Category Archives: Investment Adviser Rep Continuing Education
Lawsuit Filed Against Montana for Discriminatory Investment Adviser Representative Registration Fees
January 13, 2024
Litigation Alert
According to the Daily Montanan, a class-action lawsuit has been filed against the State of Montana. This lawsuit challenges the constitutionality of a licensing fee structure imposed on non-resident investment adviser representatives and securities salespersons, alleging it violates the privileges and immunities clause of the United States Constitution.
New WSP/CoE Section Update – IAR CE
May 19, 2022
RIA Compliance Consultants has released a new WSP/CoE section update, IAR CE. This is a sample investment adviser compliance manual section related to the investment adviser representative continuing education (“IAR CE”) requirements of certain state securities regulators.
Wisconsin Adopts IAR Continuing Education Rule
March 10, 2022
Vermont Adopts IAR Continuing Education Rule
December 10, 2021
On December 9, 2021, the Securities Division of the Vermont Department of Financial Regulation announced it had adopted an investment adviser representative continuing education requirement, making it the second state to now require investment adviser representatives to complete investment adviser representative continuing education (“IAR CE”). Closely tracking the NASAA’s Model IAR CE Rule and effective for the 2022 calendar year, investment adviser representatives who are registered in Vermont must now complete 12 credit hours of IAR CE each year.
Maryland Division of Securities Proposes New IAR CE Requirement
November 03, 2021
The Maryland Division of Securities is proposing to require all investment adviser representatives (“IARs”) registered in Maryland to complete continuing education (“CE”).
RIA Compliance Consultants Approved as IAR CE Provider
October 26, 2021
We are excited to announce that RIA Compliance Consultants, Inc. has been approved as an investment adviser representative continuing education (“IAR CE”) provider by Prometric on behalf of the North American Securities Administrators Association (“NASAA”). RIA Compliance Consultants plans to offer a diverse lineup of IAR CE to help investment adviser representatives meet the regulatory obligations of the state(s) where they are licensed. Even when not required by the state securities regulator, investment adviser continuing education courses are a great training resource for investment adviser firms and their IARs.
Mississippi Adopts IAR Continuing Education Rule
July 29, 2021
Mississippi is the first state to adopt the Model Rule on Investment Adviser Representative Continuing Education (“Model Rule”) published by the North American Securities Administrators Association (“NASAA”) in 2020. Adopted without substantive changes, Mississippi’s new IAR CE rule closely tracks the Model Rule which will simplify compliance for investment adviser representatives registered in multiple states. As states continue to adopt the IAR CE Model Rule, NASAA will update its list of member states that are adopting the Model Rule.
The North American Securities Administrators Association (“NASAA”) recently published a new handbook to guide investment adviser firms and other professionals that are interested in becoming content providers under NASAA’s Model Rule on Investment Adviser Representative Continuing Education (“Model Rule”). The handbook is the most recent resource published by NASAA as it works to implement the compliance and logistical framework needed to facilitate the Model Rule. To view NASAA’s Investment Adviser Representative Continuing Education Program Handbook, click here.
