Mississippi Administrative Code
Title 1 - Secretary of State
Part 14 - Securities Regulation
Chapter 6 - INVESTMENT ADVISERS
Rule 1-14-6.14 - Investment Adviser Representative Continuing Education
Current through March 14, 2024
A. Investment Adviser Representative Continuing Education. Every investment adviser representative registered under Section 75-71-404 of the Act must complete the following continuing education requirements each reporting period:
B. Agent of FINRA-Registered Broker-Dealer Compliance. An investment adviser representative who is also registered as an agent of a FINRA-member broker-dealer and who complies with FINRA's continuing education requirements is considered to be in compliance with Subsection (A)(2) for each applicable reporting period so long as FINRA continuing education content meets all of the following baseline criteria as determined by NASAA:
C. Credentialing Organization Continuing Education Compliance. Credits of continuing education completed by an investment adviser representative who was awarded and currently holds a credential that qualifies for an examination waiver under Rule 6.13 (A)(4) comply with Subsection (A)(1) and (A)(2) of this rule provided all of the following are true:
D. IAR Continuing Education Reporting. Every investment adviser representative is responsible for ensuring that the authorized provider reports the investment adviser representative's completion of the applicable IAR continuing education requirements.
E. No Carry-Forward. An investment adviser representative who completes credits of continuing education in excess of the amount required for the reporting period may not carry forward excess credits to a subsequent reporting period.
F. Failure to Complete or Report. An investment adviser representative who fails to comply with this Rule by the end of a reporting period will renew as "CE Inactive" at the close of the calendar year in this state until the investment adviser representative completes and reports all required continuing education credits for all reporting periods as required by this Rule. An investment adviser representative who is CE Inactive at the close of the next calendar year is not eligible for investment adviser representative registration or renewal of an investment adviser representative registration.
G. Discretionary Waiver by the Administrator. The administrator may, in its discretion, waive any requirements of this Rule.
H. Home State. An investment adviser representative registered or required to be registered in this state who is registered as an investment adviser representative in the individual's home state is considered to be in compliance with this rule provided that both of the following are true:
I. Unregistered Periods. An investment adviser representative who was previously registered under the Act and became unregistered must complete continuing education for all reporting periods that occurred between the time that the investment adviser representative became unregistered and when the person became registered again under the Act unless the investment adviser representative takes and passes the examination or receives an examination waiver as required by Rule 6.13 in connection with the subsequent application for registration.
J. Definitions. For the purposes of this Rule:
Miss. Code Ann. §§ 75-71-406, -411 (2020).