Right to practise
Consult the description of the different rights to practise as listed in the Register of firms and individuals authorized to practise.
A
C
- Chief Compliance Officer (Investment Fund Manager)
- Chief Compliance Officer (Mutual Fund Dealer)
- Chief Compliance Officer (Portfolio Manager)
- Chief Compliance Officer (Restricted Portfolio Manager)
- Chief Compliance Officer (Restricted Dealer)
- Chief Compliance Officer (Scholarship Plans)
- Claims adjustment
- Claims adjustment in commercial-lines damage insurance
- Claims adjustment in personal-lines damage insurance
- Claims adjustment in respect of policies purchased through the firm for which the agent or the broker acts
- Commercial-lines damage insurance (agent)
- Commercial-lines damage insurance (broker)
D
- Damage insurance (agent)
- Damage insurance (broker)
- Dealing Representative (Investment Dealer)
- Dealing Representative (Mutual Fund Dealer)
- Dealer Representative (Restricted Dealer)
- Dealing Representative (Scholarship Plan Dealer)
- Derivatives Advising Representative
- Derivatives Associate Advising Representative
- Derivatives Representative
- Director
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:
| |
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):
| 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 | |
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 | |
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 | |
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 | |
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:
| |
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:
|
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:
| |
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:
| |
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:
| Canadian Investor Protection Fund (CIPF) |
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) |
Dealing Representative (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) |
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) | |
Dealing Representative (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). | |
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) |
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 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:
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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 | Authorized to offer group insurance of persons products and group annuity plans. Examples of products offered:
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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. |
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) | 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:
| |
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 | 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:
|
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 |
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:
| |
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:
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. |
S
Right to practise | Authorized titles | Authorized advisory services | Authorized products | Compensation |
|---|---|---|---|---|
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. |
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.
- 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.
- Consult the Assistance and complaints or Compensation section.
- Contact an AMF Information Centre agent.