Advising Representative of a Portfolio Manager

Regulation 31-103 respecting Registration Requirements and Exemptions sets out the minimum education and experience requirements for each registration category.

To obtain a representative's certificate, the future professional must:

Step 1: Meet the education and experience requirements

One of the following two conditions must apply:

  • The representative has earned a CFA charter and has 12 months of relevant investment management experience in the 36-month period before applying for registration;

  • The representative has received the Canadian Investment Manager designation and has 48 months of relevant investment management experience, including 12 months in the 36-month period before applying for registration.

Step 2: Enrol in the NRD

Associate Advising Representative of a Portfolio Manager

Regulation 31-103 respecting Registration Requirements and Exemptions sets out the minimum education and experience requirements for each registration category.

To obtain a representative's certificate, the future professional must:

Step 1: Meet the education and experience requirements

One of the following two conditions must apply:

  • The representative has completed Level 1 of the Chartered Financial Analyst program and has 24 months of relevant investment management experience;

  • The representative has received the Canadian Investment Manager designation and has 24 months of relevant investment management experience.

Step 2: Enrol in the NRD

Chief Compliance Officer of a Portfolio Manager

Regulation 31-103 respecting Registration Requirements and Exemptions sets out the minimum education and experience requirements for each registration category.

To obtain a representative's certificate, the future professional must:

Step 1: Meet the education and experience requirements

One of the following three conditions must apply:

  1. The individual has:

    1. earned a CFA charter or a professional designation as a lawyer, chartered accountant, certified general accountant or certified management accountant in a jurisdiction in Canada, a notary in Québec, or the equivalent in a foreign jurisdiction
    2. passed the Canadian Securities Course exam This link will open in a new window (CSI) and the PDO exam or the Chief Compliance Officers qualifying exam This link will open in a new window; and
    3. either:
      • gained 36 months of relevant securities experience while working at an investment dealer, a registered advisor or an investment fund manager; or

      • provided professional services in the securities industry for 36 months and worked at a registered dealer, registered advisor or investment fund manager for 12 months;

  2. The individual has passed the Canadian Securities Course exam This link will open in a new window (CSI) and the PDO exam or the Chief Compliance Officers qualifying exam This link will open in a new window and any of the following apply:

    • the individual has worked at an investment dealer or a registered advisor for 5 years, including for 36 months in a compliance capacity;
    • the individual has worked for 5 years at a Canadian financial institution in a compliance capacity relating to portfolio management and worked at a registered dealer or registered advisor for 12 months;
  3. The individual has passed the PDO exam or the Chief Compliance Officers qualifying exam This link will open in a new window and has met the requirements for an advising representative to a portfolio manager.

Step 2: Enrol in the NRD

The employer submits the registration form via the NRD.

Chief Compliance Officer of an Investment Fund Manager

Regulation 31-103 respecting Registration Requirements and Exemptions sets out the minimum education and experience requirements for each registration category.

To obtain a representative's certificate, the future professional must:

Step 1: Meet the education and experience requirements

One of the following three conditions must apply:

  1. the individual has

    1. earned a CFA Charter or a professional designation as a lawyer, Chartered Accountant, Certified General Accountant or Certified Management Accountant in a jurisdiction of Canada, a notary in Québec, or the equivalent in a foreign jurisdiction,
    2. passed the Canadian Securities Course Exam This link will open in a new window and the PDO Exam or the Chief Compliance Officers qualifying exam This link will open in a new window, and
    3. either
      • gained 36 months of relevant securities experience while working at a registered dealer, a registered adviser or an investment fund manager, or

      • provided professional services in the securities industry for 36 months and worked in a relevant capacity at an investment fund manager for 12 months.

  2. the individual has
    1. passed the Canadian Investment Funds Course Exam (IFSE This link will open in a new window), the Canadian Securities Course Exam This link will open in a new window, or the Investment Funds in Canada Course Exam This link will open in a new window, and
    2. passed the PDO Exam or the Chief Compliance Officers qualifying exam This link will open in a new window, and
    3. gained 5 years of relevant securities experience while working at a registered dealer, registered adviser or an investment fund manager, including 36 months in a compliance capacity.
  3. the individual has met the requirements of a Chief Compliance Officer of a Portfolio Manager.

Step 2: Enrol in the NRD

The employer submits the registration form via the NRD This link will open in a new window.

Derivatives Advising Representative

The Derivatives Regulation This link will open in a new window and Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations set out the minimum education and experience requirements for each registration category.

To register as a representative, the future professional must:

Step 1: Meet the education and experience requirements

The prescribed requirements are as follows:

Step 2: Enroll in the National Registration Database (NRD)

The employer submits the enrollment form via the NRD This link will open in a new window.

Derivatives Associate Advising Representative

The Derivatives Regulation This link will open in a new window and Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations set out the minimum education and experience requirements for each registration category.

To register as a representative, the future professional must:

Step 1: Meet the education and experience requirements

The prescribed requirements are as follows:

Step 2: Enroll in the National Registration Database (NRD)

The employer submits the enrollment form via the NRD This link will open in a new window.

Chief Compliance Officer for the Derivatives Portfolio Manager

The Derivatives Regulation This link will open in a new window and Regulation 31-103 respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations set out the minimum education and experience requirements for each registration category.

To register as a chief compliance officer, the future professional must:

Step 1: Meet the education and experience requirements

The prescribed requirements are as follows:

Step 2: Enroll in the National Registration Database (NRD)

The employer submits the enrollment form via the NRD This link will open in a new window.

Officer responsible for derivatives

If the chief compliance officer is not in compliance with the derivatives registration requirements, the firm appoints an officer responsible for derivatives under exemption 2010-PDG-0132 (pdf - 105 KB)This link will open in a new window (in French only).