NASAA Seeks Input on Investment Adviser Representative Continuing Education Program

September 05, 2020

The North American Securities Administrators Association, Inc. (“NASAA”) is currently seeking input from NASAA members (i.e., state and provincial securities regulators) and other industry professionals, including registered investment advisers and their representatives regarding potential content for classes in its proposed investment adviser representative continuing education program. NASAA intends to utilize survey responses for design and implementation of the proposed IAR continuing education program.

IAR continuing education topics available for consideration include Suitability Documentation, Record Keeping, Contract Review, Conflicts of Interest, Account Opening Documents, Trade Authorization, Invoicing, Performance Reports, Advertising,Fraudulent Practices, Custody, and Fiduciary Responsibility. The survey permits participants to quickly indicate their level of interest in each topic, and does not require additional or free form comments from survey participants.

To visit NASAA’s website and complete the short survey, click here. Responses are anonymous and must be received by September 21, 2020.

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NASAA has not finalized the proposed model rule for IAR continuing education and is currently evaluating public comments and developing the framework needed to implement the rule. Before the proposed model IAR CE rule could become effective in any state, it must be finalized by NASAA, which will then recommend the model rule for adoption by states. Full implementation of the proposed model rule, which requires NASAA to review and approve courses and also requires coordination with FINRA’s IARD system for tracking and reporting CE credits, is not expected prior to 2021.

If your state registered or SEC registered investment adviser firm is an existing client of RIA Compliance Consultants and has questions about NASAA’s Proposed Model Rule for IAR Continuing Education, we encourage you to speak with your compliance consultant. Or, if you are not an existing client of RIA Compliance Consultants, click here to set up an introductory call with our Business Development Team.

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Labels: Investment Adviser Rep Continuing Education, NASAA