Adopted Model Rules

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Current model rules are posted here. Please direct inquiries about prior model rules to the NASAA Legal Department.

May 4, 2026

NASAA Unethical Business Practices of Investment Advisers, Investment Adviser Representatives and Federal Covered Advisers Model Rule 102(A)(4)-1

May 4, 2026

NASAA Recordkeeping Requirements for Investment Advisers Model Rule 411(C)-1

May 4, 2026

NASAA Recordkeeping Requirements for Investment Advisers Model Rule 203(A)-2

May 4, 2026

NASAA Prohibited Conduct of Investment Advisers, Investment Adviser Representatives and Federal Covered Investment Advisers Model Rule 502(B)

April 7, 2025

NASAA Model Rule: Dishonest or Unethical Business Practices of Broker-Dealers and Agents

December 18, 2024

NASAA Model Rule: Examination Requirements for Broker-Dealer Agents

December 18, 2024

NASAA Model Rule: Examination Requirements for Investment Adviser Representatives

May 6, 2024

Model Rule Exempting Certain Merger & Acquisition Brokers (“M&A Brokers”) from Registration

April 17, 2023

NASAA Investment Adviser Representative Examination Validity Extension Program Model Rule

May 16, 2022

Model Rule for Unpaid Arbitration Awards Under the Uniform Securities Acts of 1956 and 2002