Chapter 16

No Fooling Around: Rules and Regulations


Bullet Meeting the self-regulatory organizations

Bullet Opening and handling customer accounts

Bullet Playing by the rules

Bullet Reviewing additional topics tested

First off, I’d like to apologize for having to include this chapter. Unfortunately, rules are a part of life and part of the SIE. When you’re reading this, please remember that I didn’t make the rules — but I do my best to make them as easy to digest as possible. Rules have become increasingly important on FINRA securities exams like the SIE, especially since the Patriot Act came into the picture.

In this chapter, I cover topics related to rules and regulations. First, I help you understand who the guardians of the market are and their roles in protecting customers and enforcing rules. I also place considerable emphasis on opening, closing, transferring, and handling customers’ accounts. And of course, I provide practice questions to guide you on your way.

The Market Watchdogs: Securities Regulatory Organizations

To keep the market running smoothly and to make sure investors aren’t ...

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