Monday, July 7, 2008
New Hampshire becomes the first state to legislatively adopt NASAA’s Model Rule on the Use of Senior Certifications and Professional Designations. Last month Washington and Virginia became the first jurisdictions to adopt rules based on NASAA’s model. NASAA’s model rule prohibits the misleading use of senior and retiree designations and also provides a means by which a securities administrator may recognize the use of certain designations conferred by an accredited organization. The model rule addresses the growing use of financial designations or certifications that ostensibly convey expertise in advising seniors and retirees.