STUDY FOR THE SECURITIES INDUSTRY ESSENTIALS EXAM (SIE) EXAM

FINRA makes available a Content Outline for the Securities Industry Essentials (SIE) Exam for those planning to sit for the exam. This Content Outline describes the subject matter of the SIE Exam. The SIE Content Outline includes Section 3.2.4 which covers Books and Records Regulations, and it encompasses the use of social media to communicate with clients, digital messaging, and internet communications. From time to time, the SEC issues press releases about penalties and charges brought against broker/dealers and advisers. Here is a recent one that imposes penalties on 10 firms for inadequate Record-Keeping of electronic communications, called "Off-Channel Communications." We include the SEC Release here because it demonstrates that a broker or adviser must treat the rules as having real life consequences, potentially bringing serious penalties and large fines for non-observance. Students who plan on sitting for the SIE Exam should pay careful attention to the SEC Release as...

For those who are planning to sit for the Securities Industry Essentials (SIE) Exam to become registered stock brokers, here is an interesting release from the SEC about Insider Trading by someone who the SEC alleges is a "serial insider trader." SEC Charges Florida Investment Adviser a Second Time for Insider Trading Wellington resident agrees to pay a penalty equal to three times his unlawful profits to settle charges FOR IMMEDIATE RELEASE 2023-145 Washington D.C., Aug. 2, 2023 — The Securities and Exchange Commission today filed insider trading charges against Charles Rustin Holzer, a family office executive and former broker who last year settled SEC charges that he traded in options of Dun & Bradstreet Corp. (DNB) on inside information. The SEC’s latest complaint alleges that, in addition to the options trades that were the subject of the SEC’s prior lawsuit, Holzer also placed unlawful trades in DNB stock through offshore accounts that were not disclosed to the SEC ...