March 8, 1989
TO: INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 18-89
INVESTMENT ADVISER MEMBERS NO. 19-89
RE: TEXAS EXEMPTS ADVISERS AND CERTIFIED BY IFSCFP FROM
EXAMINATION REQUIREMENTS
__________________________________________________________
On February 15, 1989, the Texas State Securities Board
adopted a provision that exempts certain investment advisers from
the examination requirement under the Texas Investment Adviser
Law. Pursuant to Section 115.3(I), an investment adviser who is
certified by the International Board of Standards and Practices
for Certified Financial Planners, Inc. to be a certified
financial planner is not required to take the general securities
portion of the examination, but must pass the examination on
state securities law.
Robert L. Bunnen, Jr.
Assistant General Counsel
Attachment