Markets and Operations

The second Series 14 chapter moves into market conduct and trading operations. A compliance officer has to understand how orders, routing, auctions, surveillance, and broader SEC trading rules create regulatory obligations for the firm. This chapter matters because compliance is not just a back-office function. It has to operate inside the mechanics of the market.

Read this chapter as the trading-and-surveillance layer of the firm. Start with sales-practice controls, then move through trading mechanics and market rules, and finish with the SEC-rule and surveillance concepts that help the firm detect manipulation, misuse of information, or execution failures.

In this section

• Sales Practices
  Review the sales-practice conduct rules and customer-facing control logic that begin the Series 14 markets chapter.
• Trading Practices and Market Rules
  Learn how orders, modifiers, auctions, routing, and exchange-market rules fit into the Series 14 compliance framework.
• SEC Rules and Surveillance
  Review the SEC trading rules and surveillance mindset that Series 14 uses to test market-abuse detection.