The North American Securities Administrators Association (“NASAA”) recently published a new handbook to guide investment adviser firms and other professionals that are interested in becoming content providers under NASAA’s Model Rule on Investment Adviser Representative Continuing Education (“Model Rule”). The handbook is the most recent resource published by NASAA as it works to implement the compliance and logistical framework needed to facilitate the Model Rule. To view NASAA’s Investment Adviser Representative Continuing Education Program Handbook, click here.
To meet the new demand for investment adviser representative continuing education (“IAR CE”) courses, any investment adviser firm, individual, education vendor or state to apply to NASAA is eligible to apply for approval as an IAR CE content provider. Once approved, an IAR CE content provider must submit each IAR CE course for review and approval before the course can be offered for IAR CE credit to investment adviser representatives.
Contents of the Handbook
An investment adviser firm interested in becoming an IAR CE content provider should carefully review the handbook, which contains a wealth of resources to help prospective content providers efficiently navigate the new IAR CE system. In particular, the handbook covers:
• An overview of general provider requirements;
• Detailed instructions regarding the content provider and course approval process;
• Detailed instructions regarding course instructor requirements and application process;
• An overview of course management, content and delivery requirements for content providers;
• An overview of course renewal procedures and fees;
• Detailed communication guidelines for contacting NASAA and/or Prometric, the IAR CE course management vendor;
• An overview of audit procedures for course providers, instructors, and content;
• Overview of the appeals process for content provider/course instructor applications or for unsatisfactory audit findings; and
• A detailed description of the mediation process for alleged noncompliance or nonperformance by a course provider or instructor.
If your state registered or SEC registered investment adviser firm is an existing client of RIA Compliance Consultants and has questions about NASAA’s 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.
Related Posts & Resources
IAR Continuing Education – Frequently Asked Questions
IAR CE – Tracking Spreadsheets – March 22, 2021
NASAA Investment Adviser Representatives Continuing Education Model Rule Moves Closer to Implementation – January 26, 2021
NASAA Seeks Input on Investment Adviser Representative Continuing Education Program – September 5, 2020
NASAA Proposed Investment Adviser Representative Continuing Education Rule – May 11, 2020
The information contained in this blog post is general in nature intended foreducational purposes only and is not intended to be a comprehensive analysis of this topic. It is not intended to constitute compliance consulting advice or apply to any particular investment adviser firm’s specific situation. For more information, please see our Disclosures webpage.
Posted by Grant Parr
Labels: Compliance Training, Investment Adviser Rep Continuing Education, Investment Adviser Representative, NASAA
Tagged: Investment Adviser Rep Continuing Education, Investment Adviser Representative, nasaa, Training