Consult the description of the different rights to practise as listed in the Register of firms and individuals authorized to practise.

A

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Accident and sickness insurance

Accident and sickness insurance representative

Representatives are authorized to analyze client needs and provide advice only on individual insurance covering accident and sickness risks.

Only authorized to offer individual insurance products covering accident and sickness risks.

Examples of products offered:

  • Individual disability insurance
  • Individual prescription drug insurance
  • Individual hospitalization insurance
  • Individual accidental death insurance

Fonds d’indemnisation des services financiers

Advising Representative - Portfolio Manager

Advising representative of a portfolio manager

Advising representatives are authorized to act as advisers for all securities except derivatives, unless specifically authorized to do so.

They manage clients’ investment portfolios based on the mandate given. They may therefore be authorized to make investment decisions independently and trade on behalf of the client.

They may also be given a discretionary management mandate for assets in an investment or pension fund.

Contact our Information Centre to find out which products can be offered.

This right to practise is not covered by a compensation fund.

Advising Representative (Restricted Portfolio Manager) 

Advising representative of a restricted portfolio manager

Advising representatives may act as advisers only in respect of certain securities. To find out about the restrictions, contact our Information Centre.

Contact our Information Centre to find out which products can be offered.

This right to practise is not covered by a compensation fund.

Associate Advising Representative -Portfolio Manager

Associate advising representative of a portfolio manager

Associate advising representatives may act as advisers in respect of the same securities as those offered by advising representatives if the advice has been approved by an advising representative. They may, therefore, on approval of an advising representative (portfolio manager):

  • act as advisers for all securities except derivatives;
  • manage the client’s investment portfolio according to the mandate given. The client may therefore authorize the representative to make decisions and trandes on his behalf;
  • may also be given a discretionary management mandate for assets in an investment or pension fund.

Contact our Information Centre to find out which products can be offered.

This right to practise is not covered by a compensation fund.

Associate Advising Representative (Restricted Portfolio Manager)

Associate advising representative of a restricted portfolio manager

Associate advising representatives may act as those offered by advisers in respect of the same securities as advising representatives if the advice has been approved by an advising representative.

They can therefore, upon approval of the advising representative (restricted practice), act only in respect of certain securities.

To find out about the restrictions, contact our Information Centre

Contact our Information Centre to find out which products can be offered.

This right to practise is not covered by a compensation fund.

B

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Branch Manager (MFDA members only)

Not applicable

For more information, contact the Mutual Fund Dealers Association of Canada (MFDA) This link will open in a new window.

A branch manager with only this title is not authorized to offer financial products and services.

Not applicable

C

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Chief Compliance Officer (Investment Fund Manager)

Not applicable

The chief compliance officer establishes and maintains policies to ensure that the firm and the individuals acting on its behalf comply with securities legislation.

A chief compliance officer with only this title is not authorized to offer financial products and services.

Not applicable

Chief Compliance Officer (Mutual Fund Dealer)

Not applicable

The chief compliance officer establishes and maintains policies to ensure that the firm and the individuals acting on its behalf comply with securities legislation.

A chief compliance officer with only this title is not authorized to offer financial products and services.

Not applicable

Chief Compliance Officer (Portfolio Manager)

Not applicable

The chief compliance officer establishes and maintains policies to ensure that the firm and the individuals acting on its behalf comply with securities legislation.

A chief compliance officer with only this title is not authorized to offer financial products and services.

Not applicable

Chief Compliance Officer (Restricted Portfolio Manager)

Not applicable

The chief compliance officer establishes and maintains policies to ensure that the firm and the individuals acting on its behalf comply with securities legislation.

For more information about restricted practice, contact our Information Centre.

A chief compliance officer with only this title is not authorized to offer financial products and services.

Not applicable

Chief Compliance Officer (Restricted Dealer)

Not applicable

The chief compliance officer establishes and maintains policies to ensure that the firm and the individuals acting on its behalf comply with securities legislation.

For more information about restricted practice, contact our Information Centre.

