Effective January 1, 2022, IAR’s in adopted states are subject to new CE requirements. The North American Securities Administrators Association (NASAA) announced on November 30, 2020 the adoption of a Model Rule that NASAA members can follow in order to implement Continuing Education Programs for IAR’s in their jurisdiction. The model rule is the culmination of years of work by state securities regulators to develop a continuing education program. The continuing education requirement serves to promote regulatory compliance while also helping representatives better serve their clients by remaining knowledgeable of current best practices. Every IAR registered in a state that adopts the model rule must complete annual CE requirements.
Model Rule: Adopted States
|Maryland||January 1, 2022|
|Mississippi||January 1, 2022|
|Vermont||January 1, 2022|
|Arkansas||January 1, 2023|
|D.C.||January 1, 2023|
|Kentucky||January 1, 2023|
|Oklahoma||January 1, 2023|
|Michigan||January 1, 2023|
|South Carolina||January 1, 2023|
|Wisconsin||January 1, 2023|
What is IAR CE?
The IAR CE requirement consists of two parts totaling 12 hours of required CE to completed annually. An investment adviser must complete 6 hours of Ethics and Professional Responsibility content and 6 hours of credit relating to Products and Practices. IAR’s must complete CE courses offered by an approved CE Provider. The list of approved providers, including Success CE, can found here. FINRA registered brokers in compliance with FINRA’s CE requirements are considered to be in compliance with the Products and Practices requirement.
Rules for Completing CE
- Investment Adviser Representatives are required to complete their CE by the first calendar year following the first year they are registered.
- No excess hours completed in the current year may be carried over to the next year’s required hours.
- CE courses cannot be completed more than once even if completed in another year. Every completed course must have a unique course ID number.
- All CE courses must have an assessment of at least 10 questions. Assessments must be passed with a score of a 100% on an unlimited number of attempts.
- An IAR registered in another state who is also registered as an IAR in his or her home state is in compliance if the home state has CE requirements that are at least as stringent as the model rule and the IAR is in compliance with the home state’s IAR CE requirements.
- There are no exemptions or waivers available based on experience or other qualifications.
Course management and the tracking of completed courses is managed by Prometric LLC. For a full breakdown of the CE requirements as well as other FAQ’s click here.
If you need to complete your IAR CE see our Course Catalog for a list of approved IAR CE courses.
View State Requirements