FAQs

Changes to the New FCSI

  1. How do the changes to the new FCSI affect me?
    Existing FCSIs will automatically be transitioned to the new FCSI on September 21, 2011. The changes that will directly affect you are as follows:

    • A grace period is being offered to FCSI alumni. You will have a choice between CE and IC to meet the ongoing requirement. As the requirement on your declaration is always for the calendar year following renewal, those renewing in 2011 will have a choice between 14 hours of CE and 12 hours of IC for the 2012 calendar year. Please note that FCSIs renewing in 2012 are committing to the IC requirement starting on January 1, 2013.

    • Your annual attestation to the FCSI Code of Ethics, Trademark Licence Agreement and Licence Renewal Fee of $325 will remain the same.

    • 10% of all FCSIs will be randomly audited each year for compliance with the industry contribution requirement. The audit will not take effect until the following calendar year after membership renewal (e.g., if your membership comes up for renewal between September 21, 2011 and December 31, 2011, you are not required to provide proof of industry contribution until January 1, 2013.

      Your renewal date may have changed to reflect the date you were originally granted the FCSI. For example, if you were granted the FCSI on December 1, 2009 but did not renew your licence until April 30, 2011, you will be required to pay your next renewal fee on December 1, 2011. This is now an automated process and is in keeping with other membership-type organizations.

    • Upon 3 separate communications and a 60-day grace period, CSI has implemented a $50 administration late fee against FCSIs who have let their membership lapse.

    • We ask that you deplete your current inventory of marketing materials using the old FCSI logo by December 31, 2011. You will find the FCSI logo, usage guidelines and templates in the FCSI Login section of the FCSI website at www.fcsi.ca. Please note, CSI will not reimburse you for current inventory.

Benefits

  1. What benefits is CSI providing to support the new FCSI?
    The FCSI licence entitles you to enjoy many benefits, including the ability to:

    • Use the prestigious FCSI trademarks (including "FCSI," "Fellow of CSI" and the FCSI logo) on business cards, letterhead and marketing materials
    • Have a personalized listing in the online FCSI Directory
    • Benefit from our national advertising campaign that creates awareness of the FCSI
    • Use the FCSI Login section of the FCSI website to access special resources such as the personalized client brochure, advertising template, pre-written articles, logo usage and guidelines and white papers
    • Increase your leadership profile by teaching seminars, writing articles, reviewing and writing exam questions and mentoring
    • Get Front-of-the-Line VIP Customer Service when you call into CSI
    • Join the FCSI LinkedIn community to stay in touch with your peers
  2. Will CSI continue to offer the FCSI mailout brochures?
    Yes. FCSIs now have the option of downloading a fillable PDF, which they can personalize with their contact information and print for their clients. Alternatively, they can have commercially printed brochures by downloading an FCSI Client Brochure order form and submitting to amy.umpleby@moodys.com.
  3. Will I receive a new framed certificate?
    No. Current FCSIs may continue to use their existing framed wall certificate.

Maintaining Your FCSI Status

  1. Will the renewal fee change?
    There will be no change to the current fee. FCSIs renewing their annual membership will continue to pay a fee of $325 on a yearly basis. Existing FCSIs will automatically be transitioned to the new Fellow upon renewal and will abide by the new requirements going forward.

  2. Am I required to renew my FCSI membership so I can keep using "FCSI on my business card?
    Yes. All FCSIs who wish to use the FCSI trademarks ("FCSI, "Fellow of CSI and the FCSI logo) will need to renew their membership on an annual basis. For more information, please see the FCSI Trademark Licence Agreement.

  3. What are the ethics requirements to maintain my FCSI status?
    All FCSIs must adhere to the FCSI Code of Ethics. FCSIs are required to complete and submit a signed Ethical Conduct Statement, located on the annual FCSI renewal form, during every 12-month period, January 1 to December 31.

  4. What happens if someone has launched a complaint against me?
    If allegations or complaints are made against you, you will not be able to complete your application online. You must download an application form (located at www.csi.ca/forms), complete it and submit it, along with copies of your legal, criminal or disciplinary proceedings. You must also forward your application form and the details to CSI. It is recommended that this information be sent by Canada Post.

