Compilation of Rules and Regulations of the State of Georgia
Rule 590-4-4-.09 - Examination Requirements

Current through Rules and Regulations filed through September 25, 2023

(1) Unless otherwise waived by the Commissioner, an investment adviser, registered or required to be registered pursuant to Section 10-5-32, or an investment adviser representative, registered or required to be registered pursuant to Section 10-5-33, shall take and pass within the two-year period immediately preceding the date of the application, except in regards to the Securities Industry Essentials (SIE) Exam which the applicant shall take and pass within the four-year period immediately preceding the date of the application:

(a) The Uniform Investment Adviser State Law Examination (Series 65); or

(b) The Uniform Combined State Law Examination (Series 66), the Securities Industry Essentials (SIE) Exam, and the General Securities Representative Examination (Series 7/S7TO).

(2) In the event the applicant for registration as an investment adviser is an entity, rather than an individual, the examination shall be taken on behalf of the applicant by one of its officers, a general partner, a manager, or other managing executive of comparable status and position.

(3) Any person who has been registered as an investment adviser or an investment adviser representative in any state requiring the licensing, registration or qualification of investment advisers or investment adviser representatives within the two year period immediately preceding the date of filing an application shall not be required to comply with the examination requirement set forth in subsection (1) of this Rule.

(4) Compliance with subsections (1) and (2) of this Rule is waived if the applicant has been awarded any of the following designations and, at the time of filing an application, is current and in good standing:

(a) Certified Financial Planner (CFP) awarded by the Certified Financial Planners Board of Standards;

(b) Chartered Financial Consultant (ChFC) or Masters of Science and Financial Services (MSFS) awarded by the American College, Bryn Mawr, Pennsylvania;

(c) Chartered Financial Analyst (CFA) awarded by the Institute of Chartered Financial Analysts;

(d) Personal Financial Specialists (PFS) awarded by the American Institute of Certified Public Accountants; or

(e) Chartered Investment Counselor (CIC) awarded by the Investment Adviser Association.

(5) An applicant shall not be required to meet the examination requirement in subsection (1) of this Rule if:

(a) The applicant is an agent for a broker-dealer that is also registered as an investment adviser; and

(b) As an agent for a broker-dealer, the applicant is not required by his/her home jurisdiction to make a separate filing on CRD as an investment adviser representative but has previously met the examination requirement in subsection (1) of this Rule necessary to provide advisory services on behalf of the broker-dealer/investment adviser.

O.C.G.A. §§ 10-5-32, 10-5-33, 10-5-35, 10-5-41, 10-5-74.

Original Rule entitled "Examination Requirements" adopted. F. Nov. 18, 2011; eff. Dec. 8, 2011.

Amended: F. Mar. 9, 2012; eff. Mar. 29, 2012.

Amended: F. Mar. 8, 2019; eff. Mar. 28, 2019.

Disclaimer: These regulations may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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