Washington Securities Division is Scrutinizing Professional Designations that Imply Expertise with Seniors

August 10, 2007

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The State of Washington’s Securities Division is currently seeking comments regarding the possible regulation of professional designations by investment adviser representatives related to senior citizens. It appears that the Washington Securities Division might be following the lead of many other state securities regulators that have expressed concern about the use of a professional designation that implies a special expertise, training or experience in dealing with seniors when in fact the investment adviser representative utilizing such a designation does not possess such expertise, training or experience with seniors. Even if your state securities regulator hasn’t adopted a senior professional designation rule, you should exercise caution about using certain senior related professional designations if you’re registered as an investment adviser representative since your state securities regulator may attempt to argue that your use of such designtations is a material misrepresentation in violation of the state securities act.

Posted by Bryan Hill
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