary system consists of a questionnaire (which can be customized to include additional queries or explanatory language) that is accessed via a unique username and password that is emailed to each rep. Responses are fully tracked, and any affirmative answers lead to an immediate red flag which is communicated to the program administrator. Periodic reminder emails can be scheduled to insure compliance, and program administrators can run real-time reports to determine the status and responses of all reps. As part of our service, we will upload all the “non-red-flagged” responses to FINRA using their proposed mechanism for doing so. That would leave the firm to file amended U-4s for only those reps that answered “yes” to any of the new disclosure questions.
In advance of the presumed SEC approval of the proposed changes, we have created a sample online questionnaire utilizing FINRA’s language, which can be viewed here.
For more information, contact sales@firesolutions, or call 866 ASK-FIRE.
March 2009
Firm Element CE - New Courses for 2009
At the beginning of each year, FIRE Solutions selects new, relevant topics to add to our catalog of over 100 Firm Element CE courses. We choose courses based on an analysis of market demand, client requests, client feedback, and the recommendations of FINRA's Firm CE Advisory Committee.
FIRE's new courses for 2009 include:
- 529 College Savings Plans (Available Now!)
- AML - Current Issues 2009 (Available Now!)
- AML Red Flags - Retail and Operation (Available Now!)
- Comparing College Savings Plans (Available Now!)
- Investment Adviser Basics (Available Now!)
- Investment Advisers Conflicts of Interest (Available Now!)
- Investment Adviser Ethical Trading Practices (Available Now!)
- Mutual Fund Basics (Available Now!)
- Preventing Illegal Resale of Restricted & Unregistered Stocks (Available Now!)
- Private Placement Securities (Available Now!)
- Private Placement Underwriting (Available Now!)
- Tax Considerations of College Savings Plans (Available Now!)
- Correspondence Supervision (Q2)
- Market Conduct (Q2)
- Mutual Fund Recommendation Analysis (Q2)
- Mutual Fund Supervisory Issues (Q2)
- Mutual Fund Risk and Performance Concepts (Q2)
- New Products (Q2)
- Sales of Living Benefits (Q2)
- Securities Valuation and Analysis (Q2)
- Structured Products and Derivative Securities (Q2)
- Distribution of Third-Party Research Reports (Q3)
- Fair Pricing and Compensation (Q3)
- FINOP Duties and Customer Protection (Q3)
FIRE has been providing online training to the financial world for over a decade. FIRE's all-inclusive Firm Element CE program includes automated introductory emails, 24/7 reporting, unlimited toll-free technical support, and completion binder.
For further information on FIRE's Firm Element CE, Series Exam Prep, Annual Compliance Meetings, Rep Registration, and Gift & Entertainment tracking, please visit www.firesolutions.com or call 866-ASK-FIRE.
January 2009
FIRE Solutions Announces Appointment of Eric Sternbach as CEO
The Board of Directors of FIRE Solutions, Inc., a leading provider of compliance and training solutions to the financial services industry, today announced the appointment of Eric Sternbach as CEO, succeeding company co-founder Nicole Miller. Simultaneously, the Board announced that it was moving FIRE’s headquarters from San Francisco to New York.
These moves were instigated by a desire to provide FIRE’s client base with a customer-focused organization that can be even more responsive to their needs. FIRE will continue to be represented in the San Francisco area by Regional Sales Manager Elizabeth Ramsey, and by administrative and support staff.
For the past year, Eric has been Director of Sales and Marketing at FIRE. Prior to that, he held positions with ACF Consultants, SumTotal Systems, and founded MicroVideo Learning Systems; the world’s first video-based computer training company, and over the ensuing 15 years grew it to 53-employee concern serving the Fortune 500 and Federal government.
Says Miller, “After working with Eric for the past year, I believe he will provide dynamic and experienced leadership for FIRE. This will serve our clients well and also enable FIRE to continue to grow and offer advanced solutions. I look forward to remaining involved with the company as a Board Member and advisor.”
“I am honored that Nicole and the Board are providing me with this opportunity,” says Sternbach. “I appreciate the trust our clients put in us every day to provide them with best-of-breed compliance and training solutions, and I am looking forward to building on the firm foundation established by Nicole and the entire FIRE team.
