The Investment Industry Regulatory Organization of Canada has published a consultation paper regarding its proficiency assurance model.
IIROC is undertaking this consultation as part of a comprehensive review to determine whether the existing proficiency model best serves the public interest, and whether it meets IIROC’s and the industry’s regulatory needs going forward.
In developing this consultation paper, the organization has benchmarked its education and testing model against proficiency assurance models being used by other regulators in Canada and internationally.
“High proficiency standards play a critical role in investor protection and the integrity and efficiency of the Canadian capital markets,” says Susan Wolburgh Jenah, IIROC’s president and CEO. “As industry and investor needs evolve, this consultation represents an opportunity to have a meaningful dialogue with all stakeholders to ensure that we continually enhance the standards of proficiency and professionalism in the industry.”
IIROC regularly reviews the proficiency standards and continuing education requirements applicable to IIROC registrants to ensure educational and proficiency content is regularly updated to reflect current marketplace issues and practices.
The paper is broad in scope and poses a number of consultation questions. The comment period is open until November 17, 2014.
IIROC’s consultations will also include presentations to and discussions with IIROC member firms, as well as IIROC advisory committees and District Councils, and roundtable discussion groups.
To learn more about IIROC’s current curriculum and ongoing mandatory CE requirements, click here.