Department of Licensing and Regulatory Affairs  
Corporations, Securities, & Commercial Licensing  
Administrative Rules for Securities  
Rule Set 2023-40 LR  
NOTICE OF PUBLIC HEARING  
Thursday, April 25, 2024  
11:00 AM  
Sun Room  
2407 N Grand River Ave, Lansing, MI 48906  
The Department of Licensing and Regulatory Affairs will hold a public hearing to receive public comments on  
proposed changes to the Securities rule set.  
The proposed rules incorporate model rules adopted by the North American Securities Administrators  
Association (NASAA) in 2022 and 2023 that extend the validity of qualifications examinations for certain  
individuals registered under the Michigan Uniform Securities Act (MUSA) if they enroll in a program  
administered by the Financial Industry Regulatory Authority (FINRA) and/or NASAA, and complete continuing  
education applicable to their registration categories. The rules would incentivize individuals to maintain their  
knowledge of industry standards, products, practices, and ethics during their disassociated period through  
approved and documented continuing education.  
By authority conferred upon the Department of Licensing and Regulatory Affairs, MCL 451.2201, 451.2202,  
451.2202a, 451.2203, 451.2304, 451.2306, 451.2401, 451.2403, 451.2405, 451.2406, 451.2410, 451.2411,  
451.2412, 451.2502, 451.2504, and 451.2605, and Executive Reorganization Order No. 2012-6, MCL 445.2034.  
The proposed rules will take effect immediately after filing with the Secretary of State. The proposed rules are  
published on the State of Michigan's website at http://www.michigan.gov/ARD and in the 4/15/2024 issue of the  
Michigan Register. Copies of these proposed rules may also be obtained by mail or email at the following email  
address: [email protected].  
Comments on these proposed rules may be made at the hearing, by mail, or by email at the following addresses  
until 5/13/2024 at 05:00 PM:  
Mitchell Page, Department of Licensing and Regulatory Affairs, Corporations, Securities, and Commercial  
Licensing Bureau  
P.O. Box 30018, Lansing MI, 48909  
Pagem6@michigan.gov  
The public hearing will be conducted in compliance with the 1990 Americans with Disabilities Act. If the hearing  
is held at a physical location, the building will be accessible with handicap parking available. Anyone needing  
assistance to take part in the hearing due to disability may call 517-241-9590 to make arrangements.  
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