IIROC Notice 17-0095 – Continuing Education Consultation

June 22, 2017

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IIROC Notice 17-0095 – Continuing Education Consultation

Letter Summary:

IIROC is engaged in a regulatory review of its continuing education program. In addition to comments relating to the plain language rewrite of the IIROC rule book, it is looking for comments to inform future guidance or future phases of its continuous education [CE] review. Specifically, it is looking for feedback on recognizing CE accredited by other regulators, taking the accreditation function in-house, and the ability to extend the validity of the Canadian Securities Course by taking other specified courses. 

Overview of the Council’s Comments:

The CAC thinks that streamlining and recognizing CE requirements among various regulated platforms may yield great benefits to IIROC Approved Persons and lessen any confusion from the public’s perspective given the wide array of CE courses currently offered.  Still the Council considers that it is important to evaluate each program on a case-by-case basis focusing on the standard of proficiency and relevancy for a person dealing and advising in securities. Also, the Council supports IIROC’s proposal to bring the substantive CE course review and accreditation function in-house and suggests that it could limit the appearances of conflicts of interests. Finally the CAC also supports the Voluntary Participation Program if it is restricted to the CSC and not the CPH.