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ARTICLE · 29 SEPTEMBER 2023

CIRO Proposes Clarifications To Proficiency Requirements

Borden Ladner Gervais LLP
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In late August, the Canadian Investment Regulatory Organization (CIRO) released Bulletin 23-0096 Proposed Clarifying Amendments to Registration and Proficiency Requirements.

CanadaFinance and Banking
AUM Law
AUM Law
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In late August, the Canadian Investment Regulatory Organization (CIRO) released Bulletin 23-0096 Proposed Clarifying Amendments to Registration and Proficiency Requirements. The proposed amendments are intended to clarify the proficiency requirements following the implementation of the IDPC Rules on January 1, 2023. Among other changes, CIRO proposes to align the requirements for supervisors of managed accounts with the requirements of other supervisors in Rule 2600, by introducing the requirement to complete the Investment Dealer Supervisor Course and omitting the requirement to have the same relevant investment management experience as portfolio managers. In addition, CIRO has proposed changes to allow an individual registered as an AR or AAR by a securities regulatory authority within the last 90 days (rather than within the last 2 weeks) to take up to three months to complete the Conduct and Practices Handbook Course. Comments on the proposed amendments are due

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