IAR Continuing Education
12 credits a year: 6 Products and Practice, 6 Ethics and Professional Responsibility.
What is IAR Continuing Education?
Under NASAA's model rule, adopted by a growing number of states, IARs must complete 12 credits each year: 6 in Products and Practice and 6 in Ethics and Professional Responsibility. The split is mandatory - 12 credits in the wrong mix do not satisfy it. An IAR who falls short cannot renew until the shortfall is made up.
IAR Continuing Education: a worked example
An IAR who completes 8 Products and Practice and 4 Ethics credits has not met the year's requirement.
More terms in Uniform Securities Act & Registration
Uniform Securities Act (USA)
The model state securities law most states' 'blue sky' statutes are based on.
State Securities Administrator
The official or agency that enforces a state's securities act.
Person (USA Definition)
Anyone who can be held legally responsible - individuals and organizations.
Investment Adviser (USA Definition)
Advises on securities, as a business, for compensation.
Excluded from the Investment Adviser Definition
Banks, incidental professionals, broker-dealers, and publishers are not advisers at all.
Exemptions from State Adviser Registration
An adviser with no office in the state and only institutional or very few clients there.
De Minimis Exemption
No place of business in the state and fewer than 6 clients there in 12 months.
Federal Covered Adviser
An adviser registered with the SEC rather than the states.
All Uniform Securities Act & Registration terms · Full glossary