Wisconsin has announced that it is the newest state to adopt an investment adviser representative continuing education requirement, joining Mississippi, Vermont, and Maryland to now require investment adviser representatives to complete investment adviser representative continuing education (“IAR CE”). In contrast to the states that adopted an IAR CE requirement last year, Wisconsin’s rule will not be effective until January 1, 2023.
To date, each state adopting an IAR CE requirement has closely tracked NASAA’s Model IAR CE Rule and requires state- and SEC-registered investment adviser representatives registered in an applicable state to obtain twelve credit hours of IAR CE each year. Of those twelve credit hours, six must be completed in “Products and Practices” and six in “Ethics and Professional Responsibilities.”
To the extent an investment adviser representative’s home state doesn’t have a IAR CE requirement, but the IAR is registered in Mississippi, Vermont, Maryland, or Wisconsin, then the out-of-state IAR will need to meet the IAR CE requirements of at least one state where they are registered that has CE requirements that are at least as stringent as the NASAA model rule.
As state securities regulators continue to adopt the IAR CE Model Rule, NASAA will update its list of member states that are adopting the Model Rule. Nevada, and Michigan have each indicated that they are planning to implement an IAR CE rule in 2023.
For more information on the IAR CE requirements and adoption by state securities regulators, visit our IAR Continuing Education – Frequently Asked Questions. RIA Compliance Consultants, Inc. is excited to be an approved IAR CE provider and will be announcing our course catalog (subject to approval by Prometric) in the coming weeks.
NASAA Disclosure
NASAA does not endorse any particular provider of CE courses. The content of any course offered by RIA Compliance Consultants, Inc. and any views expressed therein are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.
Contact Us
If your state registered or SEC registered investment adviser firm is an existing client of RIA Compliance Consultants and has questions about IAR continuing education, we encourage you to speak with your compliance consultant. Or, if you are not an existing client of RIA Compliance Consultants, click here to set up an introductory call with our Business Development Team.
Related Posts & Resources
Michigan Proposes IAR Continuing Education Rule for 2023 – February 22, 2022
Maryland Adopts IAR Continuing Education Rule – December 27, 2021
Vermont Adopts IAR Continuing Education Rule – December 10, 2021
Maryland Division of Securities Proposes New IAR CE Requirement – November 03, 2021
RIA Compliance Consultants Approved as IAR CE Provider – October 26, 2021
Mississippi Adopts IAR Continuing Education Rule – July 29, 2021
NASAA Publishes Handbook for Prospective IAR CE Content Providers – May 14, 2021
IAR Continuing Education – Frequently Asked Questions
WSP/CoE Section Update – IAR CE
IAR CE – Tracking Spreadsheets – March 22, 2021
NASAA Investment Adviser Representatives Continuing Education Model Rule Moves Closer to Implementation – January 26, 2021
NASAA Seeks Input on Investment Adviser Representative Continuing Education Program – September 5, 2020
NASAA Proposed Investment Adviser Representative Continuing Education Rule – May 11, 2020
General Disclosure
The information contained in this blog post is general in nature intended for educational purposes only and is not intended to be a comprehensive analysis of this topic. It is not intended to constitute compliance consulting advice or apply to any particular investment adviser firm’s specific situation. Please consult the applicable securities regulator’s rules and published guidance for more details about the topics referenced above. For more information about the limitations of this blog post and information on our website, please see our Disclosures webpage.
Posted by RCC
Labels: Continuing Education, Investment Adviser Rep Continuing Education, Wisconsin Investment Advisor
