A number of market participants providing financial advice are regulated by a variety of SROs and securities regulators, among others, and it is important not only that relevant courses not be duplicative of courses already taken for other designations, but that the CE requirements are not inconsistent among industries. For example, the Ontario government is currently examining imposing regulation on persons involved in financial planning, and thus any CE requirement imposed by the MFDA should also take into account any such financial planning regulation in the design of its own requirements.
Overview of the Council’s Comments:
While we do not have a view on specific course content, we do believe it is important to emphasize industry and product knowledge. The investment fund and broader securities landscape is changing at a brisk pace, and it is important for mutual fund dealers to be familiar with the characteristics and risk profiles of new innovative products.