The North American Securities Administrators Association has released a model rule prohibiting misleading use of designations in the sale of investment products to senior investors.
The measure prohibits the use of senior-oriented designations to mislead senior citizens or retirees. It also provides state securities administrators with the means to recognize the use of designations conferred by an accredited organization.
According to the NASAA measure, financial professionals must not use a senior certification or professional designation if they have not actually earned the designation or are otherwise ineligible to use it.
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