After completing the minimum qualifications and passing the AMF examinations, you will need to do a probationary period before applying for a representative’s certificate.
Before your probationary period begins, you will need to meet certain conditions and do certain things to confirm your ability to undertake a probationary period in a manner consistent with regulatory requirements.
Visit the page General rules: Probationary period to learn more.
Before starting your probationary period, you will need to:
- check whether you are eligible;
- find an employerIOSCO (International Organization of Securities Commissions) est l’organisme international qui regroupe les autorités de réglementation des marchés de valeurs mobilières et des produits dérivés à travers le monde.
Il est reconnu comme l’instance de référence mondiale en matière d’élaboration de normes pour la réglementation des marchés financiers.
Il compte plus de 200 membres issus de plus de 130 juridictions. and a supervisor; - complete the statement of applicant after your employer has submitted an application for authorization; and
- wait until you receive a probationary certificate before beginning your probationary period.
1. Check whether you are eligible
To be eligible for a probationary period, you will need to:
- have passed the examinations prescribed by the AMF;
- ensure that your examinations will still be valid when your probationary period beginsNOTE;
- be authorized to work in Québec; and
- not be in any situation that might prevent the AMF from authorizing your probationary periodNOTE.
- In the damage insurance sector or claims adjustment sector or a class of these sectors, an examination is valid for a period of two years from the date the applicant passed the examination.
- In the insurance of persons sector or group insurance of persons sector, an examination is valid for a period of one year from the date the applicant passed the first examination.
- In the mortgage brokerage sector, an examination is valid for a period of two years from the date the applicant passed the examination.
IMPORTANT
The probationary period may not be commenced until the date confirmed via the formal authorization received from the AMF. Any hours worked prior to authorization may not be included in the hours accumulated during the probationary period.
The AMF may refuse to authorize a probationary period in certain situations prescribed by regulation. For example, if:
- you are in any of the situations set out in section 56 of the Regulation respecting the issuance and renewal of representatives’ certificates
This link will open in a new window, namely:- a disciplinary sanction has been imposed on you by the disciplinary committee of the Chambre de l’assurance, the Organisme d’autorégulation du courtage immobilier du Québec or by a disciplinary council of a professional order;
- you have not paid outstanding fines and costs imposed as a disciplinary sanction;
- you have not paid a fine related to an offence committed under theAct respecting the distribution of financial products and services This link will open in a new window, the Act respecting market intermediaries This link will open in a new window, the Securities Act This link will open in a new window or the Real Estate Brokerage Act This link will open in a new window; or
- you have not paid the fees payable under the Regulation respecting fees and contributions payable.
- you are in any of the situations set out in sections 219 and 220 of the Act respecting the distribution of financial products and services This link will open in a new window, namely:
- sanctions have been imposed on you by a disciplinary committee or a body in Québec, another province or another state that is responsible for supervising and monitoring persons acting as representatives;
- you have been convicted by a court inside or outside Canada of an indictable offence or criminal act linked to the pursuit of the activity of representative;
- you are under tutorship or a protection mandate;
- you have previously declared bankruptcy or you have been placed under a receiving order;
- you do not possess the degree of honesty considered necessary to pursue activities as a representative; or
- you are in a situation incompatible with the pursuit of activities as a representative.
2. Find an employer and a supervisor
You are responsible for finding:
- an employer registered with the AMF in the relevant sector; and
- a supervisor to support you during your probationary period.
It is important that you choose the right employer and the right supervisor.
We recommend meeting with your supervisor prior to your probationary period to discuss:
- your respective expectations;
- how you would like to work together;
- the type of support provided;
- your supervisor’s availability;
- the degree of independence expected from you; and
- the obligations and responsibilities to be fulfilled during the probationary period as prescribed by the Regulation respecting the issuance and renewal of representatives’ certificates.
Take advantage of this meeting to ask any questions you may have.
Starting off with a clear understanding of each other’s expectations can make the probationary period go more smoothly.
End of the insight3. It is the employer’s responsibility to apply for authorization of a probationary period
The employer submits the application for authorization of a probationary period to the AMF.
The application provides the AMF with information on all the parties involved in your probationary period, including:
- you (the trainee);
- the employer; and
- the supervisor(s).
Fees are charged for the application under the Regulation respecting fees and contributions payable. The fees also include a contribution to the Fonds d’indemnisation des services financiers (financial services compensation fund).
When you are issued a probationary certificate by the AMF, you obtain the right to perform certain professional activities reserved for representatives but to perform them only within the bounds of the framework authorized by the AMF and under the supervision of an authorized supervisor.
4. Complete the statement of applicant
Before the employer submits the application for authorization of a probationary period, you will need to complete the statement of applicant.
You will have to complete the statement each time an employer submits an application for authorization of a probationary period on your behalf.
This statement requires you to disclose any:
- bankruptcies;
- consumer proposals;
- convictions; and/or
- other activities that involve dealing with the public (“outside activities”).
To find out how to submit your statement, refer to How to apply for authorization of a probationary period.
Once it has performed the necessary checks, the AMF will confirm the start date of the probationary period when it sends you the probationary certificate.
Your statement must be complete and accurate. An incomplete statement may delay the processing of your application.
End of the insight5. Wait to receive your probationary certificate from the AMF
Once it has performed the necessary checks, the AMF will confirm the start date of the probationary period when it sends you your probationary certificate.
The probationary certificate is an official document issued by the AMF. It indicates:
- your identity;
- the authorized sector or sector class;
- the supervisor(s); and
- the validity period of your certificate.
The certificate authorizes you to use the title of trainee for the duration of your probationary period. It also assures the public that you are authorized to carry on activities as a trainee.
For as long as your probationary certificate is valid, your name will appear in the Register of firms and individuals authorized to practise. You will need to ensure that your name is listed in the register before carrying out any professional activities reserved for certified representatives.
Such professional activities are covered by:
- the employer’s professional liability insurance; and
- the Fonds d’indemnisation des services financiers.
These protections will help protect consumers while you are engaged in competency development as a trainee by, among other things, giving them access to compensation if they suffer injury caused by an error, an omission, fraud or embezzlement resulting from a trainee’s fault.
Important
You may not begin your probationary period until the date indicated on the formal authorization issued by the AMF.
Unauthorized practice will be considered illegal practice and may result in sanctions.
End of the warningTo learn about your obligations as a trainee, refer to the page During the probationary period
FAQs
Can I begin the probationary period before receiving my probationary certificate?
No. You must wait until you have received your probationary certificate from the AMF.
Who will submit the application for authorization?
The employer will submit the application.
Will I need to complete a statement of applicant?
Yes. You will need to complete one each time an employer applies for authorization for you.
Why check the AMF register?
It’s to make sure your name has been listed in the register, as reserved professional acts cannot be performed by you only until that happens.
What happens if an application is incomplete?
An incomplete application can delay application processing and the start of your probationary period.