Certified Securities Compliance Professional

Completion of Acceptable CEUs during a Two-Year Cycle

Individuals who have received the CSCP credential (Certificants) shall be required to complete 20 CEUs during a cycle of two years which shall commence on the date in which the CSCP credential is received. For purposes of this requirement, all CEUs must be earned within the Core Content Areas. 

The following table illustrates the timeline for completion of the CEU requirement for Certificants during calendar years 2008, 2009, and 2010 including the extension authorized by the CSCP Board of Governors:

All CEUs earned by the Certificant during their original two-year reporting cycle and the temporary extension period may be applied to their reporting cycle. All CEUs must still be earned within the Core Content Areas.

Payment of Administrative Fee

Certificants shall be charged an administrative fee at the end of each two-year reporting cycle.

• Non-Member: $100.00 
• NSCP Members: $75.00

Reporting and Recordkeeping

The CEU requirement must be met during each two-year reporting cycle. CEUs earned in excess of the requirement during a particular reporting cycle may not be applied to subsequent reporting cycles.

Certificants are required to report (e.g. name of program, name of the program sponsor, date of program, location, number of CEUs, and the specific topic from the Core Content Area) earned continuing education units no later than the end of the CEU cycle. Certificants not selected for a verification review will receive a CEU Validation Certificate to retain as evidence of satisfaction of the CEU requirements.  Certificants selected for a verification review shall not receive a CEU Validation Certificate until such time as they have complied with the review process. A CEU Validation Certificate will be forwarded to review Certificants after documentation has been received and approved. Certificants are responsible for maintaining all relevant documentation pertaining to CEUs acquired during the reporting cycle. Do not send documentation unless specifically requested. The Board of Governors may request these documents at any time up to two years from the end of a reporting cycle.

For those educational activities involving an examination, acceptable documentation may consist of a grade report or transcript. For other programs, a written confirmation of attendance (e.g., Certificate of Attendance, Certificate of Completion) from the sponsoring organization shall be acceptable. Such documentation should include: name of individual participating in the program, name of the program, name of the sponsor, date of program, location of program, number of CEUs earned and signature of sponsor representative. If written confirmation is unavailable, the Certificant should retain an agenda for the program which identifies the topics addressed and the time allotted for each topic.

NSCP reserves the right to decline credit for any individually reported CEU.

Assignment of CEUs

The Board of Governors may periodically evaluate the educational value of certain activities. If the Board of Governors determines that a particular activity is in furtherance of the continuing education program, it shall assign a CEU value to the activity. Currently approved educational activities and their assigned CEU values shall be published not less often than annually.

Examples of Activities That May Qualify for CEUs

The following activities, provided they are relevant to securities compliance, are deemed appropriate for receipt of continuing education units:

Participation in Educational Programs

Participation in Formal Educational Programs of Study

• Post-secondary courses attended for credit, including guided independent study and regular college or university courses. Courses taken in pursuit of associate, baccalaureate, master, or doctorate degrees are included. All coursework and final exams must be completed by the December 31 cycle end date. 15 CEUs for each semester/trimester credit | 10 CEUS for each quarter credit
• Audit of academic course or relevant non-credit adult education course, including attendance at a college or university course with permission and following regulations, without completing necessary requirements for full formal credit. Course must be completed by the December 31 cycle end date. 6 CEUs for each semester/trimester credit | 4 CEUs for each quarter credit
• Correspondence and other formal, independent, online, or distance education study programs which consist of readings and exercises submitted to a knowledgeable instructor for evaluation. Courses normally cover several lessons to be completed in a specific time cycle. Certificate of completion must show that all coursework and exams were completed by the December 31 cycle end date. Self-study programs are defined as courses completed outside of a classroom environment using printed material, periodicals, audio and/or video cassettes, electronic media or online media.

Credit for self-study programs is determined by the hours of completion time recommended / established by the CE sponsor. Programs are acceptable for CEUs in an initial unit of at least one hour (minimum of 50 minutes constitutes one class hour).

Publication of Material
Publication is the development of an original work which has been reproduced by written or electronic means for general dissemination to the public.

Instruction, Discussion Leader or Speaker
Presentation is the development of an original work delivered to an audience. Credit is only allowed for the first presentation per CE reporting cycle; based on 2 CEUs for each hour of class or presentation time. For example, an instructor may claim 4 hours for teaching a two-hour class. Credit may not exceed 50% of the total CEUs required during any reporting cycle.

