Investor Alert:
CIRO is issuing a warning to Canadian investors regarding Canada Token Trade.
Effective Date: December 31, 2021
IIROC is publishing guidance regarding the requirement to complete the 30 or 90-day training program.
This Guidance Note will discuss:
Subsection 2602(3) of the IIROC Rules sets out the proficiency requirements for each category of approval. The following categories of approval are required to complete the 30 or 90-day training program as follows:
Subsections 2627(1) and 2628(6) of the IIROC Rules provide exemptive relief for individuals that meet certain criteria from having to complete or recomplete the 30 or 90-day training program. An individual is exempt from completing or recompleting the 30 or 90-day training program if the individual requests approval within three years of being approved or registered in a capacity allowing trading of, or advising in, securities for retail clients either:
Previous approval or registration in the above context refers to:
As a result, an individual who was approved as an RR dealing with institutional clients would be required to complete the 90-day training program, if applying to be an RR dealing with retail clients. Previous approval in a restricted category, such as RR dealing with institutional clients, would not exempt an individual from having to complete the 90-day training program.
IIROC Rules this Guidance Notes relates to:
This Guidance Note replaces MR0472 – 30/90 Day Training Program.
This Guidance Note was published under Notice 21-0190 - IIROC Rules, Form 1 and Guidance.
See also the following Guidance Notes: