There are several types of continuing education (CE) that an individual in the securities industry may be required to complete. These requirements are based on the registrations and other designations held by the individual. This page highlights the different types of CE that may be required of an individual.
SRO Registrations
FINRA Rule 1240 requires registered individuals to complete two different types of CE on an annual basis. Click each box below to learn more about each CE program.
Investment Adviser Representative (IAR) Registration: IAR CE
Regulatory Element CE
Regulatory Element CE
FINRA, in conjunction with other self-regulatory organizations (SROs) and the CE Council, administers the Regulatory Element. The annual program provides training from an industry-wide regulatory perspective and is a requirement for those holding FINRA registrations.
Firm Element CE
Firm Element CE
Individual firms, as required by FINRA and other SROs, administer the Firm Element for their SRO-registered employees. This program is designed to keep registered employees current on topics related to their professional responsibility and complements their Regulatory Element training.
Every IAR registered in a jurisdiction that has adopted the North American Securities Administrators Association (NASAA) Model Rule on Investment Adviser Representative Continuing Education is subject to its IAR CE requirements to attain 12 CE credits annually. The 12 credits must include 6 credits of approved Products and Practice and 6 credits of approved Ethics and Professional Responsibility content. Persons who complete their Regulatory Element CE in the same calendar year in which they are subject to an IAR CE requirement will receive credit for completing 6 Products and Practice IAR CE credits for that year as long as the individual or their firm reports it for IAR CE credit.
The mandatory CE program applies to all registered IARs of both state-registered and federal-covered investment advisers in those jurisdictions.
CE For Professional Designations
Many professional designations require ongoing CE for individuals to continue to hold the designation. Visit the Professional Designations Database to learn about the CE requirements for other registrations and designations.
Individuals holding the CFP designation must complete 30 hours of CFP CE each reporting period to satisfy CFP Board Requirements. The CFP Board recommends that CFP professionals take registered CE Programs (administered by Registered CE Sponsors) to satisfy their CE requirement; CE credit may be granted for instructing or authoring CE programs as well.
Insurance Representative License: Insurance CE
State insurance regulators require that individuals who hold an insurance license for the “Variable Life and Variable Annuity Products” Line of Authority complete 24 hours of CE every two years. Three of the 24 hours must specifically focus on ethics.
If a nonresident producer meets the CE requirements of their resident state, this should also satisfy the CE requirements of any nonresident state in which the producer holds a license. In addition, the biennial CE compliance period should coincide with the producer’s license renewal date.
Individuals should check with the state where they hold their resident insurance producer license to confirm the specific CE requirements.