The IIAC recognizes that the acquisition of a talented team is a top priority for firms in their efforts to best serve investor needs. The IIAC commends CIRO on its efforts to modernize proficiency requirements. The IIAC continues to actively contribute to these positive developments which widen the available pool of qualified job candidates through a simplified, competitive process, which includes:

• The elimination of mandatory courses tied to exams.
• Updated exam content.
• The benefits of a free, competitive market for exam preparation courses.
• A more inclusive, market approach to education and experience requirements.  

The IIAC made further recommendations relating to CIRO’s latest consultation which include:

• A series of suggestions to minimize cost and administration.
• Deference to firm hiring decisions.
• Concurrent and similar changes to the mutual fund dealers’ proficiency regime, which should be consolidated with and administered by CIRO.
• Exam content, study guides and competencies profiles subject to expert preparation and annual review.
• The substance of the proposed conduct training in all prescribed exams, underscoring its importance and rendering separate training unnecessary.

Details of our recommendations are found here.