AMF adopts exceptional measures to help candidates finish their probationary period
The Autorité des marchés financiers (AMF) has instituted special measures during COVID-19 to help candidates who want to get into the financial planning realm complete their probationary period.
The AMF says that under certain circumstances, these exceptional measures will make it possible for candidates to complete their probationary period prior to passing their exams.
Measures taken because of COVID-19
The AMF had to suspend its in-room exam sessions due to public health measures introduced by the Quebec government to limit the spread of COVID-19. The AMF's new temporary measures are intended to enable all candidates to continue 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.
If such a probationary period is completed successfully the candidate will be recognized by the AMF if the candidate passes the prescribed exams before December 31, 2020.
Must be attached to a firm to supervise trainees
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.
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.