The North American Securities Administrators Association is seeking comments on creating a continuing education program for investment advisor representatives.
NASAA’s board-level Investment Adviser Representative Continuing Education (IAR CE) Committee has developed a framework for a program and is working closely with NASAA’s Investment Adviser Section’s IA Regulatory Policy and Review Project Group to draft a proposed model rule to implement that framework.
Christopher Gerold, NASAA president and chief of the New Jersey Bureau of Securities, said the CE program proposes “a responsive and relevant continuing education program to help investment adviser representatives better serve their clients and keep their skills sharp by remaining knowledgeable of current regulatory requirements and best practices.”
Comments will be taken on the plan until March 30.
NASAA is proposing an annual IAR CE requirement under which IARs would be required to complete 12 total hours of CE — 6 hours focused on Products and Practice and 6 hours focused on Ethics and Professional Responsibility.
The Products and Practice component would ensure ongoing knowledge and competency related to investment products, strategies, standards and compliance practices relevant to the investment advisory industry, according to NASAA.