Study for the Series 6 Exam

Taking the Series 6 Exam to be licensed and registered to sell mutual fund shares and variable annuities? Then you might be interested in the following: The SEC charges Joshua Goltry and his investment advisory firm, JAG Capital Advisors LLC, with hyping the value of the JAG Fund by "lying about nearly every aspect of the fund, including its performance, investment activity, and investment risks," and using investor money to pay for his own lavish life style. FOR IMMEDIATE RELEASE 2024-72 Washington D.C., June 12, 2024 — The Securities and Exchange Commission today charged Joshua Goltry and his investment management firm, JAG Capital Advisors LLC (JAG Advisors), in connection with a three-year scheme to defraud investors of at least $3 million. According to the SEC’s complaint, from 2020 to 2023, Goltry, the founder and Chief Investment Officer of a purported equity fund called JAG Cap, LLC, and JAG Advisors, the purported equity fund’s investment manager, raised at least $3 ...

  The Series 6 Exam covers SEC Rules including Regulation S-P on the privacy of consumer financial information and the safeguarding of customers' personal information. FINRA specifically lists Regulation S-P in its Series 6 Content Outline in Section 2.2. Recently the SEC has amended Regulation S-P "to  address the expanded use of technology and corresponding risks that have emerged since the Commission originally adopted Regulation S-P in 2000."  The amendments cover situations where computer hackers unlawfully view, copy or steal  a firm's customer accounts records . Brokerage and advisory firms, including mutual fund firms, are required to detail steps in writing to be taken when a brokerage firm suffers such a break-in. Firms must also report such events to the SEC as soon as possible, but no later than 30 days of occurrence. Furthermore, firms must notify customers whose accounts are, or reasonably likely to be, among those breached or stolen. Here's how the ...

      If you intend to sit for the Series 6 Exam, make sure that you are familiar with securities in the Money Market and the Capital Markets. The Money Market means the market for short-term debt securities, such as T Bills, commercial paper, brokered certificates of deposit, and bankers acceptances. In contrast the Capital Markets designate the markets for long-term debt and equity securities. FINRA publishes a Content Outline for the Series 6 Exam, and in Section 3.2, FINRA requires  knowledge of Treasury securities, other money market instruments, and U.S. government agency securities. Bob Eder in his Study for the Series 6 Exam devotes Chapter 7 to  Equity Securities, Debt Securities, Options, Treasury Securities, U.S. Agency Securities, Money Market Instruments, Corporate Debt, and Money Market Instruments.  Study for the  Series 6  Exam  is available from Amazon in both paperback and Kindle e-book versions.  Here is the link...

Taking the Series 6 in the near future? If so, then you should know that the SEC has changed the rules governing Regular-Way Settlement from two business days to only one business day.  Regular-Way Settlement  will be T+1, not T+2. The effective date of this rule change is one week from tomorrow, or May 28, 2024. Furthermore, the rules of the Fed for payment in both cash and margin accounts now becomes three business days following trade date, or T+3. The former Fed rule was T+4. Make sure that you know these new rules. Regular-Way Settlement is important for those planning to sit for the Series 6 Exam. FINRA publishes a Content Outline for the   Series 6 , and you can find the provisions of Regular-Way Settlement in Section IV (4.1) Study for the  Series 6  Exam  is available from Amazon in both paperback and Kindle e-book versions.  Here is the link to Bob Eder's  Study for the Series 6 Exam  on Amazon . See   Bob Eder's Author Page ...

Plan on taking the Series 6 Exam? Yes? Then be prepared for questions about requirements for advertising rankings of investment companies or mutual funds. Why do I say this? Answer—because FINRA's Content Outline for the Series 6 Exam includes Section 1.1 that requires knowledge of "product specific advertisements and disclosures on investment company products and variable contracts." FINRA Rule 2212 defines a "Ranking Company" as an entity not controlled by or affiliated with but independent of an investment company, and whose rankings are not ordered or paid for by the investment company. Or in other words, the Ranking Company has no ties to the investment company in any way. Therefore, the general rule is that a registered rep may not use or send out rankings of an investment company that are self-created or created by the investment company itself. Bob Eder in his Study for the Series 6 Exam talks about  Investment Company Performance Rankings  in his Chapt...

Planning to sit for the Series 6 in the near future? Don't go into the Series 6 Exam without careful preparation and study of FINRA's Rule 2210 on Retail Communications and required standards and content for Public Appearances. Why? Because FINRA tells us that this is an important subject in its Series 6 Content Outline. Bob Eder in his Study for the Series 6 Exam devotes all of Chapter One to FINRA's rule on retail communications and required standards for communicating with retail customers. Here's a section from FINRA Rule 2210 on Public Appearances: "Public Appearances (1) When sponsoring or participating in a seminar, forum, radio or television interview, or when otherwise engaged in public appearances or speaking activities that are unscripted and do not constitute retail communications, institutional communications or correspondence ("public appearance"), persons associated with members must follow the standards of paragraph (d)(1). (2) If an asso...