In light of the new investment adviser representative (“IAR”) licensing requirement of the State of New York, RIA Compliance Consultants has updated its sample compliance manual section for investment adviser representative licensing in New York.
NASAA Investment Adviser Representatives Continuing Education Model Rule Moves Closer to Implementation
January 26, 2021
The North American Securities Administrators Association (“NASAA”) recently announced an updated timeline for the implementation of its Model Rule on Investment Adviser Representative Continuing Education (“Model Rule”). Adopted on November 24, 2020, the Model Rule provides a framework for requiring investment adviser representatives registered with a state securities regulator to complete twelve hours of continuing education each calendar year. To read the Model Rule on Investment Adviser Representative Continuing Education, click here.
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.
The North American Securities Administrators Association, Inc. (“NASAA”) recently released a white paper detailing the results of a study conducted by its Senior Issues/Diminished Capacity Committee. While many investment adviser firms are increasingly aware of issues related to diminished capacity in clients, NASAA has found that not all registered investment advisers are prepared to identify and address diminished capacity among investment adviser representatives. As part of the study, NASAA surveyed a number of financial institutions and industry professionals including Bryan Hill, President of RIA Compliance Consultants, Inc.
Earlier this year, the North American Securities Administrators Association, Inc. (“NASAA”) proposed a new model rule that would require investment adviser representatives (“IARs”) to complete a specified amount of continuing education (“CE”) credits each year. The proposed model rule would apply to every IAR registered in a state that adopts the model rule, including IARs associated with state registered investment adviser firms. It would also cover IARs for federal covered advisers (i.e. SEC-registered advisers) to the extent that those IARs are registered in a given state.
February 20, 2020
On Thursday, February 20, 2020, RIA Compliance Consultants will is hosting an investment adviser compliance training webinar, “Common Questions for RCC Consultants.” During this webinar our Senior Compliance Consultants will share the most common compliance questions they receive from investment adviser clients during the past calendar quarter. Our consultants will then discuss how they have addressed these questions and will offer best investment adviser compliance practices, tips and tricks. Click here to purchase a seat for this compliance webinar.