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ARTICLE · 05 NOVEMBER 2024

Building Up CIRO's Proficiency Proposals

Borden Ladner Gervais LLP
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Earlier this month, CIRO released an Amendment regarding individual Approved Person proficiencies. The purpose of the amendment is to eliminate a conflict between National Instrument 31-103...

CanadaFinance and Banking
AUM Law
AUM Law
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Earlier this month, CIRO released an Amendment regarding individual Approved Person proficiencies. The purpose of the amendment is to eliminate a conflict between National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and the Investment Dealer and Partially Consolidated Rules concerning the proficiency required for mutual fund only registered representatives who change jobs and are sponsored by a dual registered dealer who wish to continue to transact in exempt market products. The amendment clarifies that mutual fund only licensed individuals sponsored by a dual registered dealer must have the proficiencies to transact in all securities in order to transact in exempt market products.

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