The Massachusetts Securities Division (the “Division”) is proposing a new rule that would prohibit investment advisor representatives from using certain professional designations implying specialized or knowledge associated with seniors.
According to the Division, this proposed rule is based on concerns about the use of designations that falsely convey a certain expertise in matters dealing with seniors and their special needs. The Division specifically cited the example of using the designation “Certified Elder Planning Specialists” (“CEPS”) as misleading and a method to disguise that the associate was an insurance agent.
Under this regulation, professional designations that are the result of a meaningful educational or training process would be exempted from the prohibition. For more information about the proposed professional designation rule for Massachusetts, pleas click here.
Posted by Bryan Hill