2704. Continuing education requirements

1. 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

2. 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.  

3. All continuing education participants must complete at least 10 hours of compliance courses in each continuing education program cycle.

4. 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.