Which States Will Require IAR CE in 2023?

A total of ten jurisdictions will require registered Investment Adviser Representatives to complete NASAA IAR Continuing Education in 2023. Continue reading

If you’re an investment adviser representative (IAR), you may already be acquainted with the NASAA IAR Continuing Education requirement which went into effect this year in three U.S. states. Specifically, if you’re an IAR registered in Maryland, Mississippi, or Vermont, then you’ve probably completed the 12-credit CE requirement, or you’re planning to do so by the end of 2022.

Starting on January 1, 2023, several more jurisdictions will begin implementing the IAR CE requirement. IARs registered in any of these ten jurisdictions will be subject to the rule next year:

    • Arkansas
    • Kentucky
    • Maryland
    • Michigan
    • Mississippi
    • Oklahoma
    • South Carolina
    • Vermont
    • Washington, D.C.
    • Wisconsin

Note: Nevada and Rhode Island have informed NASAA that they plan to adopt the requirement in 2022 but haven’t finalized adoption at the time of writing. To stay updated on state adoption, visit the NASAA Member Adoption webpage.

What is the NASAA IAR CE Requirement?

The NASAA model rule requires IARs registered in jurisdictions that have adopted the rule to complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category (at least three of these must be Ethics).

Beyond these credit requirements, IARs are free to choose courses that fit their interests and business needs. But any courses taken to fulfill the IAR CE requirement must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in the Solomon IAR CE course library offer credit toward the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

What FINRA CE Changes Are Coming in 2023?

Important changes to the Regulatory Element and Firm Element components of FINRA CE are set to go into effect on January 1, 2023. Continue reading

Solomon Exam Prep previously reported FINRA’s announcement that its continuing education (CE) rules would be undergoing significant changes. One of the changes is the creation of the Maintaining Qualification Program (MQP), which went into effect on March 15, 2022. Other important changes to the Regulatory Element and Firm Element components of FINRA CE are set to go into effect on January 1, 2023.

Regulatory Element CE Changes

Regulatory Element CE is intended to keep registered persons up to date on regulatory requirements and industry standards. Currently, registered individuals must complete Regulatory Element CE every three years. Beginning in 2023, this will become an annual requirement to be completed by December 31 of each year. Additionally, individuals will have to complete CE content that is related to each registration category they hold.

If an individual does not complete Regulatory Element CE by Dec. 31, their status will show as “CE inactive.” However, FINRA reserves the right to extend the deadline if “good cause” is shown for not completing CE.

The initial annual Regulatory Element completion date will depend on an individual’s registration status. See FINRA’s Regulatory Notice 21-41 for more details.

Firm Element CE Changes

Every FINRA member firm is responsible for providing annual Firm Element CE to its registered persons. This CE is related to the firm’s securities products, services and strategies, and policies. Starting on January 1, 2023, this annual requirement will include all registered individuals, not just “covered registered persons.” Covered registered persons are registered persons who work with customers, who are registered as research analysts, and individuals who supervise such persons.

In addition, training related to the anti-money laundering compliance program under Rule 3310(e) and annual compliance meeting under Rule 3110(a)(7) will now be able to count towards an individual’s Firm Element CE requirement.

For additional reporting on FINRA’s new CE rules and to learn what Solomon Exam Prep President & Co-founder, Jeremy Solomon, has to say on the topic, check out this ThinkAdvisor article.

For more information about FINRA CE changes, see Regulatory Notice 21-41.

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MSRB Updates Continuing Education Requirements to Match Similar Changes by FINRA

The MSRB has proposed several changes to its continuing education requirements to harmonize with FINRA’s new CE requirements. Continue reading

Municipal securities professionals may soon see their continuing education (CE) requirements change to match FINRA’s requirements for others in the securities industry. The MSRB is awaiting final SEC approval for a package of rule changes that could become official as soon as September 30th.

The MSRB’s action was prompted by changes FINRA made to the CE requirements for other securities professionals. The MSRB rule changes will harmonize its CE requirements with the new FINRA requirements.

Both the MSRB and FINRA divide CE into two components, both of which must be completed in order to keep your registration active. The first component is a Regulatory Element provided by the MSRB or FINRA. The second component is a Firm Element, which firms are responsible for providing to their associated persons.

