Domain 6: Training

Body of Knowledge

The Training Curriculum will identify key securities industry continuing education and related requirements that compliance professionals are responsible for implementing and overseeing.  Other elements of the Job Analysis cover key aspects of the end-to-end Compliance process (i.e., monitoring rules and regulatory bulletins to keep up-to-date as laws, rules and regulations change), and we do not wish to duplicate that content in this Training Domain.  Therefore, our focus will be on education that results from necessary training on Compliance policies and procedures that are created as a result of laws, rules and regulations. Continuing Education plays an important role in a sound compliance management program. Training employees to understand and follow policies and procedures that are based on rules and regulations helps the firm ensure compliance throughout the organization.

Readings

1.	NASD Rule 1120. Continuing Education Requirements
2.	Securities Industry Regulatory Council on Continuing Education, “Continuing Education Brochure”
3.	NASD Rule 3010(a)(7) - Annual Compliance Meeting
4.	NASD Interpretive Letter, NASD Rule 3010(a)(7) – Annual Compliance Meeting

Learning Objective

The candidate should be able to demonstrate a thorough knowledge of the principal education requirements of compliance professionals and the process for implementing these requirements. 

Learning Outcomes

Subdomain A. Compliance Education
NASD Rule 3010(a)(7) - Annual Compliance Meetinge
NASD Interpretive Letter, NASD Rule 3010(a)(7) – Annual Compliance Meeting

After reading this rule and Interpretive Letter, candidates should be able to:

• summarize the Annual Compliance Meeting requirement (Knowledge and Comprehension)
• explain the process for the preparing and delivering the Annual Compliance Meeting (Application and Analysis)
• discuss the steps a firm should take to train its staff on Compliance policies and procedures that are put in place to comply with laws, rules and regulations

Subdomain B. Continuing Education
NASD Rule 1120. Continuing Education Requirements
Securities Industry Regulatory Council on Continuing Education, “Continuing Education Brochure”"

After reading this rule and CE Brochure, candidates should be able to:

• describe the two elements of the NASD Continuing Education requirements for broker-dealers (Knowledge and Comprehension)
• discuss the key elements for the Regulatory Element (Knowledge and Comprehension)
• list key components of the process, including effective controls, for implementing the Regulatory Element (Application and Analysis)
• discuss the process for the Firm Element (Knowledge and Comprehension)
• describe the steps each broker-dealer should take in preparation of the Needs Analysis and written Firm Element Training Plan (Application and Analysis)