“As the former founder of my own business, I am keenly aware that the relationship we have with each client is our greatest asset, and I am committed to providing the highest quality solutions and customer service in the ever-changing compliance landscape,” he adds.
About the company:
Founded in 1999, FIRE Solutions is an industry leader in providing compliance and training solutions to the financial services industry. An Inc. Magazine “fastest growing” company of 2005 and the winner of Compliance Reporter’s “Vendor of the Year” award in 2006, FIRE’s products and services include online FINRA Series exam prep, Firm Element and Insurance CE, Continuing Education Needs Analysis, Gift and Entertainment tracking and Registered Representative tracking systems.
December 2008
FIRE Solutions Teaches the Fundamentals Underlying the Financial Crisis
San Francisco, CA. - FIRE Solutions published an article covering current market developments entitled – The 2008 Financial Crisis – How did this happen? The goal behind this article was to outline the issues underlying the crisis and explain how various factors contributed to the current situation.
The financial crisis hit the markets with full force beginning in Fall of 2008. What began as a housing bubble in the United States soon grew into an international credit crisis that roiled financial markets and destabilized world economies. The sharp declines in real estate, financial markets, and the availability of credit will have an historic and lasting impact on the financial services industry.
FIRE Solutions believes it is important for industry personnel to have a solid understanding of the underlying causes of this historic crisis. This foundation will help representatives address questions and concerns raised by the investing public.
While press coverage of recent market developments has been substantial, there have been few thoughtful analyses of the crisis. As the title suggests, FIRE Solutions’ article takes a step-by-step look at the underpinnings of the crisis and clearly explains each root cause.
Please contact FIRE to learn more about our course offerings and plans for 2009.
To read the article click here or call (415) 247-1830 for more information.
2008 ACMNow Topics - April, 2008
FIRE Solutions, Inc. is pleased to announce the addition of several new topics to our ACMNow library. New topics include:
- Anti-Money Laundering - Current Issues 2008
- Business Conduct
- Deferred Variable Annuities - NASD Rule 2821
- Hedge Funds
- Institutional Sales Representative Responsibilities
- Senior Citizen Sales Practices
- Supervising Senior Accounts
- Suitability and Supervision
- Wholesaler Responsibilities
Most topics are covered in 15-minute segments and can be combined to meet all of your ACM needs. A complete list of our ACMNow topics can be found in our course catalog, please click here for more information. For more details on system functionality, click here. For a product demonstration, click here to contact one of our sales representatives, or call us at 866-275-3473 Option 3.
February 2008
FIRE Solutions Makes a Strategic Addition to Its Sales and Marketing Team
FIRE Solutions, Inc., the industry leader in FINRA-mandated education and compliance services, today announced the addition of Eric Sternbach, in the role of Director of Sales and Marketing.
Eric brings with him over 20 years of experience in technology-based and live training, most recently as U.S. Business Development Director for ACF Consultants Ltd., a London-based financial markets training company providing services to the world's major investment banks. Eric also founded MicroVideo Learning Systems, the world's first video- (and later web)-based PC software training company. During his 17 years with MicroVideo, Eric grew the company from startup to nearly $10 million in sales and a staff of 53.
"I am incredibly excited to be joining FIRE, especially at a time of such explosive growth in our market. With 660,000 registered reps in the U.S., firms are increasingly looking for cost-effective single-source solutions to their Exam Prep and Firm Element and Insurance CE training needs, as well as for tracking their reps' registration and gifts and gratuities. FIRE has always been best-of-breed in these areas and will continue to provide the broker/dealer community with cost-effective solutions utilizing the latest technology," says Eric.
Nicole adds "The depth Eric brings to the sales team, with years of experience working in the financial services industry and his unique understanding of our clients' needs, will add another facet to FIRE. After the significant technology improvements FIRE implemented in 2007, a more senior sales staff will continue to add to client satisfaction."
Eric can be reached at 415-869-9059 (direct), 646-234-5097 (cell) and at esternbach@FIRESolutions.com
New 2008 Course Offerings - February, 2008
FIRE Solutions, Inc. is pleased to announce the addition of several topics to our course catalog for 2008. New topics include:
- Anti-Money Laundering - Current Issues 2008 (Satisfies 1 hour of CFP Credit)
- Deferred Variable Annuities - NASD Rule 2821
- Institutional Sales Representative Responsibilities
- Senior Citizen Sales Practices
- Supervising Senior Accounts
- Suitability and Supervision
- Wholesaler Responsibilities
- And More...
