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Committee approves bill to tweak securities registration, extend IAR exam validity and add CE requirement
Summary
The House Financial Institutions Committee voted 10–0 to pass House Bill 13 36, which exempts certain M&A brokers from broker-dealer registration, allows a five-year exam-extension option for investment-adviser representatives for an annual $35 fee, and requires continuing education for IARs, the securities commissioner said.
Rep. Carball introduced House Bill 13 36, describing three main provisions: an exemption from broker-dealer registration for certain mergers-and-acquisition brokers; an option to extend the validity of investment-adviser representative examination status for up to five years; and a new continuing-education requirement for investment-adviser representatives.
Marie Caseta, securities commissioner for the State of Indiana, testified in support and described how the bill aligns with existing federal and multistate practices.…
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