NEWS RELEASE | FOR IMMEDIATE RELEASE | October 10, 2023
Bismarck ND – North Dakota Securities Commissioner Karen Tyler has issued an order under NDCC 10-04-02(3) implementing the new continuing education requirement for investment adviser representatives under 10-04-10(5) which was passed by the 68th legislative assembly earlier this year. The new continuing education requirement is effective beginning January 1, 2024.
“This continuing education requirement will facilitate heightened regulatory compliance while also helping investment adviser representatives better serve their clients by ensuring they remain knowledgeable of current regulatory requirements and industry best practices,” said Commissioner Tyler.
The Order requires every investment adviser representative registered in North Dakota to annually complete 12 continuing education credits to maintain their investment adviser representative registration. The 12 credits must include six credits of Products and Practices courses and six credits of Ethics and Professional Responsibility courses. Investment adviser representatives registered in North Dakota will begin taking and reporting continuing education courses during the 2024 calendar year.
The Order takes into consideration other continuing education programs mandated for investment adviser representatives that are dually registered as agents of broker-dealers, and investment adviser representatives who hold professional designations that require the completion of continuing education. The new requirement is intended to be compatible with other continuing education programs that seek to ensure professionals stay current with industry matters relevant to the services and products offered to their clients.
Investment adviser representatives must complete courses delivered by course providers that meet specific criteria established by the North American Securities Administrators Association (NASAA). This information can be found on NASAA’s website, and the North Dakota Securities Department recommends investment adviser representatives frequently view the website for updates and information related to course availability.
For More Information Contact:
North Dakota Securities Department
Cody Schmidt, Investigator/Examiner | 701-328-4703