PRESS RELEASE - June, 2007
FIRE Solutions, Inc. is pleased to announce the acquisition of the CRDirect product line from PFPC, Inc. effective June 22, 2007. CRDirect is the premier provider of FINRA registered representative licensing, management, analysis, and tracking tools to the securities industry. The addition of CRDirect to the FIRE Solutions portfolio of products enables FIRE to independently fulfill FINRA registered representative licensing and tracking requirements.
Click here for more information about the CRDirect system.
PRESS RELEASE - March, 2007
FIRE Solutions announces the launch of ACMNow, the first online recorded ACM Webcast solution. ACMNow is available to securities firms as of March 12, 2007, which makes it the first recorded ACM product on the market. Click here to download press release (Adobe pdf, 28KB)
PRESS RELEASE - March, 2007
FIRE Solutions, the only company offering online employee expense tracking to securities firms, announces a new release of PowerComply, a comprehensive gift and entertainment tracking software. Click here to download press release (Adobe pdf, 26KB)
PRESS RELEASE - June, 2006
Fire Solutions ranked 14th in Inc. Magazine for the Top 100 Fastest Growing Companies in American cities, ranked #1 Fastest Growing Women-Run Company in American cities.
PRESS RELEASE - April, 2006
FIRE Solutions wins "Vendor of the Year" award with Compliance Reporter
FIRE Solutions – Vendor of the Year
NASD has a pretty big footprint. More than 5,600 brokerages and 660,000 individual brokers fall under its jurisdiction, and failure to comply with its ever-denser thicket of rules and regulations can have very unpleasant consequences. So Juliana Lutzi has a motivated market for her online training and compliance products aimed at financial institutions. FIRE (the name is an acronym for Finance, Insurance, Regulation, Education) also offers test prep for securities exams and hosts compliance meetings over the Web.
"We are sincerely honored and humbled to be featured in the June 2006 issue of Inc. Magazine where they have published our 5 year growth rate as 1,166%. A special thank you to Merrill Lynch for nominating FIRE for this prestigious award," said former CEO Juliana Lutzi.
FIRE is an award winning compliance and training provider with implemented solutions delivered to over 300,000+ professionals at over 280 firms including SmithBarney, Merrill Lynch, Morgan Stanley, Wachovia, Fidelity, Charles Schwab and the NASD. In April 2006, FIRE won the prestigious Vendor of the Year award by Institutional Investor for demonstrated excellence in technology innovation, content, and service. With over 1,500 hours of copyrighted material and world-class, multi-million dollar technology systems, it is clear why industry analysts, press, and financial institutions considered FIRE the premier compliance and education firm in the United States.
Compliance Reporter - April, 2006
FIRE Solutions – Vendor of the Year
With CEO and co-founder Juliana Lutzi at the helm, FIRE offered broker/dealers PowerComply, a Web-based program designed to help prepare for the gift-giving rules well in advance of the SRO rules effective dates. Soon after regulators put the industry on notice, firms began to wrestle with the expenses of building their own programs to track employee expenses. Other firms questioned why other technology companies were not developing software programs. PowerComply was the first and remains the only program that tracks expenditures on both gifts and entertainment to meet regulatory requirements.
Read the complete article on the Compliance Reporter Website .
About FIRE Solutions, Inc.:
FIRE Solutions, Inc., (for Finance, Insurance, Regulation, and Education), is pioneering online FINRA exam preparation, eCompliance solutions, and continuing education provider in the financial services and insurance industries. FIRE delivers an extensive financial service hub and eLearning solution for industry professionals, including customized internal training. In addition to having one of the highest pass rates for exam preparation in the FINRA securities market space; FIRE is the first company to offer Webcasting for compliance services. With over 20 years of FINRA training experience and state-of-the-art Internet compliance solutions, FIRE delivers unmatched communications and learning solutions through its web-based engaging, interactive courses and services. To learn how FIRE streamlines compliance processes, visit www.FIRESolutions.com, or call (415) 247-1830.