Rhode Island is the latest to adopt NASAA’s IAR CE model regulation, which will take effect on January 1st, 2025, and joins the list of twenty-two other states that have adopted the regulation.
Rhode Island’s new regulation requires investment adviser representatives (IARs) to complete annual continuing education courses. The requirement applies based on IAR registration location, not the IA firm’s registration status. While CE requirements have long existed for broker-dealer agents and other financial professionals, this marks a significant shift for IARs – one that state regulators and industry leaders have endorsed given IARs’ crucial role in client financial planning.
For more information on the IAR CE Model Rule, see our whitepaper titled, “Must-Know’ Facts about the IAR Continuing Education Model Rule.”
Starting in 2025, Rhode Island IARs must complete 12 credits each year to maintain their IAR registration.
- The 12 credits must include
- Six credits for Products and Practices
- Six credits for Ethics and Professional Responsibility.
If an IAR fails to comply with this requirement, they will be listed as “inactive” through their FinPro account until the remaining number of credits from the previous year is completed.
To see which states adopted/have regulation have pending, click here.
