Before hosting a trainee, the employer will need to meet certain conditions and take certain steps with the AMF.

The AMF expects the employerThe employer is the firm, independent partnership or independent representative registered with the AMF in the sector for which the trainee will be undertaking the probationary period. to provide the trainee with a work setting in which the trainee can develop their competencies under adequate supervision while ensuring that clients are protected.

This page describes the conditions to be met, the application for authorization to be submitted and the rules for designating a supervisor.

Before the probationary period, you will need to:

  • be registered with the AMF in the applicable sector;
  • maintain professional liability insurance that covers the professional acts of the trainee;
  • designate eligible and available supervisors;
  • submit the application for authorization of a probationary period;
  • pay or have a third party pay the required fees; and
  • wait until the trainee receives their probationary certificate before allowing them to begin.

On this page:

Conditions to be met by employers

To host a trainee, a firm, independent partnership or independent representative must:

  • be registered with the AMF in the same sector for which the trainee wishes to complete their probationary period;
  • maintain professional liability insurance that is consistent with regulatory requirements and covers the professional acts of the trainee;
  • pay or cause to have a third pay the fees for analyzing the file and the contribution to the Fonds d’indemnisation des services financiers;
  • ensure that their representatives, including those acting as supervisors, comply with the laws and rules of ethics and professional conduct;
  • ensure that the supervisors fulfill their obligations; and
  • put in place the conditions that will enable the trainee to develop the competencies required to practise the profession.

To learn about the responsibilities of the other individuals involved in the probationary period, refer to the Trainees and Supervisors sections.

Application for authorization of a probationary period

The employer is responsible for submitting the application for authorization of a probationary period to the AMF. This application is used to identify:

  • the employer;
  • the trainee;
  • the supervisor(s);
  • the sector or sector classes concerned; and
  • the desired start date of the probationary period.

Fees are payable for the application process under the Regulation respecting fees and contributions payable This link will open in a new window. In addition, a contribution is payable to the au Fonds d’indemnisation des services financiers.

To learn about the steps you will need to take, refer to the How to apply for authorization of a probationary period section.

A person may not start a probationary period before receiving a probationary certificate from the AMF indicating the confirmed start date.

Any hours completed before the authorized date may not be included in the calculation of the required number of hours for the probationary period.

How many supervisors are you allowed designate?

You may designate as many as four supervisors on the same application for authorization form. Designating two or more supervisors can help:

  • ensure supervision continuity;
  • cover absences or periods of unavailability;
  • cover all sector classes concerned;
  • avoid gaps of time without supervision.

All the supervisors named in the application will be considered to have the trainee under their supervision and will therefore meet the eligibility criteria and obligations applicable to supervisors.

Before designating a person, ensure that they:

  • meet the conditions required by the AMF;
  • are authorized to practise in the sector or sector class concerned;
  • have the time required to coach the trainee; and
  • have the qualities and skills needed to ensure adequate supervision.

How many trainees is a supervisor allowed to coach?

A representative who acts as a supervisor is allowed to have as many five trainees under their supervision at a given time. A representative who is primarily engaged in supervision is allowed to coach as many as 10 trainees, provided:

  • you have designated the representative as a supervisor; and
  • the designation is declared to the AMF before the representative assumes the supervisor role.

Representatives primarily engaged in supervision must satisfy the same eligibility conditions and obligations as a regular supervisor. Among other things, they must have the time, qualities and skills needed to adequately coach all the trainees under their supervision.

Declare a representative primarily engaged in supervision

To designate one or more representatives primarily engaged in supervision, you will need to submit the Application for representative primarily engaged in supervision form to the AMF via E-Services.

The designation must be submitted to and processed by the AMF before the representative may supervise more than five trainees at any given time.

This form can also be used to withdraw the designation once it is no longer needed.

Hosting a trainee who is repeating the probationary period

You may submit a new application for authorization of a probationary period for a trainee who did not successfully complete the probationary period on their first attempt.

In this case, the trainee will need to prepare a written document explaining what actions they intend to take to address the deficiencies identified by:

  • their supervisor(s) or
  • the AMF.

This document will need to be signed by:

  • the trainee and
  • the supervisor.

You will need to forward this document to the AMF when the new application for authorization of a probationary period is submitted. In addition, the trainee’s examinations will need to be valid at the time they begin their new probationary period.

Insight

Pre-probationary period checklist

Before the start of the probationary period, make sure that:

  • your organization is registered in the sector concerned;
  • your professional liability insurance covers the trainee’s professional acts;
  • the supervisor(s) selected meet the AMF’s conditions;
  • the supervisors have sufficient time to coach the trainee;
  • the application for authorization has been submitted;
  • the fees have been paid;
  • the trainee has completed the statement of applicant;
  • the trainee has received their probationary certificate;
  • the trainee’s name is listed in the AMF register; and
  • the trainee begins their probationary period on the date authorized by the AMF.
End of the insight

What to do during the probationary period

FAQs

Is it possible for the employer to have a third party pay the fees?

Yes. The employer may select “paid by a third party” as its payment method option, indicating the client number of the third party so that the invoice is sent to the third party’s file.

Is a supervisor allowed to coach more than five trainees?

Yes, if the supervisor has been designated by the employer as a representative primarily engaged in supervising probationary periods and the designation is declared to the AMF beforehand, the supervisor may coach as many as 10 trainees.

Can an application be submitted for a trainee who is unsuccessful?

Yes. After a first unsuccessful attempt, a document explaining how the trainee will address the identified deficiencies will have to be attached to the new application form. If the candidate is unsuccessful on the second attempt, a change in supervisors will need to be made.