A chief compliance officer with only this title is not authorized to offer financial products and services.

Not applicable

Chief Compliance Officer (Scholarship Plans)

Not applicable

The chief compliance officer establishes and maintains policies to ensure that the firm and the individuals acting on its behalf comply with scholarship plan legislation.

A chief compliance officer with only this title is not authorized to offer financial products and services.

Not applicable

Claims adjustment

Claims adjuster

Claims adjusters are authorized to investigate the circumstances surrounding a loss. They estimate the damages and negotiate the amount of the insurance indemnity between the insurer and the insured. They are authorized to offer services to consumers and businesses.

Not applicable

Fonds d’indemnisation des services financiers

Claims adjustment in commercial-lines damage insurance

Claims adjuster in commercial-lines damage insurance

Claims adjusters can investigate the circumstances surrounding a loss. They estimate the damages and negotiate the amount of the insurance indemnity between the insurer and the insured. They are only authorized to offer services to independent workers and businesses.

Not applicable

Fonds d’indemnisation des services financiers

Claims adjustment in personal-lines damage insurance

Claims adjuster in personal-lines damage insurance

Claims adjusters can investigate the circumstances surrounding a loss. They estimate the damages and negotiate the amount of the insurance indemnity between the insurer and the insured.

They are only authorized to act in the case of a loss relating to property or domestic civil liability incurred by a consumer or independent worker at his residence.

They can also act with respect to residential buildings containing not more than six dwellings.

Not applicable

Fonds d’indemnisation des services financiers

Claims adjustment in respect of policies purchased through the firm for which the agent or the broker acts

Not applicable

These damage insurance brokers or agents can, incidentally, pursue activities as claims adjusters for insurance policies taken out through an insurance firm to which they are attached.

Not applicable

Fonds d’indemnisation des services financiers

Commercial-lines damage insurance (agent)

Commercial-lines damage insurance agent

Agents are authorized to analyze client needs, including those of independent workers, and to provide advice about suitable commercial-lines damage insurance products.

Only authorized to offer damage insurance to businesses and independent workers. Offer the products of only one insurer.

Examples of products offered:

  • Liability insurance
  • Property insurance
  • Automobile insurance
  • Surety insurance
  • Title insurance
  • Legal expenses insurance

Fonds d’indemnisation des services financiers

Commercial-lines damage insurance (broker)

Commercial-lines damage insurance broker

Brokers are authorized to analyze client needs and provide advice about suitable commercial-lines damage insurance products. 

Only authorized to offer damage insurance to businesses and independent workers. Offer damage insurance products of several insurers.

Examples of products offered:

  • Civil or professional liability insurance
  • Property insurance
  • Automobile insurance
  • Surety insurance
  • Boiler and machinery insurance
  • Title insurance
  • Legal expenses insurance

Fonds d’indemnisation des services financiers

D

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Damage insurance (agent)

Damage insurance agent

Agents are authorized to analyze client needs and provide advice about suitable damage insurance products.

Authorized to offer, on behalf of a single insurer, damage insurance to consumers and businesses.

Examples of products offered:

  • Automobile insurance
  • Home insurance
  • Liability insurance
  • Title insurance
  • Surety insurance
  • Legal expenses insurance
  • Boiler and machinery insurance

Fonds d’indemnisation des services financiers

Damage insurance (broker)

Damage insurance broker

Brokers are authorized to analyze client needs and provide advice about suitable damage insurance products.

Authorized to offer damage insurance to consumers and businesses. Offer damage insurance products of several insurers.

Examples of products offered:

  • Automobile insurance
  • Home insurance
  • Liability insurance
  • Title insurance
  • Legal expenses insurance
  • Surety insurance

Fonds d’indemnisation des services financiers

Dealing Representative (Investment Dealer)

Investment dealer representative

Some representatives provide advice and a full range of services, such as analysis of securities and portfolio management.

Others act simply as intermediaries by buying or selling securities on the instructions of their clients. This is the case with discount brokers.

