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Course/Product Description
Title:

Regulators Impose Higher Duty On Financial Providers: Suitability, Know Your Customer And Customer Due Diligence Rules

SKU:WC-1022840
Date / Time: Recorded
Format: Webinar
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Description:

FINRA's know your customer rule (2090) and suitability rule (2111) and the Financial Crimes Enforcement Network customer due diligence rule (31 CFR 1010.230) materially expand the information financial services providers must obtain about their customers.

They impose greater duties on these professionals to use that information to serve their customers, monitor the risks that the customers take on and the risks these customers pose to their firms.

This webinar will summarize these rules, how they apply to financial services providers and some of the practices that can be used to meet these expanded obligations.

Agenda

Know Your Customer

  • Who Is the Customer
  • Who Has Authority to Act
  • Any Special Information
Suitability
  • Obtain Customer Financial Information
  • Three Suitability Tests
Customer Due Diligence- for Non-Individual Customer
  • Each Beneficial Owner of 25% or More
  • Chief Executive Officer
  • The Nature and Purpose of the Customer Relationship
  • Ongoing Monitoring
About The Presenter

Morris N. Simkin
  • Experienced and knowledgeable corporate and securities lawyer
  • After serving as Special Counsel with the SEC’s Divisions of Enforcement and Trading and Markets in Washington, D.C. he moved to New York
  • Has been associated with, counsel to or a partner of several major and well known law firms, before establishing his own firm
  • Clients include public and private companies, broker-dealers whom he counsels as to permitted activities and handles SEC and FINRA inspections, investigations and enforcement actions, investment advisers, hedge funds and mutual funds
  • Member of the American Bar Association, Federal Regulation of Securities, Sub-Committee on Market Regulation; member of the New York State Bar Association, Committee on Securities Regulation, Committee on Banking Law, Executive Committee of the Business Law Section
  • Regularly speaks and writes on the subject of the regulation of participants in the capital markets


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
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