Investment Dealer Compliance Course (IDCC)

What will you learn about?

Recent changes and new standards have led to a greater emphasis on compliance protocols. The Investment Dealer Compliance Course is a two-part course designed to provide individuals with the background knowledge required to pursue a career in compliance.

Part I Provides the foundational knowledge required for the role of a compliance officer. You will learn:

  • The role of compliance and the regulatory environment
  • Industry structure and processes
  • Risk management techniques
  • Formal compliance structure
  • Policies and procedures
  • Complaints and recordkeeping requirements
  • Supervision and monitoring techniques
  • How to handle regulatory investigations
  • Soft skills

Part II provides an opportunity for the students to apply their knowledge in a series of compliance scenarios. After completing part II, you will be able to:

  • Understand compliance violations in both retail and institutional account settings
  • Identify possible compliance violations including lack of suitability, insider trading and manipulative trading
  • Identify and analyze the additional information required to determine whether a compliance violation has occurred
  • Determine the appropriate course of action

What is the course syllabus?

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Chapter 1 - So you Want to be a Compliance Officer

Topics covered in this chapter are:

  • Overview of the Compliance Function
  • Compliance Officer Academic Qualifications
  • Soft Skills
  • Career Progression
  • Other matters to consider

Chapter 2 - The Role of Compliance

Topics covered in this chapter are:

  • Definition of Compliance
  • Compliance and Corporate Governance
  • What is a Culture of Compliance?
  • Balancing Revenue Interests with Compliance Risks
  • Risks of Non-Compliance

Chapter 3 - Canada’s Regulatory Environment and Securities Law

Topics covered in this chapter are:

  • The Purpose of Regulation
  • Principles versus Rules-Based Regulation
  • Key Legislation and Players in Securities Regulation
  • Provincial Legislation and Agencies
  • Canadian Securities Administrators (CSA) and Multi-Jurisdictional Regulations
  • Canadian Securities Regulator Transition Office (CSTO)
  • Corporate Legislation
  • Other Provincial Laws and Regulations
  • Foreign Regulators
  • Federal Legislation
  • Criminal Law and Potential Liabilities
  • Legal Obligations and Concepts

Chapter 4 - Full-Service Brokerage

Topics covered in this chapter are:

  • The Evolution of the Full-Service Brokerage Business
  • Account Types and Sources of Revenue
  • Profitability Drivers
  • Risks
  • Full-Service Brokerage Compliance

Chapter 5 - Discount Brokerage

Topics covered in this chapter are:

  • In the Beginning
  • Compliance at Discount Brokers
  • Growth and Business Models
  • Technology in the Business
  • Sources of Revenue
  • Key Risk Factors
  • Key Success Factors
  • Business Measures
  • Business and Product Linkages
  • Key Trends and Developments

Chapter 6 - Investment Banking Business

Topics covered in this chapter are:

  • Structure of Investment Banking
  • Description of Investment Banking Functions
  • Success and Risk Factors
  • Trends and Challenges

Chapter 7 - Risk Management

Topics covered in this chapter are:

  • Risk Management overview
  • Types of Risk
  • Lines of Business
  • Assessing Risk
  • Balancing Compliance and Business
  • Risk-Based Approach
  • Methods of Reducing Risk
  • IIROC Risk Trend Report (RTR)

Chapter 8 - Formal Compliance Structure

Topics covered in this chapter are:

  • Compliance Department Mandate and the Assignment of Compliance Responsibilities
  • Roles and Responsibilities
  • Compliance Structure
  • Compliance Department Organization – Best Practices
  • Compliance Governance Document

Chapter 9 - Registration

Topics covered in this chapter are:

  • Individual Registration/Approval and Related Proficiency Requirements
  • Continuing Education
  • Supervisory Functions
  • Dual Licensing for Securities and Life Insurance
  • The National Registration Database (NRD)
  • Termination of Registration
  • Reporting Material Changes
  • Reporting and Record Keeping Requirements
  • Jurisdictional Registration Issues

Chapter 10 - Development of Policies and Procedures

Topics covered in this chapter are:

  • Regulatory Requirements
  • Separating Policy and Procedure
  • Development and Amendment Process
  • Implementation
  • Content and Format
  • Dissemination
  • Review, Revise and Archive

Chapter 11 - Client Accounts and Supervision

Topics covered in this chapter are:

  • Client Relationship Model (CRM)
  • Know Your Client (KYC) and Suitability Considerations
  • Fiduciary Duty (and Mandatary)
  • Assessing the New Account Application Form (NAAF)
  • Cash Accounts
  • Discretionary Accounts
  • Managed Accounts
  • Account Transfers
  • Personal Information Protection and Electronic Documents Act (PIPEDA)
  • Typical Account opening Problems
  • Guidelines for Supervising Accounts

Chapter 12 - Recordkeeping Requirements

Topics covered in this chapter are:

  • IIROC Recordkeeping Requirements
  • Universal Market Integrity Rules (UMIR) Recordkeeping Requirements
  • FINTRAC Reporting and Recordkeeping Requirements
  • PIPEDA and Provincial Privacy Legislation Reporting and Recordkeeping Requirements
  • Other Records
  • Retention and Accessibility

Chapter 13 - Addressing Client Complaints

Topics covered in this chapter are:

  • Avoiding Client Complaints
  • Types of Client Complaints
  • Regulatory Complaints – Required Procedures

Chapter 14 - Investment Banking and Trade Desk Compliance

Topics covered in this chapter are:

  • Institutional VS. Retail Business Lines
  • Institutional Businesses
  • Investment Banking
  • The Research Department
  • Equity and Fixed Income trading

Chapter 15 - Monitoring

Topics covered in this chapter are:

  • Monitoring and Surveillance Systems
  • Formal Monitoring Techniques
  • Internal and External Examinations
  • Key Control Points
  • Client Acceptance/Account Approval
  • Order Entry and Trading
  • Funds and Securities Movements
  • Hiring
  • Business Location Supervision
  • Retail Activity Monitoring and Surveillance
  • Employee Personal Trading
  • Privacy
  • National Do Not Call List
  • New Products

Chapter 16 - Regulatory Investigations

Topics covered in this chapter are:

  • Internal Investigations
  • External Investigations
  • Investigations by Other Legal and Regulatory Authorities

Chapter 17 - Soft Skills

Topics covered in this chapter are:

  • Introduction
  • Communications
  • Additional Soft Communication Skills
  • Emotional Intelligence Quotient (EQ)
  • People Skills

How will you learn?

CSI’s online learning system helps you meet your study goals. You’ll benefit from:

  • Textbook readings available in PDF and printed format
  • Course materials accessed through your computer or laptop
  • Learning objectives that help you to keep the learning focused
  • Online assistance from CSI’s academic support specialists

Course Completion

Upon successfully completing this course, you will be able to download a Notice of Course Completion available through your student profile. This will remain on your profile as formal confirmation of course completion. Please note that a certificate will not be issued upon completion of this course.

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