dc_investment_adviser_representative - ce_requirement_2023_final - IAR Continuing Education Model Rule (2023)

Sep 25, 2026

The District of Columbia Department of Insurance, Securities, and Banking adopted the NASAA Investment Adviser Representative Continuing Education Model Rule (IAR CE Rule) effective for the 2023 calendar year. District-registered IARs must complete 12 annual credit hours: six covering IAR products and practice content and six focused on ethics and professional responsibility, with at least three ethics credits. The document explains who must comply, start dates, carryover limits, FINRA dual-registration treatment, professional designation credit eligibility, CE inactivity consequences, re-registration requirements, and potential waiver at the Securities Division’s discretion.

LanguageEnglish

CategoryExam

FormatPDF

Pages2

Reading Time5 min

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Who must comply with the District of Columbia IAR CE Rule?

When must IARs begin complying with the rule?

How many credits are required each year?

Ethics and professional responsibility credit minimum

Exceptions for dually registered IARs (FINRA)

Exceptions for professional designations and specified qualifications

Consequences for failing to fulfill CE requirements

Credit carryover rules

Re-registering after termination within the two-year window

Can the IAR CE requirement be waived?

The Department of Insurance, Securities, and Banking has adopted the NASAA Investment Adviser Representative Continuing Education Model Rule (“IAR CE Rule”) effective for the 2023 calendar year. All investment adviser representatives who are registered in the District of Columbia must complete twelve credit hours of IAR CE on an annual basis, effective January 1, 2023 Who must comply with the District of Columbia IAR CE Rule? All investment adviser representatives registered in the District of Columbia must comply with the District’s IAR CE Rule. An IAR with a home state other than the District of Columbia who is registered or required to be registered in the District of Columbia will be considered in compliance if: (1) the investment adviser representative’s Home State has continuing education requirements that are at least as stringent as NASAA’s Model Rule, and (2) the investment adviser representative follows the Home State’s IAR CE requirements. When must IARs begin complying with the District of Columbia IAR CE Rule? Immediately under the rule, an investment adviser representative’s initial reporting period with the District of Columbia commences the first day of the first full Reporting Period after the individual is registered or required to be registered with the District. Compliance will begin with the 2023 calendar year for currently registered investment adviser representatives. Newly registering investment adviser representatives must comply by the end of the first full calendar year following the year they become registered. How many credits are required each year? Each year, six credits of IAR Products and Practice Content and six credits of Ethics and Professional Responsibility are required. At least three of the Ethics and Professional Responsibility credits must cover ethics. Is there an exception for dually registered IARs that satisfy their continuing education requirements for FINRA? Partially. A representative who is dually registered as an agent of a FINRA member brokerdealer and who complies with FINRA’s continuing education requirements will satisfy the Products, and Practices portion of the requirement provided the FINRA continuing education meets specific standards set out by NASAA. The IAR must still complete six credits of Ethics and Professional Responsibility courses, including at least three ethics credits. Are there any exceptions to the CE requirement for IARs with a professional designation or other specified qualifications? Yes. To the extent that the professional designation is current and qualifies the individual for an examination waiver in the District of Columbia, continuing education credits earned for the professional designation can qualify for IAR CE credits. Note, however, that the course must be “Approved IAR Continuing Education Content,” meaning that IARs must seek out courses that their credentialing organization and NASAA have approved to earn dual credit. What happens if an IAR does not fulfill the CE requirement for one or more calendar years? Suppose an IAR does not fulfill the annual requirement by the end of the calendar year. In that case, the IAR’s registration status will be set to “CE Inactive,” which will be viewable by the District of Columbia Securities Division and by the public on IAPD and Broker Check. The CE Inactive status will remain until the deficiencies are corrected or the Securities Division takes further action. Suppose the CE Inactive status persists through the close of the following calendar year. In that case, the IAR will be ineligible to renew their registration or to initiate anew IAR registration until the deficiency is corrected. Can an IAR “carry over” credits earned in one calendar year to the next, provided they have met the current annual requirement? No, credits earned more than the annual requirement cannot be used to satisfy the CE requirement in subsequent years. Suppose an IAR has a CE deficiency from a p

FAQs

Who must comply with the District of Columbia IAR CE Rule?

All investment adviser representatives registered in the District of Columbia must comply. An IAR with a different home state may be considered in compliance if the home state’s CE requirements are at least as stringent as NASAA’s Model Rule and the IAR follows those home-state IAR CE requirements.

When do IARs need to start complying with the District of Columbia rule?

Compliance begins with the 2023 calendar year for currently registered IARs. Newly registering IARs must comply by the end of the first full calendar year after the year they become registered.

What happens if an IAR does not fulfill the CE requirement?

If the annual CE requirement is not met by the end of the calendar year, the IAR’s registration status is set to “CE Inactive.” If CE Inactive persists through the close of the following calendar year, the IAR cannot renew registration or initiate a new IAR registration until the deficiency is corrected.

Sep 25, 2026

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