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FAQs for IAs

NASAA is pleased to provide answers to frequently asked questions about investment advisers. Details 

NASAA Cybersecurity Checklist and Guidance for Investment Advisers

The NASAA Cybersecurity Checklist for Investment Advisers includes 89 assessment areas to help state-registered investment advisers identify, protect, and detect cybersecurity vulnerabilities; and to respond to and recover from cyber events.

NASAA Survey Regarding Continuing Education for Investment Adviser Representatives

Investment adviser representatives play an important role in the financial lives of millions of Americans, yet unlike most financial services professionals they are not independently required to meet a continuing education requirement to maintain their licenses to work with investors.

State securities regulators are considering closing this investor protection gap by consulting with industry to develop a responsive and relevant continuing education program to help investment adviser representatives more safely and competently serve their clients. Details

FAQ: Account Access Amendment to the Investment Adviser Model Rule on Unethical Business Practices of Investment Advisers and Investment Adviser Representatives

On November 6, 2017, NASAA adopted an amendment to NASAA’s Unethical Business Practices of Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers Model Rule to prohibit investment advisers from accessing clients’ electronic accounts through the clients’ own unique identifying information. The following Q&As are intended to help investment advisers understand the Account Access Model Rule, its purpose, and its application. Details

IAPD Reports

Investment Adviser Public Disclosure (IAPD) reports disclose information about state registered investment adviser representatives (IARs) to help investors determine whether to conduct, or continue to conduct, business with these individuals. The information contained within these reports is collected through the states’ registration and licensing process.

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