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IIROC Recognizes the CFA Designation

As we begin the new year, I wanted to make you aware of a professional and career-enhancing benefit to all members who hold, or are interested in pursuing, the CFA designation in Canada.

For those of you who currently work (or are looking to work) for a firm that is a member- firm of the Investment Industry Regulatory Organization of Canada (IIROC), did you know:

  1. You may qualify for an exemption from rewriting licensing courses, including the Canadian Securities Course and Wealth Management Essentials Course?

    Under Dealer Member Rule 2900, IIROC recognizes individuals who have passed CFA Level III from having to re-write the following licensing courses if certain criteria are met.

    The Canadian Securities Course (CSC)

    If an individual has no prior approval with IIROC, to qualify for the exemption, the individual must:

    For more information on IIROC’s CE program please visit: www.iiroc.ca.

  2. In addition to the above recognitions, IIROC recognizes the three levels of the CFA Program for the Registered Representative that provides discretionary portfolio management for managed accounts that do not trade in futures contracts. IIROC also recognizes the completion of the CFA Program for an individual who will be conducting discretionary portfolio management on managed accounts trading in futures contracts or futures contract options under Dealer Member Rule 2900.
  • Complete all three levels of the CFA Program, and
  • Complete CFA Level III within the two years prior to seeking IIROC registration.

    If an individual was previously approved with IIROC in a capacity requiring the CSC, the individual must:

  • complete all three levels of the CFA Program, and
  • complete CFA Level III within the three years prior to seeking IIROC registration.

    The Wealth Management Essentials course (WME)

    An individual who has completed all three levels of the CFA Program is exempt from rewriting the WME if the individual is seeking approval within two years of completing all three CFA Program levels.

  1. You may claim professional development (PD) or compliance (CM) credit for IIROC’s continuing education (CE) program after passing of each CFA Level Examination. For example, under Cycle 7 of IIROC’s CE program, the following CE credits may be available:

    Examination

    CE Credits available

    CFA Level I

    20 PD or 10 CM

    CFA Level II

    20 PD or 10 CM

    CFA Level III

    20 PD or 10 CM

If you have any questions, you may contact CFA Institute Inigo Bengoechea at inigo.bengoechea@cfainstitute.org or IIROC through its Toronto registration inquiries line at 416-943-6899 or via email at registration@iiroc.ca.

Sincerely,

Christopher May
Managing Director, CFA Societies Canada

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