Mississippi Secretary of State Michael Watson has announced a rule change he says will reduce red tape on investment representatives in the Magnolia State.
The securities division of the Secretary of State’s office has implemented the Exam Validity Extension Program (EVEP). Mississippi is one of the first states to use the program.
Through EVEP, broker-dealer agents and investment advisor representatives currently registered will have the opportunity to extend state qualification exams for up to five years if compliant with continuing education requirements.
Designed to provide flexibility for currently registered individuals who may need to temporarily leave the industry for various reasons, EVEP allows registrants the chance to stay relevant on industry practices and ethical obligations during time away from the profession.
“Our office continues to find ways to reduce overly burdensome regulations on hardworking Mississippians,” Watson said. “The implementation of EVEP is another example of policy in action to ensure professionals, who experience unexpected life events, are not hindered by government red tape.”
Launched by the North American Securities Administrators Association in cooperation with the Maintaining Qualifications Program, EVEP was established by the Financial Industry Regulatory Authority.
The new rules can be found in Chapters 5 and 6 of the Mississippi Securities Act Rules and the Mississippi Administrative Bulletin.
