California Corporations Code

§ 25243.5

CORP § 25243.5 Effective Jan 1, 2023Div. 1 · Title 4 · Part 3 · Ch. 4

Statute text

(a)A broker-dealer or investment adviser, or an agent or representative thereof, shall not use a senior-specific certification, credential, or professional designation in connection with the offer, sale, or purchase of securities, or the provision of advice as to the value of or the advisability of investing in, purchasing, or selling securities, either directly or indirectly or through publications or writings or by issuing or promulgating analyses or reports relating to securities, that indicates or implies that the broker-dealer, investment adviser, or an agent or representative thereof, has special certification or training in advising or servicing senior citizens or retirees, in such a way as to mislead any person.

(b)The prohibited use of these certifications, credentials, or professional designations includes, but is not limited to, the following:

(1)The use of a certification, credential, or professional designation by a person who has not actually earned or is otherwise ineligible to use the certification, credential, or designation.

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Legislative history

Amended by Stats. 2022, Ch. 452, Sec. 74. (SB 1498) Effective January 1, 2023.