Investment Adviser Representative (IAR) Continuing Education Coming to WebCE

by Julie S. Mendel, SILA-A, CDEi | Dec 22, 2020

Coming Soon to WebCE: Investment Adviser Representative (IAR) Continuing Education

Investment adviser representative continuing education coming soon

The North American Securities Administrators Association (NASAA) has officially adopted a model rule to set the parameters by which NASAA members could implement continuing education (CE) programs for investment adviser representatives (IARs) in their jurisdictions. Unlike other financial service professions, IARs have previously not been subject to a continuing education requirement to maintain their registrations with state regulators. The model rule will help NASAA members close this gap by requiring IARs to take 12 hours of continuing education annually.

WebCE is primed to help fill that gap by offering IARs a convenient option to complete their continuing education online. Our expertise in Firm Element, securities, insurance, and professional designations along with our years of experience with course submissions and reporting to regulators, has positioned WebCE to begin offering Investment Adviser CE as soon as courses can be approved.

“We have been watching and waiting for NASAA to adopt this rule since it was first proposed,” says Julie S. Mendel, SILA-A, CDEi, Sr. Product Manager of Securities Training Solutions at WebCE. “We have already started putting together a curriculum to meet the requirements, and we are excited for the opportunity to be one of the first providers to offer continuing education for investment adviser representatives.”

WebCE’s Investment Adviser Representative CE course catalog is expected to be available in early 2021.

About the NASAA Continuing Education Model Rule

According to the NASAA, the new model rule is a result of several years of work by the NASAA Investment Adviser Representative Continuing Education Committee, chaired by Linda Cena, Examination and Licensing Manager for the Michigan Corporations, Securities & Commercial Licensing Bureau.

“This model rule represents the culmination of years of work by state securities regulators and industry to develop a relevant and responsive continuing education program,” said Lisa A. Hopkins, NASAA President and West Virginia Senior Deputy Securities Commissioner. “This successful collaboration will help promote heightened regulatory compliance while also helping investment adviser representatives better serve their clients by remaining knowledgeable of current regulatory requirements and best practices.”

The model rule has a products and practices component and an ethics component and is intended to be compatible with other continuing education programs. The required 12 annual continuing education hours are divided between the two components:

(A) IAR Ethics and Professional Responsibility Requirement. An investment adviser representative must complete six (6) Credits of IAR Regulatory and Ethics Content offered by an Authorized Provider, with at least three (3) hours covering the topic of ethics; and

(B) IAR Products and Practice Requirement. An investment adviser representative must complete six (6) Credits of IAR Products and Practice Content offered by an Authorized Provider.

The full model rule can be read online at the NASAA’s website.