Learn the net-capital, customer-protection, margin, and credit-regulation concepts Series 14 expects compliance officers to understand.
The fourth Series 14 chapter covers capital and credit at a concept level rather than at full FINOP depth. The compliance officer needs to understand how net capital, customer protection, margin, and credit-extension rules create compliance risk for the firm. The exam uses this material to make sure the compliance officer can recognize when business activity affects the firm’s financial-responsibility posture.
Read this chapter as the financial-responsibility awareness layer. Start with capital and notification concepts, then move into margin, day trading, and other credit-regulation topics that can change how the firm operates and what it must supervise.
| Skill | Exam use |
|---|---|
| Recognize financial-responsibility triggers | Spot net capital, customer protection, custody, margin, or credit-extension facts. |
| Understand compliance escalation | Decide when the issue should move to financial operations, supervisory, legal, or regulatory reporting channels. |
| Keep the scope realistic | Study this at compliance-officer depth, not as a full FINOP calculation exam. |
Use these section lessons as the main reading path for this Series 14 function. They connect compliance-officer judgment to exact tested controls, escalation points, records, and remediation evidence.
| Section | Lesson |
|---|---|
| 4.1 | Capital Requirements |
| 4.2 | Credit Regulation |