RIA in a Box Launches Continuing Education Program to Support NASAA Rule

The courses, approved by the North American Securities Administration Association, will provide investment advisory representatives with training on best compliance practices, investment products and ethics.

By DJ Shaw

RIA in a Box, a software-as-a-service provider of compliance, cybersecurity and operational software solutions to the wealth management industry, has announced a new continuing education program for investment advisory representatives.

The program seeks to provide advisers with comprehensive training from an approved provider regarding best compliance practices, investment products and ethics. The program is delivered through an online platform.

The program is a direct response to the North American Securities Administration Association’s new CE rule, which was adopted in late 2021. The rule requires any investment advisory representative registered under section 404 of the 2002 Act or section 201 of the 1956 Act to complete a set of continuing education requirements through an approved provider over the course of a reporting period. The rule, which is implemented on a state-by-state basis, has been implemented as of late June in Washington, D.C., and eight states: Arkansas, Kentucky, Maryland, Michigan, Mississippi, Nevada, Vermont and Wisconsin.

Under the new CE rule, an IAR who fails to comply with the rule’s requirements by the end of a reporting period will renew as “CE inactive” at the close of the calendar year—until the IAR completes and reports all required IAR continuing education credits. An investment adviser who is CE inactive at the close of the next calendar year is not eligible for IAR registration or renewal of an IAR registration.

In addition to fulfilling the requirements of NASAA’s new CE rule, the program also features a full integration with a service called MyRIACompliance, which allows supervisors to monitor and track their teams’ progress through the courses. Once completed, RIA in a Box will report each IAR’s results directly to the Financial Industry Regulatory Authority.