Canada: Regulatory Waivers and CE Credits

The Regulator

The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) (a self-regulatory organization (SRO)

Requirements to Practice

In Canada, the CSA and IIROC establish the proficiency requirements to practice for a number of job roles.

The Waiver

Under the terms of National Instrument 31-103, the CSA establishes the proficiency requirements to practice for a number of job roles. The CFA program can be used to meet some of the proficiency requirements for the following job roles.

  • Portfolio Manager – advising representative and associate advising representative
  • Portfolio Manager – chief compliance officer
  • Investment Fund Manager – chief compliance officer
  • Mutual Fund Dealer – dealing representative (indirectly through the requirements to be a portfolio manager – advising representative)
  • Mutual Fund Dealer – chief compliance officer (indirectly through the requirements to be a portfolio manager – chief compliance manager)

Learn more about NI 31-103 (PDF) and how the CFA program can help meet the proficiency requirements for these roles.

Under the terms of Rule 2900, IIROC establishes the proficiency requirements for the following job roles.

  • Registered Representative – Portfolio Management
  • Registered Representative (with discretionary authority for trading futures and options on futures contracts

Learn more about Rule 2900 (PDF) and how the CFA program can help meet the proficiency requirements for these roles.

In addition, the CFA, CIPM, and Investment Foundations programs are listed on the Investment Industry Regulatory Organization of Canada (IIROC) Glossary of Financial Certifications.

Continuing Education Requirements

The mandatory Continuing Education (CE) program for Investment Dealers is supervised by IIROC. The CE program operates on three-year cycles and all registrants are on the same schedule.

A full list of continuing education requirements can be found on the IIROC website