NASAA Requests Comment on Amendment to Proposed Continuing Education Model Rule for IARs

The North American Securities Administrators Association ("NASAA") requested comments on an amendment to a proposed continuing education program and model rule for investment adviser representatives ("IARs") (see previous coverage).

The proposed amendment would add a provision requiring IARs who become unregistered, and subsequently seek to re-register, to complete IAR continuing education for all reporting periods during which they were not registered. This requirement would not apply for IARs who take and pass, or receive a waiver from, the examination required under NASAA Rule 412(e)-1 ("Examination Requirements") in relation to a subsequent application for registration.

Comments on the proposed amendment must be submitted by October 22, 2020.