Statutes, codes, and regulations
Wyoming Administrative Code
Agency 002 - Secretary of StateSubagency 0017 - Securities
Chapter 10 - INVESTMENT ADVISER REGULATIONS
Section 10-5 - Examination Requirements

002-10 Wyo. Code R. § 10-5

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Current through April 27, 2019
Section 10-5 - Examination Requirements

(a) Unless otherwise waived by the Secretary of State, an investment adviser or an investment adviser representative shall take and pass within the two year period immediately preceding the date of the application:

  • (i) The Uniform Investment Adviser State Law Examination (S65); or
  • (ii) The Uniform Combined State Law Examination (S66) and the General Securities Representative Examination (S7).

(b) If the investment adviser is an entity, then a supervisory or control individual shall take and pass the examination(s) as required in subsection (a) of this Section.

(c) Any person who has been registered as an investment adviser or an investment adviser representative in any state requiring the licensing, registration or qualification of investment advisers or investment adviser representatives within the two year period immediately preceding the date of filing an application shall not be required to comply with the examination requirement set forth in subsection (a) of this Section.

(d) Compliance with subsections (a) and (b) is waived if the applicant has been awarded any of the following designations and at the time of filing an application is current and in good standing:

  • (i) Certified Financial Planner (CFP) awarded by the Certified Financial Planners Board of Standards.
  • (ii) Chartered Financial Consultant (ChFC) or Masters of Science and Financial Services (MSFS) awarded by the American College, Bryn Mawr, Pennsylvania.
  • (iii) Chartered Financial Analyst (CFA) awarded by the Institute of Chartered Financial Analysts.
  • (iv) Personal Financial Specialist (PFS) awarded by the American Institute of Certified Public Accountants.
  • (v) Chartered Investment Counselor (CIC) awarded by the Investment Adviser Association.

(e) An applicant who has taken and passed the Uniform Investment Adviser State Law Examination (S65) within two years prior to the date the application is filed with the Secretary of State or at any time if the applicant has been registered or licensed as an investment adviser, investment adviser representative or securities agent within the two years prior to the date the application is filed with the Secretary of State, is exempt from taking the Uniform Investment Adviser State Law Examination.

(f) An applicant who is an agent for a broker-dealer/investment adviser and who is not required by the agent's home jurisdiction to make a separate filing on CRD as an investment adviser representative but who has previously met the examination requirement in subsection (a) of this Section necessary to provide advisory services on behalf of the broker-dealer/investment adviser, is exempt from taking the Uniform Investment Adviser State Law Examination (S65).

(g) Persons considered to be investment adviser representatives only because they solicit, offer or negotiate for the sale of or sell investment advisory services in this state are not be required to take and pass the examinations in subsection (a) of Section 5.

002-10 Wyo. Code R. § 10-5

Adopted, Eff. 10/27/2017.