The most important changes to the MSRB’s CE requirements will include:
  • Annual Regulatory Element. Currently, the Regulatory Element of CE must be completed within two years of becoming registered, and every three years thereafter. Beginning in 2023, the Regulatory Element will need to be completed annually.
  • More Ways to Complete Firm Element. Beginning in 2023, other training may count toward satisfying the annual Firm Element, such as anti-money laundering training and annual compliance meetings.
  • Permissively Registered Persons Subject to Firm Element. Like FINRA, the MSRB will remove exemptions from the Firm Element. Beginning in 2023, any registered person must complete the Firm Element each year, including those taking advantage of permissive registration. (Permissive registration allows an employee of a municipal firm to earn and maintain a registration that does not correspond to their current job.)
  • Maintaining Qualifications Program. The rule changes will create an MSRB version of FINRA’s Maintaining Qualifications Program (MQP). Previously, a registered person who left the industry for more than two years would need to retake their qualification exams in order to resume their previous registration. The MQP permits registered persons to leave the industry for up to five years without losing these qualifications, provided that they complete CE.

Keep up on the latest industry developments with Solomon Exam Prep. Subscribe to Solomon News to be notified when a new post is published.

Solomon Exam Prep has helped thousands pass their MSRB exams, including the Series 50, Series 51, Series 52, Series 53, and Series 54. Explore Solomon’s innovative study materials at the link below.

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South Carolina Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in South Carolina must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

South Carolina has joined the growing list of states that have adopted NASAA’s investment adviser representative continuing education (IAR CE) requirement. The new CE requirement will go into effect for IARs registered in South Carolina on January 1, 2023. Arkansas, Kentucky, Michigan, Oklahoma, Washington, D.C., and Wisconsin will also begin requiring IAR CE in 2023.

Nevada and Rhode Island are also planning to adopt the IAR CE requirement. If these states finalize adoption by the end of 2022, then the requirement will begin in 2023.

The IAR CE requirement is already in effect in Maryland, Mississippi, and Vermont. This means that IARs registered in any of these states must complete CE by the end of 2022.

The NASAA model rule dictates that IARs registered in jurisdictions that have implemented the CE requirement must complete 12 credits of CE each year. Both state-registered and federal-registered investment advisers are affected by this requirement. Six of the 12 credits must be in the Products and Practices category. The remaining six credits must be in the Ethics and Professional Responsibility category, and at least three of these must be Ethics courses.

Courses must be approved by NASAA to fulfill the IAR CE requirement. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in the Solomon IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Arkansas Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Arkansas must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Arkansas is the latest jurisdiction to finalize adoption of NASAA’s new investment adviser representative continuing education (IAR CE) requirement. The CE requirement will go into effect for IARs registered in Arkansas on January 1, 2023. Kentucky, Michigan, Oklahoma, Washington, D.C., and Wisconsin will also begin implementing the requirement in 2023.

The IAR CE requirement went into effect in 2022 in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of this year.

Nevada and Rhode Island are also planning to adopt the IAR CE requirement. If these states finalize adoption by the end of 2022, then the requirement will begin in 2023.

According to the NASAA model rule, IARs registered in jurisdictions that have adopted the CE requirement must complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category, with at least three of these being Ethics.

To fulfill the IAR CE requirement, courses must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in the Solomon IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Sexual Harassment IAR CE Course Now Available

Solomon has added another Ethics and Professional Responsibility course for Investment Adviser Representatives to complete their annual IAR CE requirement. Continue reading

Solomon Exam Prep has just added a new course to its Investment Adviser Representative Continuing Education course library. The course, “Sexual Harassment: Creating a Safe Work Environment,” has been approved by NASAA and earns credit towards the new CE requirement for investment adviser representatives (IARs).

“The Sexual Harassment: Creating a Safe Work Environment course was created in direct response to requests from Solomon investment adviser customers. Solomon is pleased to be able to meet the demand for this important CE topic.”
Jeremy Solomon
Solomon Exam Prep President & Co-founder

About the Course

Employers are responsible for creating work environments where employees are safe and free from sexual harassment. Employees must also understand what sexual harassment is so that they can recognize and prevent it.

This course defines sexual harassment and provides examples that will help you learn to recognize it in the workplace. You’ll learn about the history and legal foundation of modern sexual harassment law. This includes a discussion of power dynamics and the role of gender identity. The course then introduces you to both traditional and alternative approaches to handling workplace harassment. Finally, you’ll learn about IAR disclosure requirements regarding sexual harassment and get tips for safely navigating the digital workplace.

By the end of the course, you’ll be able to do the following:
  • Define sexual harassment, recognize the two most common forms of sexual harassment, and be able to identify a variety of unacceptable workplace behaviors
  • Describe how power dynamics can be involved in sexual harassment
  • Identify different sexual harassment prevention techniques
  • Identify methods that have been shown to improve worker satisfaction regarding sexual harassment issues
  • Know the disclosure obligations of IARs with respect to sexual harassment and sexual assault
  • Identify several ways to make digital workplaces safer for all workers

The Solomon Sexual Harassment CE course is worth one credit for the Ethics and Professional Responsibility category and falls within the Ethics sub-category. IARs must complete six credits of Ethics and Professional Responsibility courses each year, with three of these being Ethics courses. The other six of the 12 required IAR CE credits must be in the Products and Practices category.

