The Canadian Securities Institute® (CSI) is the most experienced and trusted financial educator endorsed by regulatory authorities across Canada.
When investors choose to work with a Fellow of CSI (FCSI®), they can feel confident knowing these leaders are held to the highest standards of professionalism enforced through CSI's rigorous process.
CODE OF ETHICS
All FCSI®s agree to abide by the FCSI® Code of Ethics, both when applying for the designation and when renewing it annually. Abiding by the Code means an FCSI® commits to maintaining the highest level of professionalism when dealing with the public.
CSI is committed to overseeing the ethical standards required of its Fellows. We monitor adherence to the FCSI® Code of Ethics through reviews, periodic audits of the Fellow's annual commitment and declaration requirements, handling public complaints and tracking news and regulatory reports.
All candidates are required to declare any legal action, allegations or complaints prior to being granted a designation and also each year upon renewal of that designation. Beginning February 2019, ,this declaration has been adjusted to clarify the information to be declared and a “Fit and Proper Requirement” is now a component of the application. The requirement sets out the following situations for self-declaration:
- Any accusations of professional misconduct, disciplinary or reprimands or license suspensions or revocations by an employer, professional association or administrative or regulatory authority
- Currently bankrupt or in the past 5 years been adjudged bankrupt
- Convicted of a criminal offence in any jurisdiction for which a record suspension or a pardon has not been granted
- Convicted of an offense under any financial services or consumer protection legislation in any jurisdiction
Declaring these situations will not necessarily impact certification or renewal. The Ethics Committee will review each situation individually.
HIGHER STANDARD FOR THE FCSI
The Fellowship is held to a higher standard and no application for the Fellowship will be approved if the applicant has declared bankruptcy within the last 5 years or has ever been convicted of a criminal offence be it financial or otherwise.
All individuals who were granted the FCSI prior to February 1, 2019, will only be required to meet the new standards on future renewal applications. CSI will not request historical information.
Please refer to the FAQ'S on this.
Read the FCSI® Code of Ethics
ETHICAL MISCONDUCT PROCESS
Before filing a formal complaint with CSI, we strongly recommend trying to resolve the issue by speaking directly with the FCSI® in question.
Those who cannot come to a resolution should contact CSI at our special FCSI® complaints email address. Complaint submissions should include:
- Details of the alleged Code of Ethics violation
- Sufficient background information/documentation to support the allegation
- Name and contact details of the complainant
CSI DOES NOT RECOMMEND SHARING CONFIDENTIAL FINANCIAL INFORMATION THROUGH EMAIL.
Allegations of violation of the FCSI® Code of Ethics are dealt with by the Designation Ethics Committee according to the CSI Ethical Misconduct Process. If the Committee determines a violation occurred, a disciplinary sanction is recommended. The FCSI® may accept the recommended sanction or request a hearing.
DISCIPLINARY SANCTIONS COULD INCLUDE THE FOLLOWING:
- A written reprimand from CSI
- Notifying the appropriate regulatory body for possible further investigation
- Recording the violation in the FCSI®'s record
- Requiring the FCSI® to complete a supplementary ethics or professional development course(s).
- Requiring the FCSI® to complete additional industry contribution hours
- Suspending the FCSI®'s licence and use of the FCSI® Certification Mark (for a specific period, indefinitely with conditions for reinstatement, or permanently)
- Imposing other measures deemed appropriate by the Designation Ethics Committee
- Publicizing the violation on the CSI website and/or elsewhere.
AUDITING PROCESS - WORK EXPERIENCE
FCSI® applicants must meet a 7-year work experience requirement prior to being granted the Fellow. CSI will assess all FCSI® applicants for compliance with the experience requirements.
- A request for confirmation will be sent (by email or telephone) to the verifier provided by the applicant on his or her application form
- A copy of the request will be sent to the applicant so they know they are being assessed
- Contacts will be asked to provide confirmation within 30 days of the request
- If the confirmation is not received, CSI will notify the applicant and a copy of the notification will also be sent to the work experience contact
- If a response is not received within 30 days, the applicant and the contact will be contacted again
Misstated or fraudulent reporting of experience will be reported to the Designation Ethics Committee as a violation of the FCSI® Code of Ethics and will be considered according to the Ethical Misconduct Process.
AUDITING PROCESS - CONTINUING EDUCATION
CSI will conduct periodic audits of FCSI®s upon renewal of their Fellow to assess compliance with industry contribution requirements. Designation holders must retain supporting documents to confirm completion of CE credits.
- FCSI®s selected for audit purposes will be sent a letter of notification
- They will be asked to submit documents to verify the industry contribution hours they have indicated on their renewal form
- They will have 60 days to comply with the audit request
Misstated or fraudulent reporting of industry contribution work will be reported to the Designation Ethics Committee as a violation of the FCSI® Code of Ethics and will be considered according to the Ethical Misconduct Process.