Background

The North American of Securities Administrators Association (NASAA) represents state and provincial securities
regulators in the United States, Canada and Mexico. Members of NASAA have a multifaceted mission of
protecting investors from fraud and abuse, conducting investor education, providing guidance via the established
regulatory framework, and helping power the North American economy by ensuring the integrity of the financial
markets. 

One way in which the NASAA fulfills its mission is to develop and adopt model rules. Individual states may then
adopt those rules in their own timing, in full or modified. The NASAA adopted the “NASAA Model Rule on
Investment Adviser Representative Continuing Education (Model Rule 2002-411(h) or 1956-204(b)(b)-CE)” on
November 14, 2020. Since then, individual states have started adopting this rule. California adopted this rule in
June of 2024 with a compliance date of December 31, 2024.

Who is Subject to Continuing Education

If you are an Investment Adviser Representative (IAR) licensed in a jurisdiction that has adopted IAR Continuing
Education (CE) requirements, then you must comply with that jurisdiction’s rule in the timing prescribed by that
state. California requires all IARs licensed in CA to comply with the CE requirements by December 31, 2024 and
annually thereafter.
Every IAR licensed in a jurisdiction that have adopted the model rule is subject to its CE requirements. There are
no exemptions for persons holding certain licenses or for “solicitor only” IARs in CA from the CE requirements.
However, if you have completed CE for another professional designation it may also apply for IAR CE credit; it
must be a course approved for IAR CE purposes. The requirements apply to IARs of both state-registered and SEC
registered investment advisers in that jurisdiction.
Jurisdictions that have adopted IAR CE requirements and their effective dates: https://www.nasaa.org/industry
resources/investment-advisers/investment-adviser-representative-continuing-education/member-adoption/ 

What are the Requirements

IARs must complete 12 CE credits each year to maintain their IAR registration. A “credit” is a unit to be at least 50
minutes of educational instruction. The 12 credits must include 6 credits of Products and Practices and 6 credits
of Ethics and Professional Responsibility.
Failing to complete the required CE within the required time frame will result in the IAR’s license being
terminated. If an IAR does not complete the CE requirement by the annual deadline, the IAR will pay the
registration renewal fee and CRD will set his or her IAR CE status to “CE Inactive.” The IAR can continue to do
business in this status. CE Inactive is notice to the IAR that if CE is not completed by the end of year, the IAR will
be unable to renew his or her registration. 

What Must I Do

• Set up a FinPro account: https://www.finra.org/registration-exams-ce/finpro
• Select & successfully complete courses from NASAA’s Approved Provider’s list:
https://www.nasaa.org/industry-resources/approved-iar-ce-providers/
• Ensure course completion is reported and reflected in CRD. The IAR is responsible for ensuring that the
course provider reports the IAR’s completion of the course. The IAR must provide their CRD number and first
and last name. IARs can monitor course submissions by checking their FinPro account.

 
Additional NASAA Guidance

NASAA IAR CE Page: https://www.nasaa.org/industry-resources/investment-advisers/investment-adviser
representative-continuing-education/
IAR CE FAQ: https://www.nasaa.org/industry-resources/investment-advisers/resources/iar-ce-faq/

For more information regarding IAR CE requirements, please contact:
Advisor Solutions Group, Inc.
949.400.2190
info@advisorsolutionsgroup.com
4521 Campus Dr. | # 350| Irvine, CA 92612 | 949.400.2190
www.advisorsolutionsgroup.com