Learning Something New – CIRO's Proposed New Proficiency Model

The Canadian Investment Regulatory Organization (CIRO) has released a consultation paper that should be reviewed by every dealer member of the self-regulatory organization. CIRO's proposed new proficiency model represents a significant change from current requirements and moves away from requiring exams tied to courses toward an assessment model with specific mandatory continuing education and training elements. The model is currently only focused on individuals at investment dealers.

The proposed new model would not include any mandatory courses but would require all prospective approved persons to write a general industry exam based on competencies common across all CIRO registration categories. Once the general exam is completed, an individual registrant would require sponsorship from a dealer prior to being permitted to write the additional exams, which will be specific for each approved person category (based on the proposed competency profiles which we have