WHAT ARE THE MAINTENANCE REQUIREMENTS?
To represent yourself an as active CIM® in good standing - and to uphold the prestige of your letters - you must renew your designation annually.
All CIM®s must renew their designation by their anniversary date (the date the designation was originally granted). You will receive reminders 4 weeks and 1 week prior to your deadline.
YOU MUST MEET THE FOLLOWING MAINTENANCE REQUIREMENTS:
The world we work and live in is constantly evolving. As a financial advisor and portfolio manager it is critical that you commit to lifelong learning and have a handle on the trends and issues that affect your industry - and, most importantly, your clients.
The CE cycle and hours of CE required for a CIM® holder have been aligned to the IIROC requirements. However, CE content requirements for the CIM® designation holder must align with the CIM® competency profile and CE guidelines as posted by CSI.
CE is to be completed based upon a 2-year cycle beginning January 1, 2018 and ending December 31, 2019. CIM® holders are required to complete 20 hours in professional development and 10 hours in compliance during this cycle.
If you earn your CIM® in the first year of the IIROC CE cycle (2018), you must complete your CE requirements by December 31, 2019
If you receive your CIM® in the second year of the IIROC CE cycle (2019), you're subject to CE requirements starting (starting January 1, 2020)
For further information on the changes to the CIM® CE requirements to align with IIROC please refer to this document
CE content must fall within the CIM® Professional Competency Profile and knowledge associated with the CIM® designation. Examples of knowledge areas are:
|Regulation||Managed product selection|
|Ethics||Alternative investment selection|
|Standards of practice||Structured product selection|
|Sales and marketing||Investment Policy Statement (IPS)|
|Client discovery and interaction||Implementing the IPS|
|Analysis of environment||Portfolio construction|
|Asset allocation and investing styles||Portfolio monitoring, measuring and rebalancing|
Tools and Resources
Qualifying Activity Providers
Courses can be taken from CSI or other external providers (e.g., community colleges, universities, other professional education providers or in-house at your employer). It is up to you/your employer to determine if a course meets CSI's CIM® CE Course Guidelines.
Activity & Hours Tracking
Make sure you retain supporting documents to confirm completion of CE credits. Each cycle, a percentage of CIM®s will be audited to verify the CE hours claimed on their designation renewal applications.
- Code of Ethics
- CIM®s must re-commit to the CIM® Code of Ethics each year.
- To continue using the CIM® trademarks in your own marketing, CIM®s must re-commit to the Certification Mark Licence Agreement each year.
IF YOU DO NOT RENEW
Designation holders who do not renew will be deemed to be "not in good standing." You will receive a letter stating that you are no longer eligible to use the CIM® trademarks. If you continue to use the trademarks, then legal action may be taken.
You will also be removed from CIM® Directory.
WHAT IS THE REINSTATEMENT POLICY?
If you are late with your renewal, but not past 12 months of your renewal date, you will be required to pay a late fee of $50 in addition to standard annual licence fee.
If you have not renewed within 12 months of your license renewal date, you will be required to pay a late fee of $50, a reinstatement fee of $275 and the standard annual licence renewal fee of $275. You will also be asked to prove completion of your CE requirements for all the cycles of non-renewal. This will require you to submit transcripts showing course completion dates as well as course outlines.
CIM®s are given the opportunity to reactivate their licence after a lapse of up to 5 years. If your designation has lapsed for more than 5 years, you will be required to re-take and successfully complete the Portfolio Management Techniques course and meet the work experience requirement.