NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATION INC

Programs

1. Iar continuing education ("iar ce"): investment adviser representative continuing education (iar ce) is a program managed by nasaa for relevant nasaa members that requires annual continuing education requirements and information for applicable investment adviser representatives. The nasaa membership approved a model rule that has since been adopted by many nasaa members requiring 12 credits of approved ce annually. The nasaa corporate office and its vendors manage the daily operations of the program.

   $1,973,108 spent$6,270,032 earned by the program
   22% of program spending

2. Other activities are organized throughout the year to provide education and collaborative opportunities to members who deal with securities regulation and enforcement matters. Among these activities, nasaa routinely provides new content for series 63, series 65 and series 66 examinations, which are owned by nasaa and are utilized in the financial services industry.

   $1,932,744 spent$8,999,744 earned by the program
   22% of program spending

3. Nasaa, under the leadership of its state securities regulator members, operates the electronic filing depository ("efd"). The efd system benefits from the oversight of the nasaa board of directors and subject matter expertise from the efd steering committee. Efd is an internet accessible database system that allows issuers to submit regulatory filings and pay related fees to state securities regulators. The filings that can be submitted through the efd managed functionality include form d for regulation d, rule 506 filings, form nf-uit filings, franchise registration filings, form nf-mutual fund filings, as well as other corporate finance filings. Efd also provides a public facing website to search and view, free of charge, filings made through the system to state securities regulators. The efd system allows filers and state regulatory agencies to transition from paper-based filing systems to an electronic system. By fostering uniformity in state regulatory filings, and simplifying communications between filer and regulator, efd serves its member regulators with a more efficient and effective means to receive and monitor securities filings.

   $1,914,648 spent$2,730,836 earned by the program
   21% of program spending

4. An annual fall conference is held each year in a different city in conjunction with a full membership meeting. Both serve to update participants and members on current events pertaining to securities administration.

   $763,713 spent$122,759 earned by the program
   9% of program spending

5. Nasaa's multi-pronged mission includes serving members through education. In fulfilling this aspect of the organization's mission, nasaa maintains a training and education program comprised of a series of in-person training events and webinars that take place throughout the year. The events are largely funded by the organization and available primarily to nasaa members and their staff. Training events focused on the following are held annually: enforcement, investment adviser regulation, investor education, broker-dealer regulation, corporation finance and franchise regulation, licensing and registration. Litigation and deposition skills training seminars are held in alternating years. Nasaa records these events and makes them available to members on the distance learning section of the nasaa website.

   $1,625,615 spentof which $758 as grants$187,625 earned by the program
   18% of program spending

6. Spring conference in washington dc

   $423,007 spent$35,950 earned by the program
   5% of program spending

7. Nasaa exams module ("nemo") system

   $315,832 spent
   4% of program spending

The 7 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $8,948,667.