The deadline to register for RIA Compliance Connection 2023 is quickly approaching. If you haven’t registered yet, now is the time to secure your spot for this exclusive compliance conference tailored for individuals affiliated with investment adviser firms.
On December 7, 2021, the Maryland Securities Division announced its new investment adviser representative continuing education requirement, joining Mississippi and Vermont 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 Maryland must now complete twelve credit hours of IAR CE on an annual basis. Of those twelve credit hours, six must be completed in “Products and Practices” and six in “Ethics and Professional Responsibilities,” with at least three focusing specifically on ethics.
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.
The Maryland Division of Securities is proposing to require all investment adviser representatives (“IARs”) registered in Maryland to complete continuing education (“CE”).
The Nebraska Department of Banking & Finance recently published proposed revisions to its rules for investment advisers under the Securities Act of Nebraska.
On June 10, 2010, the State of Washington passed new legislation designed to prevent the financial exploitation of vulnerable adults. The new legislation provides financial institutions the power to refuse to conduct a transaction if the institution suspects abuse and also requires employees of investment advisers and broker dealers to undergo abuse identification training. Section 20(16) of Chapter 74.34 of the Revised Code of Washington defines “vulnerable adult” as “a person:
