misleading designation

(3)the term “misleading designation”— (A)means a certification, professional designation, or other purported credential that indicates or implies that a salesperson or adviser has special certification or training in advising or servicing seniors; and (B)does not include a certification, professional designation, license, or other credential that— (i)was issued by or obtained from an academic institution having regional accreditation; (ii)meets the standards for certifications and professional designations outlined by the NASAA Model Rule on the Use of Senior-Specific Certifications and Professional Designations (or any successor thereto) or by the Model Regulations on the Use of Senior-Specific Certifications and Professional Designations in the Sale of Life Insurance and Annuities, adopted by the National Association of Insurance Commissioners (or any successor thereto); or (iii)was issued by or obtained from a State;

Source

12 USC § 5537(a)(3)


Scoping language

As used in this section
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