About Solomon IAR CE courses

Solomon’s online IAR CE courses are self-paced and accessible on any internet-enabled device. Each course consists of short reading passages followed by quick assessments of 2–4 questions each. This read-and-quiz format facilitates learning and retention.

All Solomon IAR CE courses earn credit towards the Products and Practices, or the Ethics and Professional Responsibility, categories required by NASAA. Once you begin a course, you have up to 365 days to complete it. When you finish a course, Solomon reports completion to FINRA, NASAA’s vendor for program tracking.

What is the IAR CE requirement?

Investment Adviser Representatives registered in a jurisdiction that has adopted and implemented the NASAA model rule must do annual continuing education. To fulfill the IAR CE requirement, IARs must complete 12 credits of continuing education each calendar year.

To learn more about the IAR CE requirement, visit the Solomon IAR CE FAQs page. Explore Solomon’s entire IAR CE course library – purchase individual courses or a membership to the whole library and complete all your IAR CE in one place.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Washington DC Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Washington DC must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Washington, DC is the most recent jurisdiction to adopt NASAA’s new investment adviser representative continuing education  (IAR CE) requirement. The new CE requirement will go into effect for IARs registered in the District of Columbia on January 1, 2023. Kentucky, Michigan, Oklahoma, and Wisconsin will also begin implementing the requirement in 2023. 

The IAR CE requirement is already in effect in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of 2022.

Arkansas, Nevada, and Rhode Island have begun the process to adopt the IAR CE requirement. If these states finalize adoption in 2022, then the requirement will be effective on January 1, 2023.

The NASAA model rule requires IARs registered in jurisdictions that have adopted the rule to complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category (at least three of these must be Ethics).

Beyond these credit requirements, IARs are free to choose courses that fit their interests and business needs. But any courses taken to fulfill the IAR CE requirement must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in Solomon’s IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Oklahoma Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Oklahoma must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Oklahoma is the most recent state to adopt NASAA’s new investment adviser representative continuing education (IAR CE) requirement. The new CE requirement will go into effect for IARs registered in Oklahoma on January 1, 2023. Kentucky, Michigan, and Wisconsin will also begin implementing the requirement in 2023.

The IAR CE requirement is already in effect in Maryland, Mississippi, and Vermont. As a result, IARs registered in any of these states must complete CE by the end of 2022.

Arkansas, Nevada, Rhode Island, and Washington D.C. have begun the process to adopt the IAR CE requirement. If these jurisdictions finalize adoption in 2022, then the requirement will be effective on January 1, 2023.

The NASAA model rule requires IARs registered in jurisdictions that have adopted the rule to complete 12 credits of CE each year. The requirement applies to both state-registered and federal-registered investment advisers. Six of the 12 credits must be in the Products and Practices category. The other six credits must be in the Ethics and Professional Responsibility category (at least three of these must be Ethics).

Beyond these credit requirements, IARs are free to choose courses that fit their interests and business needs. But any courses taken to fulfill the IAR CE requirement must be approved by NASAA. Solomon Exam Prep is a NASAA-approved CE provider, and all courses in Solomon’s IAR CE course library offer credit towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

ESG Investing and DeFi & Digital Assets CE Courses Now Available

Investment Adviser Representatives have two more Solomon continuing education courses to choose from to complete their annual NASAA IAR CE requirement. Continue reading

Solomon Exam Prep has just added two new courses to its Investment Adviser Representative Continuing Education course library! Both courses are approved by NASAA and earn credit towards the new CE requirement for investment adviser representatives (IARs).

An Introduction to ESG Investing

Curious about the increasingly popular form of investing called ESG (Environmental, Social, and Governance) investing? Solomon Exam Prep’s new continuing education course, “An Introduction to ESG Investing,” provides a helpful overview of the topic for IARs.

The course begins with a short history of the ESG movement, including the role that international and domestic governing bodies have played in jumpstarting ESG investing. The different types of ESG ratings are compared and explained. Additionally, the course describes the kinds of ESG securities offered, as well as ways to choose an ESG portfolio that aligns with an investor’s values. Finally, the course lays out the potential risks and benefits of ESG funds and common ESG investment philosophies, such as impact investing and sustainable investing.

