The Canadian Securities Administrators (CSA) requires all registered dealers (including those within IIROC and MFDA jurisdictions) and advisers to provide training to their registrants aligned to the Client Focused Reforms (CFR) initiative that is to be 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 IIROC and MFDA 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 IIROC CE Cycle 9 requirements.
The CFR training program includes five courses:
IIROC and MFDA approved persons and other staff subject to the CFR training requirement