STUDY FOR THE SERIES 66 EXAM

  If you plan to sit for the Series 66 exam, make sure that you are familiar with the SEC's policy on    Ethical Practices and Fiduciary Responsibilities , what they are and how you can avoid violating them.  Bob Eder in his  Study for the Series 66 Exam  devotes a whole chapter to Ethical Practices and Fiduciary Responsibilities. Here is an interesting news release from the SEC describing one investment adviser's taking undisclosed monies from a movie producer as compensation for recommending investing in films of that production company. Warning: Don't take undisclosed money or compensation in return for steering your clients to specific investments! SEC Charges Hudson Valley Wealth Management Advisory Firm and  Founder for Failing to Disclose Conflicts of Interest Firm owner received undisclosed fee for investing clients’ money in films FOR IMMEDIATE RELEASE 2024-55 Washington D.C., May 14, 2024 — The Securities and Exchange Commission today announc...

The SEC proposes new rules on reducing the chances for conflict of interest when advisers and brokers use predictive analysis or A.I. programs as a basis for choosing profitable investments. Here's what a recent SEC news release says about the proposed rule: FOR IMMEDIATE RELEASE 2023-140 Washington D.C., July 26, 2023 — The Securities and Exchange Commission today proposed new rules that would require broker-dealers and investment advisers (collectively, “firms”) to take certain steps to address conflicts of interest associated with their use of predictive data analytics and similar technologies to interact with investors to prevent firms from placing their interests ahead of investors’ interests. . . .  The use by broker-dealers and investment advisers of technologies to optimize for, predict, guide, forecast, or direct investment-related behaviors or outcomes has accelerated. Use of such technologies can be beneficial to investors in providing greater market access, efficiency, ...