December 21, 1990
TO: INVESTMENT ADVISERS COMMITTEE NO. 45-90
RE: INSTITUTE REQUESTS SERIES 24 WAIVER IN NEBRASKA FOR CFAs
__________________________________________________________
Attached is a copy of the Institute's letter to the
Nebraska Bureau of Securities requesting exemption from the
Series 2 or 24 examination requirement for investment adviser
"principals" who have a Chartered Financial Analyst designation.
Nebraska currently requires certain employees of every
investment adviser registered in Nebraska to pass either the
Series 2 or 24 examination. The Institute requested the Bureau
to grant a class waiver for all such "principals" who have a CFA
certification pursuant to the administrative authority granted to
the Director of Banking and Finance in this regard. A similar
exemption has been proposed in Rhode Island based on the
Institute's recommendation. (See Institute Memorandum to
Investment Advisers Committee No. 44-90, dated December 21,
1990.)
We will keep you informed of further developments.
W. Richard Mason
Assistant General Counsel
Attachment