CSA Provide Guidance For Advising Representative Applicants

The Canadian Securities Administrators released a staff notice last week that provides prospective Advising Representatives (ARs) and Associate Advising Representatives (AARs) with guidance regarding the relevant investment management experience required to qualify for registration. The notice also provides a summary of decisions made by the CSA based on various fact situations.

Among the other guidance provided, the CSA state that it is unlikely that client relationship management experience would qualify an applicant for AR registration, while corporate finance experience and consulting experience with portfolio manager selection and monitoring may qualify an applicant for AR registration.