The Canadian Securities Administrators (CSA) requires all registered dealers (including those within CIRO jurisdictions) and advisers to provide training to their registrants aligned to the Client Focused Reforms (CFR) initiative that was introduced in 2021. The training requirement is also applicable to other member firm staff such as compliance personnel.
The reforms are based on the fundamental concept that clients’ interests come first in their dealings with firms and individuals that are registered to give investment advice and trade in securities. They also require that registrants address material conflicts of interest in the best interest of their clients.
The CSA expects all firms under its jurisdiction to implement, maintain and document their training program to ensure that everyone at the firm understands the standards of conduct when dealing with clients. This program focuses on existing CIRO rules as well as the amendments that align their rules with the CSA’s CFR initiative.
The CFR training program can also be purchased as a bundle to fulfill CIRO CE Cycle 10 requirements.
What are the courses included in this program? *
The CFR training program includes five courses:
* Please note: The Client Focused Reform (CFR) courses for CIRO CE compliance (IIROC Cycle 10 and MFDA Cycle 2) have undergone significant revisions from the CFR courses offered in the previous CE Cycle. They are distinguished by the reference to CFR 2024 Series in their titles, differentiating them from the previous cycle’s CFR courses. Each of these courses has received accreditation as a new course. The CFR 2024 Series courses not only offer a refresher of the CFR rules, but also incorporate critical new and updated information derived from regulatory reviews of firms’ practices related to the CFRs and, where needed, provides enhanced regulatory clarification of the rules. The aim is to offer additional guidance to approved persons.
Who should enrol?
CIRO approved persons and other staff subject to the CFR training requirement
- Meets the CSA training requirements under the Client Focused Reforms (CFR) initiative
- Reflects CFR aligned for CIRO jurisdictions and relevant to CIRO investment dealers and mutual fund dealers and their staff
- Incorporates specific firm-based policies in these areas, particularly concerning conflicts of interest
- Uses a range of examples throughout the course materials to demonstrate concepts
- Accredited for continuing education (compliance) for CIRO investment dealers and mutual fund dealers, CSF, Insurance councils and CSI and other designations