PFP Regulatory and Fiduciary Landscape

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Overview

2.0 Credits
ONLINE

The regulatory and fiduciary landscape for personal financial planning is complex. Individuals who want to practice in this discipline face a challenging regulatory maze. SSPFPS-No. 1 provides a roadmap to traverse this maze. Because the discipline of personal financial planning is not yet a recognized profession, anyone can say he or she provides "personal financial planning services." Individuals who hold themselves out as "personal financial planners" are regulated based only on the products they sell or the services they offer. Therefore, an understanding of the regulatory landscape is crucial to effectively practice the discipline of personal financial planning. SSPFPS No. 1 is the starting point for the CPA financial planner faced with this dilemma.

Further, this course will discuss the regulatory landscape, the fiduciary duty of the financial planner, registration and licensing requirements, and professional liability and compliance requirements that planners must understand and adhere to, in order to effectively provide financial planning services.

Objectives

  • Recognize who may provide personal financial planning services.
  • Identify the determining factor for how a personal financial planner is regulated.
  • Select which securities Act is also known as the "truth in securities" law.
  • Identify what constitutes compensation for a registered investment adviser.
  • Select the regulatory exclusion that exempts an adviser from registering as an investment adviser.
  • Choose which government agency is tasked with the enforcement of the Securities Act of 1933.

Major Topics

This course covers some of the laws that govern the securities industry, including:

  • Securities Act of 1933
  • Securities Exchange Act of 1934
  • Investment Company Act of 1940
  • Investment Advisers Act of 1940

Designed For

CPAs and financial planners with basic knowledge of financial planning and an interest in personal financial planning

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