Series SIE Rules & Regulations

Section 1: Knowledge of Capital Markets

FINRA

MSRB

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

MSRB

CBOE

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

MSRB

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

Federal Reserve Board

Federal Trade Commission (FTC)

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 Powe

FINRA

CBOE

MSRB

SEC

  • Securities Exchange Act of 1934
    • Section 3(a)(39) – Definitions and Application of Title (Statutory Disqualification)
    • 17f-2 – Fingerprinting of Securities Industry Personnel