Knowledge of Capital Markets

In this section

• SIE Regulators and Market Participants Guide
  SIE guide to the SEC, FINRA, the Federal Reserve, state regulators, clearing agencies, and other market participants in U.S. securities markets.
  • Securities and Exchange Commission (SEC)
    Understand the SEC's role, authority, and importance in U.S. securities regulation.
  • Self-Regulatory Organizations (SROs)
    Review the role of FINRA, exchanges, and other self-regulatory organizations in the securities industry.
  • State Regulators and NASAA
    Study the role of state securities regulators and NASAA in investor protection and registration.
  • Federal Reserve and Other Regulators
    Review how the Federal Reserve and other regulators affect markets and securities activity.
  • Roles of Market Participants
    Understand the roles of issuers, broker-dealers, advisers, underwriters, and other market participants.
• Market Structure and Function
  Study how securities markets are organized, how they operate, and where trades take place.
  • Primary Markets
    Review how new securities are issued and sold in the primary market.
  • Secondary Markets
    Understand how investors trade existing securities in the secondary market.
  • Third and Fourth Markets
    Review the features and purpose of alternative institutional trading markets.
  • Electronic Trading Platforms and Exchanges
    Study electronic trading venues, exchanges, ECNs, and ATSs in market structure.
• Securities Offerings
  Review public and private offerings, IPOs, follow-on offerings, and shelf registrations.
  • Public Offerings
    Understand the purpose and process of registered public securities offerings.
  • Private Placements
    Review private placements, Regulation D, and the role of accredited investors.
  • Initial Public Offerings (IPOs)
    Study how IPOs work and why they matter in capital formation and market activity.
  • Secondary Offerings
    Review follow-on equity offerings and their impact on issuers and investors.
  • Shelf Registrations
    Understand shelf registrations and how issuers can offer securities over time.
• Economic Factors
  Study the economic forces that affect securities markets, issuers, and investor behavior.
  • Monetary and Fiscal Policy
    Review how monetary and fiscal policy affect markets, interest rates, and securities activity.
  • Business Cycles and Economic Indicators
    Study business-cycle phases and the economic indicators used to track them.
  • Interest Rates and Inflation
    Understand how interest rates and inflation influence securities markets and investment decisions.
  • Currency Exchange Rates
    Review how exchange rates affect international investing and securities markets.
  • Global Economic Events
    Study how major global events can influence securities markets and investor sentiment.