  5. What are the industry contribution requirements to maintain my FCSI status?
    All FCSIs are required to earn 12 hours of industry contribution credits each calendar year. The first-year cycle will commence on January 1 following the year you were granted the FCSI. For information on the new Industry Contribution requirement, log in to www.fcsi.ca and click on Industry Contribution.

  6. Does CSI issue a tax receipt for membership dues?
    CSI does not issue TAX RECEIPTS for membership dues, as this is not a course-related activity. We issue SALES RECEIPTS to Fellows and designation holders who paid membership fees.

    For any fees paid to CSI for membership (such as for the FCSI), you may use the SALES RECEIPT for income tax purposes for deduction supporting documentation ONLY if you are an FCSI getting revenues from commissioned sales. Only then can you can use the sales receipt to deduct the membership fees on your income taxes.

  7. If I hold more than one CSI credential in good standing (FCSI®, CIM®, CSWP®, PFP® or MTI®), is there a special renewal price for my FCSI?
    FCSI is pleased to offer a tiered discount structure for those who hold multiple credentials in good standing. If you have an FCSI and a CIM, then you will receive $50 off each CSI credential upon renewal. Therefore you will pay $275 for each CSI designation, as long as both credentials remain in good standing. If you have three CSI credentials in good standing (for example: an FCSI, CIM and CSWP), you will receive $100 off each credential and pay $225 for each designation - as long as all of your credentials remain in good standing. If you have four CSI credentials in good standing (for example: an FCSI, CIM, CIWM and PFP), you will receive $150 off each credential and pay $175 for each designation - as long as all of your credentials remain in good standing.

  8. How is my renewal date set?
    FCSI renewal is based on the anniversary date of the FCSI being granted. In other words, if your FCSI was granted on April 30, 2012, your renewal date will always be set to April 30 each year going forward.

  9. How will I receive notification of my renewal?
    4 weeks and 1 week prior to expiry, you will receive an email from CSI notifying you of your upcoming renewal. You will then receive a reminder letter by Canada Post following 30 days, notifying you that you that your membership has expired.

  10. What does the renewal process entail?
    You will be given a link to renew your membership online. Simply click on the link, complete the information, provide payment and click on the Submit button. You will receive automated confirmation by email.

  11. What happens if my FCSI membership lapses?
    FCSIs who do not renew their membership will be deemed "not in good standing and will receive a letter stating that they are no longer eligible to use the FCSI trademark. Your name will be removed from the FCSI Public Directory. If an FCSI holder continues to use the trademark, then legal action may be taken.

  12. How do I reinstate my FCSI membership?
    FCSIs who allow their membership to lapse will be required to complete the following steps to be reactivated:

    • Prove industry contribution requirements have been met
    • Attest to the FCSI Code of Ethics and Trademark Licence Agreement
    • Pay a $50 administration late fee
    • Pay a $325 annual fee

FCSIs are provided with the opportunity to reactivate their membership after a maximum lapse of 5 years. After 5 years have lapsed, the individual seeking reactivation will no longer be eligible and will be required to re-take and successfully complete the Financial Services Industry: Business Drivers and Challenges (FSDC) course and meet the experience requirement.

FCSI Directory

  1. Why does my name and contact information no longer appear on the FCSI Public Directory?
    To ensure that your name and contact information appear in the Directory, you must renew your FCSI membership for the current calendar year. CSI must also have a record of your business address on file. To ensure that we do, go to www.csi.ca under the Student Resources section, and sign into the Student Profile section to update your information.

  2. My contact information has changed. How do I change this on the FCSI directory?
    To update your information on the Directory (i.e., address, phone number, etc.) go to the FCSI Directory and click on the Update Your Directory Profile button. It will take approximately 24—48 hours for your new information to be displayed.

Front-of-the-Line VIP Customer Service

  1. Will FCSIs continue to receive Front-of-the-Line VIP Customer Service?
    FCSIs will continue to receive priority service via the Customer Service Centre. Calls will be forwarded to the front of the queue. Call 416-364-9130 or call toll-free 1-866-866-2601 and press 5 for FCSI Front-of-the-Line VIP Customer Service.

  2. Is there an email address I can send a question to?

    Yes, you can email the FCSI hotline at fcsi@csi.ca.