1. (a) Except as provided in subsections (b) and (c), an investment adviser representative registered under IC 23-19-4 shall complete the following investment adviser representative continuing education requirements each reporting period:

   1. (1) Six (6) credits of investment adviser representative ethics and professional responsibility continuing education content offered by an authorized provider, with at least three (3) hours covering the topic of ethics.
   2. (2) Six (6) credits of investment adviser representative products and practice continuing education content offered by an authorized provider.

2. (b) An investment adviser representative who is registered as an agent of a FINRA member broker-dealer and complies with FINRA's continuing education requirements is in compliance with subsection (a)(2) for each applicable reporting period if the FINRA continuing education content meets all of the following criteria as determined by NASAA:

   1. (1) The content of the program focuses on:

      1. (A) compliance;
      2. (B) regulatory;
      3. (C) ethical; and

      4. (D) sales practice;

         standards.

   2. (2) The content of the program is derived from:

      1. (A) state and federal investment advisory statutes;
      2. (B) rules and regulations;
      3. (C) securities industry rules and regulations; and
      4. (D) accepted standards and practices in the financial services industry.
   3. (3) The program requires that its participants demonstrate proficiency in the subject matter of the educational materials.

3. (c) If an investment adviser representative who holds a designation that qualifies the individual for an examination waiver under section 3(c) of this chapter completes continuing education content as a condition of maintaining the individual's designation, the individual complies with subsection (a) if the continuing education content:

   1. (1) completed during the relevant reporting period by the investment adviser representative is mandatory to maintain the designation; and
   2. (2) provided by the designating organization during the relevant reporting period is NASAA approved investment adviser representative continuing education content.
4. (d) An investment adviser representative who fails to comply with this section by the end of a reporting period will renew as "CE Inactive" at the close of the calendar year until the investment adviser representative completes and reports all required investment adviser representative continuing education credits. An investment adviser representative who is "CE Inactive" at the close of the next calendar year is not eligible for investment adviser representative registration or renewal of an investment adviser representative registration under IC 23-19-4 .

As added by P.L.41-2026, SEC.7.