Representatives cannot offer derivatives unless specifically authorized to do so.

Authorized to offer several types of investments.

Examples of products offered:

  • Stocks Bonds
  • Mutual funds
  • Exchange-traded funds (ETFs)

Canadian Investor Protection Fund (CIPF) This link will open in a new window

Dealing Representative (Exempt Market Dealer)

Dealing representative of an exempt market dealer

Representatives provide advice about exempt markets only, i.e., securities distributed under a prospectus exemption.

Authorized to offer investments to certain investors, including accredited investors, such as institutions or high net worth individuals. Can also offer securities distributed under a prospectus exemption.

Canadian Investor Protection Fund (CIPF) This link will open in a new window

Dealing Representative (Mutual Fund Dealer)

  • Mutual fund dealer representative
  • Dealing representative of a mutual fund dealer

Representatives are only authorized to provide advice about mutual funds.

Only authorized to offer units of mutual funds, also called “investment funds”.

Can also offer units of Exchange-Traded Funds (ETFs).

Fonds d’indemnisation des services financiers

Canadian Investor Protection Fund (CIPF) This link will open in a new window

Dealer Representative (Restricted Dealer)

Dealing representative of a restricted dealer

Representatives may act only in respect of certain securities.

To find out about the restrictions, contact our Information Centre.

Canadian Investor Protection Fund (CIPF) This link will open in a new window

Dealing Representative (Scholarship Plan Dealer)

  • Scholarship plan dealer representative
  • Dealing representative of a scholarship plan dealer

Representatives are only authorized to provide advice about scholarship plans (group RESPs). Scholarship plans pool the contributions made by several investors to a Registered Education Savings Plan (RESP). Contributions are made periodically by investors and are used to purchase units.

Only authorized to offer units in scholarship plans (group RESPs).

Fonds d’indemnisation des services financiers

Derivatives Advising Representative

Derivatives advising representative

Advising representatives are authorized to act on behalf of firms registered in derivatives. They can include derivatives within the scope of managing client portfolios.

To find out the types of products, contact our Information Centre

Contact our Information Centre to find out which products can be offered.

This right to practise is not covered by a compensation fund.

Derivatives Associate Advising Representative

Derivatives associate advising representative

Associate advising representatives are authorized to act as advisers in respect of the same securities as those offered by advising representatives if the advice has been approved by an advising representative.

They are authorized to act, with the approval of an advising representative, on behalf of a firm registered in derivatives. Representatives can include derivatives within the scope of managing client portfolios.

To find out the types of products, contact our Information Centre

Contact our Information Centre to find out which products can be offered.

This right to practise is not covered by a compensation fund.

Derivatives Representative

Derivatives dealing representative

These investment dealer representatives are also authorized to offer derivatives.

To find out the types of derivatives, contact our Information Centre.

Canadian Investor Protection Fund (CIPF) This link will open in a new window

Director

Not applicable

A person appointed to the board of directors of a firm registered with the AMF.

A director with only this title is not authorized to offer financial products and services.

Not applicable

F

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Financial planning

Financial planner

Financial planners are authorized to evaluate the client’s financial situation. They are qualified to offer financial planning based on the findings of their analyses and the needs and objectives expressed by clients.

Financial planners holding only this certificate issued by the AMF are not authorized to offer products or specific advice about insurance or securities products.

Fonds d’indemnisation des services financiers

Be careful! Financial planners registered only with a professional order but not with the AMF are not covered under the Fonds d’indemnisation des services financiers.

G

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Group annuity plans

Group annuity plans advisor

Advisors are authorized to advise policyholders (e.g., employers, unions) about group annuity products.

They are authorized to present the products to the individuals who make up a group, but cannot advise them about their individual annuity needs.  

Authorized to offer group annuity products.

Examples of products offered:

  • Group annuity plans
  • Group RRSPs
  • Group retirement savings plans 

Fonds d’indemnisation des services financiers

Group insurance of persons

Group insurance and group annuity plans advisor

Representatives are authorized to advise policyholders (e.g., employers, unions) for groups about group insurance plans and group annuity plans.