By the end of the course, you’ll be able to do the following:
    • Briefly describe the domestic and international roots of ESG investing and how it has grown to become a prominent force for change in the US and EU
    • Identify the characteristics and examples of the types of metrics used to gauge compliance with ESG goals
    • Understand the basic differences between the several types of ESG ratings agencies
    • Describe the common types of ESG securities, such as mutual funds, ETFs and green bonds
    • Identify examples of how states have led the shift in ESG investing
    • Describe the risks and benefits of investing in ESG funds
    • Define basic terms used in ESG investing tactics, such as impact investing and sustainable investing

The Introduction to ESG Investing course is worth one credit for the Products and Practices category. IARs must complete six credits of Products and Practices courses each year, of the 12 total required credits.

DeFi and Digital Assets

If you’ve been hearing terms such as “cryptocurrency,” “DeFi (short for decentralized finance),” and “NFTs” and wondering what all the fuss is about, you’re not alone. Solomon Exam Prep’s new “DeFi and Digital Assets” continuing education course offers a look into the world of digital assets through the lens of fiduciary duty.

The course discusses examples of digital assets such as cryptocurrency, dApps, DeFi Projects, and Non-Fungible Tokens (NFTs). You’ll learn about the function of these digital assets and asset tools, as well as the benefits and drawbacks for IARs and their clients. This includes a discussion of whether IARs have the tools to provide a sufficient suitability analysis on these digital assets for their clients. The course ends with an assessment of the SEC’s regulatory framework for these assets.

By the end of the course, you’ll be able to do the following:
    • Explain the Prudent Investor Rule and identify two factors that are important in presenting a suitability analysis
    • Identify at least one advantage and one disadvantage to using a smart contract-based dApp as opposed to a traditional financial instrument
    • Compare and contrast a normal digital token with an NFT
    • Identify how digital assets present a different kind of transparency when compared with traditional financial instruments
    • Identify three differences in the risk profile of a digital asset compared to a traditional financial asset, including two difficulties associated with assessing risk
    • Explain conflict of interest that occurs due to valuation methods in digital asset portfolios

The DeFi and Digital Assets course is worth one credit for the Ethics and Professional Responsibility category and falls into the ethics sub-category. Out of the 12 total required credits, IARs must complete six credits of Ethics and Professional Responsibility courses each year. Three of these must specifically be ethics courses.

Solomon Exam Prep Investment Adviser Representative Continuing Education program
Solomon Exam Prep IAR CE course platform

About Solomon IAR CE courses

Solomon’s online IAR CE courses are self-paced and accessible on any internet-enabled device. Each course consists of short reading passages followed by quick assessments of 2–4 questions each. This read-and-quiz format facilitates learning and retention.

All Solomon IAR CE courses earn credit towards the Products and Practices or the Ethics and Professional Responsibility categories required by NASAA. Once activated, you have up to 365 days to complete a course. When you finish a course, Solomon reports completion to FINRA, NASAA’s vendor for program tracking.

What is the IAR CE requirement?

Investment Adviser Representatives registered in a jurisdiction that has adopted and implemented the NASAA model rule must do annual continuing education. To fulfill the IAR CE requirement, IARs must complete 12 credits of continuing education each calendar year.

To learn more about the IAR CE requirement, visit the Solomon IAR CE FAQs page. Explore Solomon’s entire IAR CE course library – purchase individual courses or a membership to the whole library and complete all your IAR CE in one place.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

Kentucky Adopts Continuing Education Requirement for Investment Adviser Representatives

Investment Adviser Representatives registered in Kentucky must complete NASAA-approved continuing education courses beginning in 2023. Continue reading

Kentucky is the latest state to adopt the NASAA model rule that requires investment adviser representatives (IARs) to complete annual continuing education (CE). The CE requirement will go into effect on January 1, 2023, for IARs registered in Kentucky.

Michigan and Wisconsin will also require IARs to complete CE starting in 2023.

Other states that are in the process of adopting IAR CE are Arkansas, Nevada, and Washington D.C. If these jurisdictions finalize adoption of the CE requirement in 2022, then it will go into effect in 2023.

The IAR CE requirement went into effect in Maryland, Mississippi, and Vermont on January 1, 2022. As a result, IARs registered in these states must complete CE by the end of this year. The requirement applies to both state-registered and federal-registered investment advisers.

IARs who are required to complete CE must take 12 credits of CE coursework each year. NASAA allows IARs to choose courses they’re interested in, but the courses and course provider must be approved by NASAA.

Solomon Exam Prep is a NASAA-approved CE provider, and all the courses in Solomon’s IAR CE course library earn credits towards the CE requirement. Explore Solomon’s IAR CE courses.

For more information about IAR CE, visit the Solomon IAR CE FAQs or NASAA’s IAR CE FAQs.

Disclaimer: NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.