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
Frequently Asked Questions
Background
- Competency Profiles for Approved Persons (Investment Dealers) (09/25/2023)
- Consultation Paper – Proposed Proficiency Model- Approved Persons under the Investment Dealer and Partially Consolidated Rules (07/07/2023)
- Consultation Paper (Phase III) – Competency Profiles for Supervisors, Traders, Associate Portfolio Managers and Portfolio Managers | IIROC (8/29/2022)
- Consultation Paper (Phase II) – Competency Profiles for Directors, Executives, Ultimate Designated Persons, Chief Compliance Officers, and Chief Financial Officers | IIROC (8/31/2021)
- Consultation Paper (Phase I) - Competency Profiles for Registered Representatives and Investment Representatives, Retail and Institutional | IIROC (8/18/2020)
- IIROC announces new proficiency assurance model (9/22/2015)
- Proficiency Assurance: The Next Phase in Proficiency Regulation (9/22/2015)
- Proficiency Assurance: The Next Phase Consultation Relating to Expiry of CSI Contract (7/16/2014)
Questions?
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