Independent Study Activities

1. Study groups devoted to topics relevant to securities compliance.   1 CEU for each 50 minutes of participation
2. Completing a quiz accompanying NSCP Currents article or a book published by NSCP | CEUs pre-determined by NSCP
3. Correspondence courses offered by professional associations or organizations.  1 CEU for each 50 minutes of participation

Examples of Activities That Do Not Qualify for CEUs

• Responsibilities that fall within the normal parameters of an individual's job description, including but not limited to the following: (1) staff meetings; (2) preparation for and/or participation in regulatory examinations; (3) preparation of procedure, policy or administrative manuals; (4) conducting internal audits; (5) participation in career day activities; (6) development of employee/staff training materials.
• Short newspaper articles, Q&A’s, company newsletters, published materials and/or presentations developed as part of an individual's employment or in an effort to market the firm/product.
• Credit as an instructor, discussion leader or speaker for presentations designed primarily for persons not engaged in the securities compliance industry (e.g. presentations to the general public; presentations for marketing purposes; television and radio talk shows; and participation in high school programs).

Verification Review

The Board of Governors reserves the right to verify information supplied by, or on behalf of, a Certificant. If selected for a review, the Certificant will be asked to submit documentation substantiating eligibility.

Certificants may randomly be selected for review. An individual selected for review will be required to submit verifiable documentation for each activity listed on the CEU Reporting Form. Reviewers will seek verification of attendance/participation, content description, and CEUs earned. It is recommended that CEU Certificants retain all records for at least two years following the cycle end date.

If credit for any program or activity (i.e. for which CEUs are reported) is denied as a result of the review, the Certificant will be given 90 days to report additional hours to cure the deficiency. The Certificant will remain authorized to use the CSCP® designation during this 90-day period.

If the deficiency is not cured within the 90-day period, a deficiency notice will be sent. If the necessary hours remain unreported the individual will no longer be certified and will not be authorized to use the CSCP® designation.

Waiver of Continuing Education Requirements

Requests for a waiver of the continuing education requirement due to extenuating circumstances are reviewed on a case-by-case basis. Written requests along with supporting documentation should be made to the Board of Governors.

Forfeiture of Credentials

Certificants who fail to comply with the provisions outlined in Requirements for the Maintenance of Certification, Assignment of CEUs, Verification Review, and Waiver of Continuing Education Requirements shall forfeit the CSCP credential. The Board of Governors shall give appropriate notice of intention to forfeit and actual forfeiture of credential. Individuals may not use the CSCP® designation once it has been forfeited.

Restoration of Credentials

After a period of two years, or one reporting CEU cycle, in which a Certificant fails to maintain the CSCP credential in accordance with the Standards of Maintenance, an individual's status is listed as "Grace Period - Certified" for a maximum period of one year. A Certificant must complete an Intent to Restore form, pay restoration fees, and obtain the required numbers of CEUs in order to reinstate the credential.

If the Certificant does not comply with the restoration requirements within the maximum period of one year, the Board of Governors is authorized to revoke, and shall revoke, the CSCP credential.

Subsequent to revocation, an individual who wishes to regain active CSCP status must meet the requirements currently applicable for initial certification.

Revocation of Certification

The Board of Governors is authorized to revoke, and shall revoke, the CSCP credential with respect to a Certificant who has failed to comply with the Standards for Maintenance of Continuing Education Units in  Certification and the NSCP Code of Ethics. The Board of Governors shall notify the Certificant of its intent to revoke prior to the actual revocation of the credential. Once the individual has been notified of the pending revocation, he or she must not use the CSCP® designation. Subject to the Appeals procedures, the revocation will become effective upon notice to the individual. Once certification has been granted, it may be revoked if it is determined that the individual has supplied false information on the examination application or supporting documentation, engaged in inappropriate conduct during the exam administration, failed to comply with NSCP’s Code of Ethics, or failed to meet continuing education requirements.

Appeals

The Certificant whose credential is subject to forfeiture or revocation under these standards may appeal such forfeiture or revocation to the Board of Governors. A decision issued by the Board of Governors may be appealed to the NSCP Board of Directors. The decision of the NSCP Board of Directors shall be final.

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