SDDco Perspective Newsletter

NASAA to Require Continuing Education for Investment Adviser Representatives

Casey Muller
Director of Legal & Internal Compliance

Casey Muller

The North American Securities Administrators Association (NASAA) has adopted a model rule requiring state registered investment adviser representatives (IARs) to take 12 hours of continuing education a year. The curriculum requirement is 6 credits related to financial products and practices and 6 credits for ethics. To this point, IARs had not been subject to a continuing education requirement to maintain their state licenses. With the parameters set in this model rule, state regulators can decide whether to implement such requirements in their jurisdiction.

Website- NASAA Members Adopt Model Rule to Require Continuing Education by Investment Adviser Representatives

PDF - NASAA Model Rule on Investment Adviser Representative Continuing

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We will support your firm’s ongoing compliance with the Investment Advisers Act and associated state requirements including:

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Broker-Dealer Membership and Compliance

The SDDco Group, through its subsidiary, SDDco Regulatory Services provides full-service compliance consulting to both new and established broker-dealers (BDs) and Investment Advisers (IAs). This month, we are highlighting our broker-dealer practice.

What Services Do We Provide To BDs?

Our team of experienced consultants assist BDs seeking:

  • Ongoing regulatory compliance advice and support
  • CRD Registration Services
  • A qualified Series 24 registered consultant to serve as the designated Chief Compliance Officer (CCO) or other Principal roles
  • FINRA New or Continuing Membership Applications, Materiality Consultations, and Membership Agreement Changes

Why Should You Hire an SDDco Compliance Consultant for Ongoing Compliance Support?

We are experienced in providing ongoing support to broker-dealers of many stripes and sizes and our services are highly specialized. Our consulting team understands the business implications of complying with industry rules. We use that lens to determine the best advice for our client partners on how to remain compliant. SDDco-RS offers a suite of compliance services on a retainer or project basis which always encourages frequent communication with our clients.

Why Should You Hire an SDDco Compliance Consultant for FINRA Membership Applications?

FINRA New Membership Application (NMA) requirements are extensive and exacting. SDDco Regulatory Services shepherds the entire process. Success hinges on understanding the client’s business, developing a clear and consistent presentation to the regulator and formulating appropriate responses to FINRA information requests. Our consultants are skilled and uniquely experienced in this meticulous process, having represented hundreds of firms of varying size and structure. SDDco-RS also assists with the FINRA Continuing Member Application (CMA) process as it relates to changes in your current business.

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