The Nebraska Securities Bureau recently issued a special notice to all federally covered and state registered investment advisors in Nebraska requesting that “firms prohibit the use of all professional designations that state or imply a specialized knowledge of the needs of senior investors by their … investment adviser representatives registered in Nebraska. This prohibition should cover all mass mailings, advertising, business cards and letterhead of the … representative.” (The Nebraska securities regulator noted that the CFA, CFP, ChFC or CPFS are still acceptable professional designations.) This effort appears to be aimed directly at barring designations such as the Certified Senior Advisor (“CSA”). Although this special notice is crafted as a request instead of a rule, the Nebraska Securities Bureau is warning investment advisors that it will pursue enforcement actions if an investment advisor representative uses a professional designation in a manner misleading to investors.
Category Archives: Advertising
MA Proposes New Regulations on Use of Senior Designations
November 01, 2006
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.
