- In each continuing education program cycle, a continuing education participant must meet the continuing education requirements for the applicable Approved Person category, regardless of product type, as set out in the following table.
Approved Person Category
Client Type
Compliance course requirement
Professional development requirement
Registered Representative
retail client
Yes
Yes
Registered Representative
institutional client
Yes
No
Investment Representative
retail client or institutional client
Yes
No
Portfolio Manager
retail client or institutional client
Yes
Yes
Associate Portfolio Manager
retail client or institutional client
Yes
Yes
Trader
N/A
Yes
No
Supervisor of Registered Representatives
retail client
Yes
Yes
Supervisor of Investment Representatives
retail client
Yes
No
Supervisor of Registered Representatives or Investment Representatives
institutional client
Yes
No
Supervisor designated to be responsible for the supervision of options accounts
retail client or institutional client
Yes
No
Supervisor designated to be responsible for the supervision of futures contract/futures contract options accounts
retail client or institutional client
Yes
No
Supervisor designated to be responsible for the supervision of managed accounts
retail client or institutional client
Yes
No
Supervisor designated to be responsible for the opening of new accounts and supervision of account activity
retail client or institutional client
Yes
No
Supervisor designated to be responsible for the supervision of discretionary accounts
retail client or institutional client
Yes
No
Supervisor designated to be responsible for the pre-approval of advertising, sales literature and correspondence
N/A
Yes
No
Supervisor designated to be responsible for the supervision of research reports
N/A
Yes
No
Ultimate Designated Person
N/A
Yes
No
Chief Compliance Officer
N/A
Yes
No
-
A continuing education participant registered in more than one Approved Person category must meet the continuing education requirements of the category with the most onerous continuing education requirements.
-
All continuing education participants must complete at least 10 hours of compliance courses in each continuing education program cycle.
-
A continuing education participant that is subject to professional development requirements must complete at least 20 hours of professional development courses in each continuing education program cycle.
2705. – 2714. Reserved.
There is no history log for this rule.