2628. Course validity and exemptions from rewriting courses

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    1. Courses are valid for three years from the date of successful completion. 

    2. An applicant for approval must rewrite a course if the applicant has not been approved in a category listed in subsection 2602(3) requiring the course within the last three years.

    3. The courses and examinations listed in Rule 2600 includes every prior or successor course or examination provided that it does not have a significantly reduced scope and content when compared to the course or examination listed in Rule 2600, as determined by IIROC

    4. For the purposes of determining course validity, an Approved Person is not considered to have been approved during any period in which the Approved Person’s approval was suspended or the individual was on leave or not conducting any activities requiring IIROC approval on behalf of the Dealer Member.

    5. The validity periods do not apply to the Canadian Investment Manager Designation, the Chartered Investment Manager Designation and the CFA Charter provided the holders of these designations continue to have the right to use the designation and the designation has not been revoked or otherwise restricted.

    6. An individual is exempt from rewriting the courses as set out in the table below if the individual has met the current status criteria and exemption criteria.

    7. Course

      Individual’s current status

      Exemption criteria

      Partners, Directors and Senior Officers Course

      • has previously been approved as an officer (prior to September 28, 2009) and surrendered registration with the introduction of IIROC approval category of Executive
      • applicant for approval who has maintained continuous employment with a Dealer Member in a senior capacity and remained in the corporate registry of a Dealer Member as an officer since September 28, 2009

      Chief Financial Officers
      Qualifying Examination

      • has never been approved as a Chief Financial Officer
      • the applicant for approval has demonstrated to IIROC’s satisfaction that the applicant has been working closely with and assisting the Chief Financial Officer since the completion of the Chief Financial Officers Qualifying Examination

      Derivatives Fundamentals
      Course

      • an applicant for approval or Approved Person who will be dealing with clients in futures contracts,  or futures contract options or supervising Approved Persons who deal with such clients  
      • applicant seeking approval or filing a notice within three years of passing the Futures Licensing Course or the Canadian Commodity Supervisors Exam 

      Derivatives Fundamentals
      Course

      • an applicant for approval or an Approved Person dealing with clients, in options, or supervising Approved Persons who deal with such clients
      • applicant seeking approval or filing a notice within three years of completing the Options Licensing Course or the Options Supervisors Course

      Wealth Management Essentials
      Course

      • an applicant for approval or Approved Person who will be dealing with retail clients in securities
      • all three levels of the CFA Program or the CFA Charter administered by the CFA Institute which continues to be in good standing

      90-day Training Program

      • an applicant for approval or Approved Person

      Applicants seeking approval or filing a notice within three years of being approved or registered in a capacity allowing trading of, or advising in, securities for retail clients either:

      • by a recognized foreign regulatory authority or recognized foreign self-regulatory organization,

      or

      • as an advising representative by a securities regulatory authority 

      30-day Training Program

      • an applicant for approval or Approved Person

      Applicants seeking approval or filing a notice within three years of being approved or registered in a capacity allowing trading of, or advising in, securities for retail clients either:

      • by a recognized foreign regulatory authority or recognized foreign self-regulatory organization

      or

      • as an advising representative by a securities regulatory authority 

    There is no history log for this rule.

    There is no history log for this rule.