Proficiency Initiative

CIRO, through its predecessor organization IIROC, has undertaken a multi-year initiative to enhance its Proficiency regime with the intention of launching the new standards for its Investment Dealer approval categories in 2026.

Proficiency standards are a cornerstone of the CIRO regulatory regime. High proficiency standards play a key role in investor protection and the integrity and efficiency of capital markets. CIRO's goal is to create, maintain and promote high proficiency standards and a robust proficiency regime in the investment industry.

CIRO issued a consultation paper July 7, 2023 requesting feedback on changes to its Proficiency Model. CIRO issued an REOI in October 2022, where we received responses from thirty-two organizations. In October 2023, CIRO subsequently invited prospective examination services providers to the RFP stage. CIRO anticipates making a final selection by early Summer 2024.

High Level Timeline

High Level Timeline, 2014-2015 Consultation: Next Phase in Proficiency Regulation, Jun 2019 Development of Competency Profiles set as Priority, August 2020 Phase I Competency Profile Consultation (IR,RR), August 2021 Phase II Competency Profile Consultation (Directors, Executives, UDP, CCO, CFO), August 2022 Phase III Competency Profile Consultation (APM, PM, Trader, Supervisor), Fall 2022 Release of REOI, Summer 2023 Consultation, Fall 2023 Release of RFP, Summer 2024 Selection of Vendor(s), Program Setup, Jan 2026 Launch of New Program.

Frequently Asked Questions


Questions? ​ ​

Email: [email protected]

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You can find the Canadian Investment Regulatory Organization (CIRO) at with our fresh look and feel.

The following sections of the legacy and sites have been migrated to

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We will continue moving items off MFDA and IIROC in 2024. Stay tuned for future updates.