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.
Category Archives: Vermont Investment Advisor
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.
Vermont Securities Division Extends Deadline for Investment Advisers to File Form ADV Annual Amendment
March 19, 2020
In response to the COVID-19 outbreak, the Vermont Department of Financial Regulation has extended their deadline for state registered investment adviser firms to file their annual Form ADV amendment to April 30, 2020. The original deadline was March 31, 2020. Investment adviser firms registered in Vermont are encouraged to contact the Securities Division if they have questions. Questions concerning Vermont’s new deadline may be directed to 802-828-3420 or dfr.securitiesinfo@vermont.gov.
Certain State Securities Regulators Require Branch Registration for Investment Advisers
August 24, 2012
Fifteen states require investment advisers to register their branch offices with the state securities regulator. Currently, the Alabama Securities Commission, the Arkansas Securities Department, the Connecticut Department of Banking, Securities and Business Investments Division, Florida’s Office of Financial Regulation , Hawaii’s Department of Commerce and Consumer Affairs, Idaho’s Department of Finance, the Illinois Securities Department, Maine’s Office of Securities, the New Hampshire Bureau of Securities, the New Mexico Securities Division, the Ohio Department of Commerce, the Texas State Securities Board, Vermont’s Department of Financial Regulation, the West Virginia Securities Commission, and Wisconsin’s Department of Financial Institutions require investment adviser branch offices to register with state securities regulators. Some of these 15 state securities regulators require an investment adviser branch office registration fee while other states only require registration of each investment adviser branch located in their state. For state securities regulators that do charge branch office registration fees, the charges range from $20 (by the Illinois Securities Department) to $300 (by the New Mexico Securities Division). For further information on the investment adviser registration requirements in each state, refer to the North American Securities Administrators Association (“NASAA”) website.
