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Branch Managers Course (BMC)

 

Lead a Successful Team Of Professionals

This course teaches the fundamentals of tier one supervision techniques, effective in overseeing Investment Advisors, Investment Representatives and Mutual Fund Salespeople. Obtain the necessary skills and confidence to lead and inspire employees at all levels.

Learn About:

  • The regulatory system for securities supervision in Canada
  • How to identify money laundering and other suspicious activities
  • Reporting and recordkeeping requirements, and how to handle client complaints
  • Institutional Trading and Supervision

Learning Experience

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

  • Learning objectives that keep you focused
  • Online post-chapter review questions to assess your progress
  • Course updates to ensure you’re learning the most current and up-to-date practical material in your studies
  • Assistance from CSI's academic support specialists

What You'll Learn

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Topics covered in this chapter are:

  • The Purpose of Regulation

  • The Government Regulators

  • The Self-Regulatory Organizations

  • The Canadian Investor Protection Fund (CIPF)

  • MFDA Investor Protection Corporation (IPC)

  • Principles-Based Securities Regulation

  • Code of Ethics

  • Standards of Conduct

Topics covered in this chapter are:

  • The Traditional Role of the Gatekeeper

  • Why Is Gatekeeping Important?

  • Gatekeeper for the Capital Markets

  • Gatekeeper for the Public

  • Supervision Implications for IIROC Dealer Members

  • Recent Gatekeeper Cases and IIROC Actions

Topics covered in this chapter are:

  • Key Types of Risks

  • Assessing Risk at the Branch

  • Risk Management

  • Risk Based Approach

  • Implementing Appropriate Controls

  • Regulatory Considerations

  • Risk Analysis and Management—Strategy Development

Topics covered in this chapter are:

  • The Objectives of Supervision

  • Supervisors—Regulatory Structure

  • Designated Supervisors

  • Retail Account Supervision

  • Issues in Branch Supervision

  • Institutional Account Supervision Structures

Topics covered in this chapter are:

  • Know Your Client and Suitability Considerations

  • Fiduciary Duty (and Mandatary)

  • Assessing the New Account Application Form (NAAF)

  • Cash and Margin Accounts

  • Discretionary Accounts

  • Managed Accounts

  • Other Accounts

  • Opening Corporate and Non-Individual Accounts

  • Account Transfers

  • Pending Information

  • Personal Information Protection and Electronic Documents Act (PIPEDA)

  • Typical Account opening Problems

Topics covered in this chapter are:

  • The Cash Account Rule

  • Capital Charges and Restrictions on Delinquent Accounts

  • Exceptions to the Cash Account Rule

  • Guidelines for Supervising Accounts

  • Risk Adjusted Capital

  • Money Laundering and Terrorist Financing

  • Dealing with Errors

Topics covered in this chapter are:

  • Avoiding Client Complaints

  • Types of Client Complaints

  • Regulatory Complaints Required Procedures

  • Regulatory Reporting—IIROC Rule 3100

  • Additional Client Complaint Avenues

Topics covered in this chapter are:

  • Conflicts of Interest

  • Specific Conflict of Interest Disclosures

  • Broker–Client Conflicts of Interest

  • Issuer Disclosures

  • Information Barriers (“Firewalls”) and Restricted Lists

  • Marketing and Advertising/Sales Communications

Topics covered in this chapter are:

  • Institutional vs. Retail Business Lines

  • Institutional Businesses

  • Investment Banking

  • The Research Department

  • Equity and Fixed Income trading

Topics covered in this chapter are:

  • IIROC Enforcement Action Against Compliance or Supervisory Staff

  • Dealing with Real or Potential Infractions

  • How to Approach a Regulator

  • If an Investigator Arrives Unexpectedly

  • IIROC Investigation Procedures

  • Alternative Dispute Resolution

Approximate Hours of Study**
Hours of Study 60 - 75 hours

** In order to provide some guidance to course participants as to the length of time it will take to be sufficiently prepared to write the final examination, CSI has prepared this estimate of the number of hours an average participant could possibly expect to spend studying for a course. Please note that these are only recommended hours of study developed based on research and our course content, however, this does not mean that some students with exceptional backgrounds would not take less time than recommended or that students with no background at all in finance or economics would not take longer than the maximum.

EXAM WEIGHTINGS
Canadian Securities Regulatory Mandates and Environment 7%
Gatekeeper Responsibilities 11%
Branch Risk Analysis and Management 10%
Supervision Structures 9%
Opening Client Accounts 12%
Maintaining Client Accounts 13%
Dealing with Client Complaints 9%
Conflicts of Interest and Disclosures 9%
Investment Banking and Trade Desk Supervision 13%
Dealing with the Regulators 7%

 

EXAM INFORMATION  
Exams 1
Exam Format Paper or Computer Based
Exam Duration 2 Hours
Question Format Multiple Choice
Questions Per Exam 75
Attempts Allowed Per Exam 3*
Passing Grade 60% (Per Exam)
Assignments None
ENROLMENT PERIOD  
Enrolment Period 1 year
COURSE COMPLETION NOTICE AND WALL CERTIFICATE

On successful completion of 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 indication of course completion.

CSI will mail you a wall certificate within 4 - 6 weeks of course completion. If you would like to purchase a frame to display your certificate please click here. Please ensure that your First and Last Name on your profile match your First and Last Name on your Government Issued Photo identification - this will ensure you receive an accurate certificate.

CSI will be pleased to issue an Honors Certificate to all students who obtain a final course mark of 85% or higher.

*There is no charge for your first attempt at a paper-based exam within Canada, as long as it's at a regular exam center and you provide a minimum of 14 days notice before the date that you want to write the exam. If you would like to write a computer-based exam, an additional fee will be required.

Each subsequent paper-based exam attempt at a regular exam centre within Canada will also require an additional fee. This fee is in addition to any special, computer-based or international fees that may apply. You must provide a minimum of 14 days notice within Canada at a regular exam centre and 4 weeks notice for all other centres. Please note that the date of the exam is not part of any notice period.

†Please note: Access to your online materials will close 2 weeks after successful course completion or course expiry (whichever comes first). This course can be extended by 1 year provided you have not exceeded the attempts allowed for each exam. You can view CSI extension fees here. Your enrolment period can only be extended one time.

Important: During a student's enrolment period, CSI may update this course. In that case, details about the update and how it may affect students will be posted online via My CSI. Students are held responsible for and are examinable on the content in the course textbook(s) provided at the time of enrollment unless stated otherwise in My CSI. Students are encouraged to check My CSI regularly throughout their enrolment period.

Continuing Education (CE) Credits

Click the links below or the buttons at the top of the page on the right side to access CE accreditation information. To search for specific course information, press Ctrl + F and then enter the course name to search the document for the information you are interested in.

National/Provincial (Excluding Quebec)
Download CE Chart (PDF, 163 kb)

Quebec (IQPF/CSF)
Download IQPF/CSF Chart (PDF, 182 kb)

Please note: While CSI makes every effort to ensure that the information is up-to-date, we are unfortunately unable to fully guarantee its accuracy. The information listed in the charts above may be subject to change.

For details on the organizations and other information on CE Credits listed in the above charts, please click here.