Montréal – The Autorité des marchés financiers (AMF) is implementing temporary exceptional measures to facilitate career entry in the sectors governed by the Act respecting the distribution of financial products and services. These measures will, subject to certain conditions, make it possible for candidates to complete their probationary period prior to passing their exams.
The AMF had to suspend its in-room exam sessions due to public health measures introduced by the Québec government to limit the spread of COVID-19. The AMF’s new temporary measures are intended to enable all candidates to continue, and not further delay, the qualification process leading to career entry, notwithstanding the public health crisis.
The AMF will be able to extend the duration of a trainee’s probationary certificate so that the trainee can continue to carry on activities as a trainee pending his or her registration for the exams and the issuance of his or her certificate. This extension may be granted upon the firm submitting an application to the AMF.
Such a probationary period, if successfully completed, will be recognized by the AMF provided the candidate passes the prescribed exams before December 31, 2020.
Only supervisors who are representatives attached to a firm and satisfy the usual qualifications will be eligible to supervise trainees wishing to benefit from this measure. Therefore, independent representatives and representatives of independent partnerships will not be eligible to supervise trainees under this measure.
For more information about the qualifying conditions and how to benefit from this exceptional measure, please refer to the AMF website.
The AMF is continuing to evaluate the possibility of offering exams on-line, in addition to preparing for the resumption of in-room exams when the public health recommendations issued by the government permit it.
The Autorité des marchés financiers is the regulatory and oversight body for Québec's financial sector.
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