This second micro-course in the wire series provides an introduction to the legal framework that governs wire transfers and explain the differences between a rule, law and a regulation. Participants will learn the regulatory components that apply to initiating, receiving and processing a wire transfer transaction, as well as the regulatory requirements under Regulation E, Subpart B that specifically apply to international, consumer-initiated wire transfers. After completing this course, participants will be able to identify the requirements that impact financial institutions when processing wire transfer transactions and understand when they must adhere to them. Wires 101 - Fundamentals is recommended as a pre-requisite to this course.