Investor Alert:
CIRO is warning investors about fraudsters impersonating CIRO-registered firms in social media advertisements.
Investment Dealers
To enrol in an exam, pay or schedule an exam please visit the enrolment portal
To schedule an exam, after enrolment, please visit the candidate portal
To enrol in the Conduct Training, please visit the enrolment portal
To access the Conduct Training after enrolment, please visit the candidate portal
We have moved to an assessment centric model (i.e. exams) without mandatory courses.
You can find a copy of the new rules which set out the proficiency requirements relating to exams for each Approved Person category, education and experience requirements, dealer training, Conduct Training, and other exemption and transition provisions, through the following link: CIRO Proficiency Model for Approved Persons under the Investment Dealer and Partially Consolidated Rules.
We have published guidance in the following areas that dealers should review:
You can find out more information about the new CIRO exams on the Exam Hub. For each exam type, we have included a syllabus, practice exam and Guide for Studying to assist those taking an exam, and potential education providers who are looking to offer preparatory courses. Dealers should also refer to our Competency Hub for information relating to Approved Person competencies as they consider their Approved Persons’ training needs.
We also have Webcasts that cover key topics from exemptions and transition provisions to Guidance on Firm Training are available here for CE credit.
For information on the required exams for each Approved Person category, please refer to the applicable rule.
CIRO exams will be offered in-person and through remote, online proctored options. Candidates will be able to enrol, schedule and pay for exams using the new Enrolment and Candidate Portals. Upon completion, they will be issued a confirmation that can be shared with their dealer in order to report those on NRD as needed.
One of the benefits of the new proficiency model is that it has reduced the cost of examination and removed some barriers to entry. Fees can be paid by Candidates through the Enrolment portal.
The fee for the first exam attempt in an enrollment period is $475. The enrollment period begins when an individual pays the exam fee and continues to a maximum of 12 months, during which time the individual may complete up to three exam attempts for the exam, subject to a retake fee of $300 for each second and third attempt.
There will be a cooling off period of 6 months, associated with those that attempt and fail an exam three times in a 6-month period.
Candidates will be able to sign up through the Enrolment and Candidate Portals. Through the portals, candidates can select an exam category, schedule and pay for their exam. Once the exam is successfully completed, candidates will be issued confirmation. See below with regard to information on Firm Portal.
The enrolment portal is also used for enrolling in the Conduct Training for Approved Persons. Once enrolled, candidates can complete the Conduct Training through the Candidate Portal.
To enrol in an exam, new candidates can sign up through the Enrolment Portal. Through the portal, candidates can select an exam category and pay for their exam.
As an option, dealers may choose to sign up for a Firm Portal. The Firm Portal provides dealers with the ability to purchase (via credit card) and enrol applicants or Approved Persons in exams directly. Individual and batch enrolment options will be available. Dealers will also be able to access exam results and reports relating to candidates, including Conduct Training results for their Approved Persons.
For more information on the Firm Portal please contact [email protected].
Yes. The CIRO exam list will be available on NRD which will allow dealers to report completion as part of their application for approval for an individual.
Yes. Test Centre locations are available across Canada. Individuals can schedule an appointment as it fits them.
To access the enrollment and candidate portals, please visit the Exam Hub.
Once Conduct Training is successfully completed, Approved Persons will be issued a completion confirmation, that they need to share with their dealer in order to report their completion on NRD and on CIRO Services. Dealers need to communicate their policies and procedures on reporting completion to their Approved Persons,
Dealers will need to report candidates’ completion on NRD.
Failure to complete, and report on the completion of the Conduct Training, by the above prescribed deadlines, will result in an automatic suspension.
In 2026, the Conduct Training will also satisfy the mandated annual CE requirement; completion for the purpose of tracking mandated annual CE needs to be reported on CIRO Services-CE.
More information for current Approved Persons can be found on our dedicated sites for New Candidates and Existing Approved Persons.
They enroll in it through the enrolment portal and complete it through the candidate portal. A reminder that this is Conduct Training provided by CIRO through this link.
All new Approved Persons will need to complete the Conduct Training within 30 days of approval. Completion must be reported by the dealer on NRD within 30 days of approval.
All existing Approved Persons, will need to complete the Conduct Training by no later than December 31, 2026. The completion must be reported by the dealer on NRD by no later than December 31, 2026.
Yes. As part of the current Continuing Education requirements, Approved Persons will be subject to one to three hours of mandatory Continuing Education per year as determined by CIRO. For the first year of the new model (2026) the Conduct Training will satisfy this requirement and will account for three hours of compliance credits. Dealers will need to report its completion for Mandated Annual CE purposes on CIRO Services-CE, in addition to reporting on NRD for post approval purposes within the prescribed timelines.
Please refer to Transition and Exemption related matters here.
Please refer to Transition and Exemption related matters here.
Yes, please review your policies and procedures, including onboarding practices and training. Please refer to IDPC rules and Guidance on the new CIRO Proficiency Model for Approved Persons of Investment Dealers – Exemptions, Recognition, Transition and Validity Provisions
Under the new model, there will only be one derivatives product category.
Those that are currently qualified to trade in both options and futures, will be mapped over to the new derivatives category.
Under the new model, applying for one of options or futures will not be available as those will be legacy categories. An individual who satisfies the requirements of both options and futures trading, dealing or supervising, and satisfies the 2629(1) conditions can apply to the new derivatives category.
To be clear, 2629(1) does not provide an exemption from the new categories; the options only or futures only categories will not be available as of January 1, 2026 irrespective of the 2629(1) transition provision that is with respect to courses.
The CE cycle of two years remains the same. The new IDPC rules introduce a new annual CE mandated by CIRO for CE participants. In 2026, the completion of Conduct Training in 2026 will satisfy the annual mandatory CE for 2026 and will account for three hours of compliance credits. Dealers will need to report its completion for Mandated Annual CE purposes on CIRO Services-CE, in addition to reporting on NRD for post approval purposes within the prescribed timelines.
Please review the new CE rules within new IDPC 2700 (PDF).
Please refer to Transition and Exemption related matters here.
Welcome to CIRO.ca!
You can find the Canadian Investment Regulatory Organization (CIRO) at CIRO.ca with our fresh look and feel.