The Rules are amended to incorporate the National Association of Securities Administrators Association’s (“NASAA”) model rule concerning the Examination Validity Extension Program (“EVEP”) for associated persons of investment advisers and federal covered advisers. Participation in the EVEP is voluntary. Participants must meet certain eligibility criteria, pay NASAA an annual participation fee, and satisfy applicable continuing education requirements. Individuals who terminate their registrations with investment advisers or federal covered advisers and elect to participate in the EVEP may have a maximum of five years, instead of two years, in which to reregister with a firm without having to requalify by exam.