Bill > HB1545

This bill strengthens requirements for investment adviser representatives and agents in Indiana by establishing more comprehensive examination and continuing education standards. Specifically, the bill requires applicants seeking to register as broker-dealer agents or investment adviser representatives to pass specific FINRA (Financial Industry Regulatory Authority) examinations within two years of application, such as the Series 63, Series 65, Series 66, and Securities Industry Essential Examination. The bill introduces provisions for extending examination validity through a Maintaining Qualifications Program and allows for some exemptions based on professional designations or recent registration in other states. Additionally, it mandates a continuing education program for investment adviser representatives, requiring 12 total credits annually (6 credits in ethics and professional responsibility, and 6 credits in products and practice), with specific requirements for content and reporting. Investment adviser representatives who fail to complete these continuing education requirements will be placed on "CE Inactive" status and may lose their ability to register or renew their registration. The bill also provides the commissioner with discretion to waive certain examination and continuing education requirements, offering flexibility while maintaining professional standards in the securities industry.

Business and Industry

https://iga.in.gov/legislative/2025/bills/house/1545/details