STUDY FOR THE SECURITIES INDUSTRY ESSENTIALS EXAM (SIE) EXAM

FINRA publishes a Content Outline for the Securities Industry Essentials (SIE) Exam. Under Section 3.2.5, FINRA's Content Outline lists "Communications with the Public."  The primary FINRA rule governing communications with the public is FINRA Rule 2210. Before you sit for the SIE Exam, make sure that you are familiar with the main provisions of Rule 2210. Bob Eder has a full treatment of Rule 2210  Communications with the Public  in his  Study for the  Securities Industry Essentials (SIE)   Exam . Here is an example of Bob Eder's treatment: "Correspondence (3.2.5) "FINRA defines "correspondence" as any written or electronic communication that a brokerage firm or representative sends, distributes, or makes available to 25 or fewer retail investors, within any 30-calendar-day period. If a representative sends material to more than 25 retail customers within any 30-day period, then it would be "retail communications." However, FINRA does no

FINRA requires that every brokerage firm put into writing its policies on Anti-Money Laundering (AML). FINRA's Content Outline for the Securities Industry Essentials Exam lists the AML Compliance Program in Section 3.2.3, thus warning SIE Exam candidates that they should expect questions on the exam. Bob Eder in his book Study for the Securities Industry Essentials (SIE) Exam discusses these rules designed to prevent money laundering in detail. Here is an example from Bob Eder's book: Written Procedures                                                    (3.2.3) A brokerage firm must put in writing its safeguards against money laundering. FINRA Rule 3310 requires that every firm registered with FINRA put in writing its compliance policies and procedures regarding anti-money laundering. EXAMPLE FINRA walks in unannounced to the main offices of XYZ Brokerage. Co. Mr. James, FINRA's chief investigator, asks to see a copy of XYZ Brokerage Co.'s procedures and safeguar

Are you planning to sit for the Securities Industry Essentials (SIE) Exam? Make sure that you are familiar with the definition of Money Laundering and its three stages. FINRA publishes a Content Outline for the SIE exam, and it includes Anti-Money Laundering in Section 3.2.3. The Content Outline specifically mentions the three stages of Money Laundering - Structuring, Layering, and Placement. Bob Eder covers  Money Laundering  in detail in his SIE study guide, Study for the Securities Industry Essentials Exam . Here is a sample of Bob Eder's discussion: "Three Stages of Money Laundering                         (3.2.3) "Criminal justice authorities have identified three stages of money laundering: placement, layering, integrating. "Placement In this initial stage, criminals try to insert monies from criminal activities into the financial system. For example, smuggling suitcases of cash across borders; using dirty money to pay off legitimate loans or credit card b