As we approach the final weeks of 2023, it’s crucial for Investment Adviser Representatives (IARs) to take a moment to ensure compliance with the continuing education (CE) requirements. Staying on top of these obligations not only safeguards your professional standing but also contributes to ongoing growth and knowledge enhancement.
What are the IAR CE credit requirements?
In November 2020, the North American Securities Administrators Association (NASAA) introduced a rule that allowed states and recognized jurisdictions to implement continuing education requirements.
Under the IAR CE rules, advisers need to complete 12 credit hours through an approved course. Those 12 hours are split into two categories: six hours of Products and Practices and six hours of Ethics and Professional Responsibility.
CE programs often include a core curriculum covering essential topics such as ethics, laws, regulations and industry trends. Staying informed on these subjects not only fulfills the IAR CE requirements but ensure IARs are well-equipped to navigate the evolving financial landscape.
It’s December. How do I meet the 2023 IAR CE requirements?
We may be in the final weeks of December, but you still have time to meet the 2023 IAR CE requirements. Here are some tips:
1. Check deadlines.
Be aware of the deadline for completing CE requirements in your jurisdiction. With only a few weeks left in 2023, it’s important to prioritize any outstanding CE hours to ensure compliance.
2. Evaluate current standing.
Take stock of your completed CE hours and assess whether you need to schedule additional activities to meet the requirements. Don’t wait until the last minute to address any gaps in your CE portfolio. You can find out how many credits you have by accessing your FinPro account.
3. Explore your options.
CE requirements can often be fulfilled through a variety of methods, including seminars, workshops, conferences and online courses, like those offered on the MyRIACompliance® platform. This flexibility allows IARs to choose the format that best fits their schedule and learning preferences.
However, all IAR CE credit courses must be provided through a NASAA-approved vendor. The regulatory body provides a list of such vendors through its site, which is updated regularly.
Note: You can also use CE opportunities not just to meet requirements but also to delve into topics that can enhance your skills and knowledge. Look for courses that align with your professional interests and areas of expertise.
4. Connect with peers.
Discussing CE opportunities with colleagues or industry peers can provide valuable insights. They may recommend courses or programs that have been particularly beneficial to them.
5. Keep track of the CE courses you complete.
It’s crucial to keep detailed records of all CE activities as you complete them. You may be required to provide proof of completion in the form of certificates or transcripts. Being proactive in maintaining these records can save time and hassle when it comes to reporting compliance.
As the calendar year draws to a close, IARs should prioritize meeting the 2023 CE requirements to maintain their professional standing and uphold the highest standards in the financial services industry. By staying proactive, engaging in relevant educational opportunities and ensuring timely compliance, IARs can continue to thrive in their roles and contribute to the success of their clients and the industry as a whole.
Continuing Education with Confidence
The COMPLY’s IAR Continuing Education solution, offered through the MyRIACompliance® platform, provides a plethora of on-demand course options that you can take at your own pace and on your own schedule, each created by former regulators, compliance consultants and cybersecurity experts.
As the year comes to a close and the regulatory landscape continues to evolve, you cannot afford to fall behind. By choosing COMPLY, you gain a trusted and reliable partner and guide.
Want to complete your registration requirements on your own time? Click here to explore COMPLY’s IAR Continuing Education solution and get started today.