The Canadian Investment Regulatory Organization (CIRO) has published proposed amendments to its continuing education (CE) programs under the Investment Dealer Partial Consolidated (IDPC) Rules and the Mutual Fund Dealer (MFD) Rules (The Proposed Amendments). CIRO had published the Proposed Amendments as part of its effort to develop harmonized Continuing Education (CE) rules for a comment period ending March 18, 2025.
Generally, the Proposed Amendments cover:
- material differences between the IDPC and MFD Rules for CE,
- the objectives of the current MFD and IDPC CE programs, which is to further develop baseline proficiencies applicable to Approved Persons consistent with the proficiency principle,
- the objectives of CE harmonization and applicable regulatory requirements, including those specific to Quebec, and,
- the potential operational and IT system impacts of harmonized rules on all CIRO firm types.
The regulator plans to adopt a phased approach to harmonizing its CE rules. Phase One will focus on proposed rule amendments for the next CE cycle that have a minimal impact on firms and Approved Persons in the next CE cycle. Phase Two will consider future rule amendments that have significant operational and/or IT system impacts, which would take place in the following CE cycle.
Rule Amendments – Request for Comments — Proposal to harmonize CIRO Continuing Education (CE) Programs is available for download from the website of the Canadian Investment Regulatory Organization
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606.
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