710 Ind. Admin. Code 4-9-6

Current through October 31, 2024

Section 710 IAC 4-9-6 - Examinations

Authority: IC 23-19-6-5

Affected: IC 23-19-4-12

Sec. 6.

(a) An examination or series of examinations in the form and content prescribed or approved by the commissioner must be taken and passed by every investment adviser and investment adviser representative.

(b) An investment adviser or investment adviser representative who wishes to rely on passage of any examination other than one prescribed by the commissioner under this section or who wishes to request a waiver of the examination requirements established by the commissioner under this section must submit a written request for consideration identifying:

(1) the examination in question;

(2) its content;

(3) the entity administering the examination; and

(4) the reason why a waiver should be granted by the commissioner.

Acceptance of the examination results or the waiver of the examination is solely within the commissioner's discretion.

(c) An investment adviser who is not an individual shall meet the examination requirement imposed by the commissioner under this section by showing proof of compliance on a continuing basis with this section by any one (1) of its investment adviser representatives who is currently engaged in the management of the investment adviser's business in Indiana, including the supervision or the training of investment adviser representatives or employees for any of those functions.

710 IAC 4-9-6

Securities Division; 710 IAC 4-9-6; filed Jun 28, 2010, 2:36 p.m.: 20100728-IR-710100044FRA

Readopted filed 5/12/2016, 1:47 p.m.: 20160608-IR-710160136RFA

Readopted filed 11/30/2022, 4:01 p.m.: 20221228-IR-710220301RFA