Alert:
A nationwide postal strike or lockout may occur as early as November 3, 2004. Dealer Members must take steps to ensure that document delivery requirements prescribed under CIRO Rules continue to be met.
MFD Rules 1.2, 1.2.6 and 900 (collectively the “CE requirements”) came into effect on December 1, 2021. The CE Reporting and Tracking System (“CERTS”) must be used to administer the MFD CE program.
For detailed information regarding the CE requirements, see the following sections:
A Member’s primary responsibility for the MFD CE Requirements is to supervise their Participants’ (Approved Persons) compliance with those MFD CE Requirements. In furtherance of this role, Members have the option to accredit their own CE activities and report attendance of their Participants within CERTS. Alternatively, Members may permit their Participants to attend recognized accredited CE activities offered by other Providers where such attendance is reported into CERTS by either the Provider or the Member’s Participants. For further guidance and information on the MFD CE Requirements, please refer to the following:
Each MFD CE activity must be accredited by Accreditors recognized by CIRO for the MFD CE Program. Canadian Investment Regulatory Organization (CIRO), under its Investment Dealer (ID) CE Program, and the Chambre de la sécurité financière (CSF) are recognized Accreditors. Members are also recognized Accreditors for the CE activities they provide to their own Participants (also known as “self-accreditation”). Other third parties can apply to CIRO to become recognized as Third Party Accreditors for the Purposes of the MFD CE Program. For further guidance and information on the MFD Accreditation Standards, please refer to the following:
All Participants in the MFD CE Program must complete the required number of credits in each CE cycle. Each cycle will be 2 years in length, starting December 1 of each odd numbered year. This aligns with the CSF’s continuing education cycle.
Participants registered as Dealing Representatives with an MFD, or as Mutual Fund Dealing Representative at a Dually Registered Member, must take 30 credits total in each cycle, which is comprised of:
Those Participants who are not Dealing Representatives, but are registered or designated as Chief Compliance Officers (CCOs), Ultimate Designated Persons (UDPs), Branch Managers (BMs), Alternate CCOs or Alternate BMs are required to take 10 credits total in each cycle: 8 Business Conduct credits (1 to 2 in ethics) and 2 MFD Compliance credits.
For further guidance and information, please refer to the following:
Members and other organizations (Providers) can offer CE activities to Participants and can report Participant attendance in CERTS.
Please refer to the following for further information and guidance: