Understanding Mergers and Acquisitions


This course covers broker-dealer merger or acquisition transactions in which the ownership of a firm is transferred or consolidated with another entity. Such a consolidation is used as a tool for strategic management; it allows for growth or downsizing, changing the nature of a firm’s business, or improving competitive positioning. It also reviews the various rules and regulations applicable to firms involved in mergers, acquisitions, asset transfers (which may include but is not limited to registered representatives and customer accounts), and other operational changes.

Learning Objectives

Upon completion of this course, you should be able to:

Differentiate between mergers and acquisitions

Describe the requirements for broker-dealer mergers and acquisitions as specified in the regulations, specifically:

  • FINRA Rule 1017: Application for Approval of Change in Ownership, Control, or Business Operations;
  • FINRA Rule 3130: Annual Certification of Compliance and Supervisory Processes;
  • FINRA Rule 11870: Customer Account Transfer Contracts; and,

Recognize additional updates and notifications required during business restructuring

Designed For

Registered representatives 

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License or Certification