They are authorized to present the available coverage to the individuals who make up a group, but cannot advise them about their individual insurance needs.

Authorized to offer group insurance of persons products and group annuity plans.

Examples of products offered:

  • Group annuity plans
  • Group retirement savings plans
  • Group RRSPs
  • Workplace group insurance

Fonds d’indemnisation des services financiers

Group insurance of persons

Group insurance and group annuity plans advisor, C.L.U. or R.L.U. 

“Chartered life underwriter” (C.L.U.) and “registered life underwriter” (R.L.U.) are titles authorized by the Chambre de la sécurité financière. They can only be used by financial security advisors or group insurance representatives registered with the AMF.

For more information, contact the Chambre de la sécurité financière This link will open in a new window

Authorized to offer group insurance of persons products and group annuity plans.

Examples of products offered:

  • Group annuity plans
  • Group retirement savings plans
  • Group RRSPs
  • Workplace group insurance 

Fonds d’indemnisation des services financiers

Group insurance plans

Group insurance plans advisor

Representatives are authorized to advise policyholders (e.g., employers, unions) about group insurance products.

They are authorized to present the available insurance coverage to the individuals who make up a group, but cannot advise them on their individual insurance needs.

Authorized to offer group insurance products to groups, such as workplace group insurance.

Fonds d’indemnisation des services financiers

I

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

IIROC approval only

Not applicable

For more information, contact Investment Industry Regulatory Organization of Canada (IIROC) This link will open in a new window.

Not applicable

Not applicable

Insurance of persons

Financial security advisor

Representatives analyze client needs and provide advice on individual insurance of persons.

Financial security advisors cannot offer a group insurance product. However, they are the only ones authorized to advise group plan members about their individual needs.

Authorized to offer all individual insurance of persons products, namely, coverage for injuries, disability, illness or death, loss of employment and critical illness.

Can offer individual annuity contracts and segregated funds; this can include registered products, such as RRSPs, LIFs or LIRAs.

Examples of products offered:

  • Individual life insurance
  • Individual disability insurance
  • Individual long-term care insurance
  • Individual health insurance
  • Individual critical illness insurance
  • Individual annuities
  • Individual segregated fund contract 

Fonds d’indemnisation des services financiers

Insurance of persons

Financial security advisor, C.L.U. or R.L.U.

“Chartered life underwriter” (C.L.U.) and “registered life underwriter” (R.L.U.) are titles authorized by the Chambre de la sécurité financière. They can only be used by financial security advisors or group insurance representatives registered with the AMF.

For more information, contact the Chambre de la sécurité financière This link will open in a new window.

Authorized to offer all individual insurance of persons products, namely, coverage for injuries, disability, illness or death, loss of employment and critical illness.

Can offer individual annuity contracts and segregated funds; this can include registered products, such as RRSPs, LIFs or LIRAs.

Examples of products offered:

  • Individual life insurance
  • Individual disability insurance
  • Individual long-term care insurance
  • Individual health insurance
  • Individual critical illness insurance
  • Individual annuities
  • Individual segregated fund contract 

Fonds d’indemnisation des services financiers

M

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Mortgage brokerage

Mortgage broker

A mortgage broker is a natural person who, for others and in return for remuneration that is contingent on the making of a loan secured by immovable hypothec, engages in a brokerage transaction relating to such a loan.

Loan mortgage

Fonds d’indemnisation des services financiers

O

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Officer

Officer

This may be the chief executive officer, chief financial officer, chief operating officer or an officer holding a similar function at a firm registered with the AMF.

A person with only this title is not authorized to offer financial products and services.

Not applicable

Other Permitted Individual (as defined in NI33-109 section 1.1 (c))

Not applicable

A permitted individual acts as a trustee, executor, administrator, or other personal or legal representative, that has control over 10% or more of the voting securities of a firm.

