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Description
The regulatory framework established by NASAA applies to both broker-dealers and investment advisers. By analyzing the Uniform Securities Act and its various model rules and statements of policy, the course will provide an understanding of the importance of state securities laws. Case studies are provided to address rules regarding the protection of senior and vulnerable investors, the use of professional designations, and the ethical obligations of investment advisers and their representatives.
Learning Objectives
Understand the history and role of NASAA and explain its primary mission and its methods for protecting investors from fraud and abuse.
Describe the key provisions of the Uniform Securities Act (USA), its role in state securities regulations, and the registration requirements for IAs and IARs, including the distinctions between state-registered and federal covered advisers.
Identify NASAA's model rules and guidelines for protecting retail clients, including senior-specific certifications, and describe NASAA's role in coordinating securities regulation and advocating for investor protection laws.
Understand the ethical obligations and fiduciary duties of investment advisers as outlined in NASAA's model rule on unethical business practices.
Identify the red flags and guidelines for addressing financial exploitation of vulnerable investors, and explain NASAA's Model Act provisions for protecting seniors, including disbursement delays and reporting suspected exploitation.
Analyze recent NASAA enforcement actions to understand common violations and the importance of compliance with securities regulations.