IFSE Institute’s exchange traded fund course recognized by MFDA

By The IJ Staff | July 24 2017 08:56AM


The Investment Funds Institute of Canada (IFIC) and its educational arm, IFSE Institute (IFSE), have announced that IFSE has launched a new ETF course that meets the proficiency standards issued last week by the Mutual Fund Dealers Association of Canada (MFDA).

“Our new ETF course will enhance the ability of advisors to create portfolios that meet their clients’ needs, leading to better outcomes for investors,” stated Paul C. Bourque, IFIC’s president and CEO and the chair of IFSE’s board of directors, in an announcement July 21.

New proficiency standard

The MFDA’s Policy 8, which sets out the new proficiency standard, indicates that IFSE’s ETF course meets the MFDA’s requirements, says the announcement. IFSE was able to achieve this milestone by initiating upgrades to its ETF course based on proposals contained in the MFDA’s consultation paper, issued in July 2015.

“The new standard elevates the abilities of advisors and strengthens investor protection,” Bourque added. “We commend the regulators for this initiative.”

“We began to modify our course early so that we could launch it as soon as the MFDA’s final proficiency standards were released,” said Christina Ashmore, managing director of IFSE Institute.

Trains advisors on mechanics of the product

IFSE’s course trains advisors on the mechanics of the product, how to obtain market quotes, types of trades accepted, disclosure and record-keeping requirements, and how trade orders are processed. It covers suitability requirements, the know-your-product rule, and due diligence.