Consultation Paper – Proposed Proficiency Model- Approved Persons under the Investment Dealer and Partially Consolidated Rules

Date opened: July 7, 2023

Date closed: September 20, 2023

Status: Closed


Over the last few years, the Canadian Investment Regulatory Organization (CIRO), through its predecessor organization, the Investment Industry Regulatory Organization of Canada (IIROC), has undertaken a multi-year initiative to enhance its proficiency regime with the intention of launching the new standards 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.

As part of this initiative, CIRO is seeking feedback on its proposed proficiency model. CIRO is proposing the proficiency model shift from a course centric model with exams tied to courses, to an assessment centric model with some mandatory education and training.

The proposed model is intended to deliver the following benefits:

  • Raise the proficiency bar,
  • Lower the cost of licensing and entry barriers for end-users,
  • Improve alignment to firm training,
  • Improve program currency and relevancy and be more responsive to industry change.


Notices about this consultation:

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