Loading chat...
MI HB6141
Bill
Status
5/6/2010
Primary Sponsor
Paul Opsommer
Click for details
AI Summary
-
Allows individuals acting as investment adviser representatives on the effective date to be exempt from sitting for the examination if they meet specified criteria.
-
Exempts individuals who passed the Uniform Investment Adviser State Law Examination (S65) or Uniform Combined State Law Examination (S66) within the past 2 years.
-
Exempts individuals who have been practicing continuously since passing either S65 or S66 examination.
-
Exempts individuals who passed either Series 6 with S63 examination or Series 7 with S63 examination, or who are members of a corporate registered investment adviser.
-
Allows investment adviser representatives to work for multiple investment advisers unless prohibited by rule or order, and prohibits conduct if their registration is suspended, revoked, or if they are barred by regulatory order or self-regulatory organization.
Legislative Description
Occupations; individual licensing and regulation; testing for investment adviser representative registration; revise to allow previous examination if taken within certain time period. Amends sec. 404 of 2008 PA 551 (MCL 451.2404).
State agencies (existing), energy, labor, and economic growth
Last Action
Referred To Second Reading
5/20/2010