For more information about the registration requirements applicable to a permitted individual, contact our Information Centre

A person with only this title is not authorized to offer financial products and services.

Not applicable

P

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Partner

Not applicable

A person who owns a share in a firm registered with the AMF.

A partner with only this title is not authorized to offer financial products and services.

Not applicable

Personal-lines damage insurance (agent)

Personal-lines damage insurance agent

Agents are authorized to analyze client needs and provide advice about suitable personal-lines damage insurance products.

Although they are not authorized to advise businesses, they can advise independent workers only about their domestic needs.

They can also advise owners of residential buildings containing not more than six dwellings. 

Authorized to offer damage insurance to consumers.

Although not authorized to offer insurance products to businesses, can offer damage insurance to independent workers solely for their domestic needs.

Can also offer damage insurance to owners of residential buildings containing not more than six dwellings.

Offer the products of only one insurer.

Examples of products offered:

  • Automobile insurance
  • Home insurance
  • Liability insurance
  • Title insurance
  • Legal expenses insurance 

Fonds d’indemnisation des services financiers

Personal-lines damage insurance (broker)

Personal-lines damage insurance broker

Brokers are authorized to analyze client needs and provide advice about suitable personal-lines damage insurance products.

Although not authorized to advise businesses, they can advise independent workers solely about their domestic needs.

They can also advise owners of residential buildings containing not more than six dwellings. 

Only authorized to offer damage insurance to consumers.

Although not authorized to offer insurance products to businesses, can offer damage insurance to independent workers solely for their domestic needs.

Can also offer damage insurance to owners of residential buildings containing not more than six dwellings.

Offer the damage insurance products of several insurers.

Examples of products offered:

  • Automobile insurance
  • Home insurance
  • Civil and professional liability insurance
  • Title insurance
  • Surety insurance

Although not authorized to offer insurance products to businesses, can offer damage insurance to independent workers for their residential needs. Can also offer damage insurance to owners of residential buildings containing not more than six dwellings.

Fonds d’indemnisation des services financiers

S

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Shareholder

Not applicable

A person who holds shares in a firm registered with the AMF.

A shareholder with only this title is not authorized to offer financial products and services.

Not applicable

Special brokerage

Not applicable

Not applicable

These damage insurance brokers are also authorized to offer the insurance products of an insurer not registered with the AMF where justified by market scarcity.

Market scarcity occurs when at least three insurers registered with the AMF have refused to issue the requested insurance.

Special brokerage does not apply to automobile and surety insurance products. 

Fonds d’indemnisation des services financiers

U

Right to practise

Authorized titles

Authorized advisory services

Authorized products

Compensation

Ultimate Designated Person

Not applicable

The ultimate designated person at a firm registered with the AMF supervises the activities of the firm that are directed towards ensuring compliance with securities legislation by the firm and each individual acting on the firm’s behalf.

An ultimate designated person with only this title is not authorized to offer financial products and services.

Not applicable

Glossary of conditions/restrictions:

For more information about glossary of conditions/restrictions, please contact our Information Centre.

  • Claims adjustment in respect of policies purchased through Lloyd’s: This damage insurance broker or agent can also act as a claims adjuster but only with respect to loss events covered by insurance policies purchased from Lloyd’s Underwriters This link will open in a new window.
  • Attached to a firm where he does not act as a responsible officer: AMF condition imposed on a representative.
  • Be strictly or closely supervised: AMF condition imposed on a representative.
  • Alternative Trading Systems
  • Category Restrictions
  • Day Trading
  • Exempt Market
  • Extra Provincial Adviser
  • Extra Provincial Dealer
  • Foreign Adviser
  • Foreign Dealer
  • Limited to surety insurance
  • Other
  • Supervision
  • Authorization from DP – Change in way to carry on business / Attachment / Registration

Have you witnessed or been the victim of financial crime?

Do you want to file a complaint with a representative or report fraud or suspicious practices to the AMF? Would you like to claim compensation through the Fonds d’indemnisation des services financiers? The AMF can answer your questions and assist you.