Also, a related Information Memo was issued recently announcing netCEPSM to Members and Member Firms. To access the memo, click here.
netCEPSM provides both individuals and Member Firms secure, on-demand, Internet access to a library of instructional materials that serve as a resource for Regulatory Element preparation, Firm Element planning and general rule, product and compliance training.
The two elements are parts of the Securities Industry Continuing Education Program. The Regulatory Element training is continuously updated as regulatory issues, financial products and trading strategies evolve. The Firm Element is designed and administered by Firms in order to keep registered personnel current on job- and product-related developments.
The netCEPSM scenario library includes materials from the S201 Supervisors Program for registered principals and supervisors, the S106 Investment Company Representatives Program for Series 6 registered persons, and the S101 General Program for Series 7 registered persons, and all other registration categories.
With desktop access to the multi-media scenario library and Learning Management System, securities-industry professionals can update their knowledge on rules governing a wide range of practice areas. These subjects include suitability and sales practices, breakpoints, options, public communications, proper handling of customer accounts, business conduct, and trade and settlement practices. The material in the scenario library is continuously updated to reflect current industry regulations.
An individual can subscribe at a cost of $25 per year and access netCEPSM on their own to prepare for a required Regulatory Element session, or for personal training and development.
Under recent rule changes, all registered persons who were previously exempt from the Regulatory Element Program due to a grandfathered or graduated status are now required to participate in the Regulatory Element Continuing Education Program.
When deployed across a Member Firm, netCEPSM offers the Learning Management System (LMS) that includes training-management tools and reports. A firm-designated administrator can use the LMS to select and assign specific scenarios for individuals or groups. The system also can create and manage lesson plans to focus on specific topics, and package and deliver a firm’s customized training.
The LMS also tracks completion and scoring results of assignments, and generates reports to meet books-and-records requirements. The cost for firms ranges between $7.50 and $25.00, depending on the number of individuals and services selected.
For more detailed information about netCEPSM, including technical specifications, requirements and costs, or to access a scenario from each program on a trial basis, please visit: www.netceponline.com .
For more information about The Securities Industry/Regulatory Council on Continuing Education or Regulatory and Firm Element requirements, please visit: www.securitiescep.com.
About NYSE Regulation
On December 17, 2003, the SEC approved a new governance structure for the NYSE. Under the new design, the NYSE Board of Directors is comprised solely of independent directors, except for the chief executive officer, who have no affiliation with any regulated member firm. A new position of chief regulatory officer was created and reports directly to the board of directors through a new Regulatory Oversight Committee. As a result, NYSE Regulation is insulated from potential influence from NYSE members and member firms, operates separately from the business side and is independent in its decision-making.
NYSE Regulation plays a critical role in monitoring and regulating the activities of its members, member firms and listed companies, as well as enforcing compliance with NYSE rules and federal securities laws. Nearly 400 of the largest securities firms in America are members of the New York Stock Exchange. These firms service 98 million customer accounts, or 84 percent of the total public customer accounts handled by broker-dealers, with total assets of over $4 trillion. They operate from 20,000 branch offices around the world and employ 144,000 registered personnel.
Nearly 700 employees, or more than 40 percent of the Exchange’s staff, work for NYSE Regulation, which consists of four divisions: Market Surveillance, Member Firm Regulation, Enforcement and Listed Company Compliance, as well as a Risk Assessment Unit and Dispute Resolution/Arbitration.
