The Mutual Fund Dealers Association of Canada (MFDA) says it has recognized the Institute for Advanced Financial Education as a third-party accreditor for the MFDA’s continuing education (CE) program, which came into effect on December 1, 2021.

In a completely separate application made last week to recognize the country’s new self-regulatory organization (SRO) formed by the amalgamation of the Investment Industry Regulatory Organization of Canada (IIROC) and the MFDA, both organizations say pre-amalgamation MFDA and IIROC continuing education requirements will continue to apply to all dealer members of the new SRO once it comes into being in January 2023.

In its announcement about the institute, the MFDA say the organization has demonstrated that it is in compliance with MFDA requirements. “By recognizing the institute, it is able to accredit CE activities for the MFDA CE program,” they write. “By recognizing third-party accreditors, the MFDA is providing flexibility and choice, which can reduce duplication with other CE programs while maintaining high standards.” 

The MFDA says all participants or approved persons must complete the required number of credits in each CE cycle. “Each cycle will be two years in length, starting December 1 of each odd numbered year,” they write. “Participants registered as dealing representatives must take 30 credits total in each cycle.”