The investment dealer division of the Canadian Investment Regulatory Organization (CIRO) announced the publication of its final set of competency profiles for approved persons. The administrative bulletin published September 25 states that one of the primary purposes of the competency profiles is to provide vendors with information to support the development of education content and examinations.
CIRO states in the bulletin that it intends to publish a request for proposal (RFP) for prospective education services vendors this fall.
“In the previous notices, we committed to publishing the final competency profiles for all approved categories well in advance of the expiry of the contract with the Canadian Securities Institute (CSI), our current education service provider. We recognize that the profiles may need to be updated from time to time to reflect updated regulatory requirements. At this time, we are not planning on publishing another update prior to December 31, 2025 (when the CSI’s contract expires),” they state, adding that they plan to update the competency profiles periodically going forward.
Published in three phases, the first consultation was initially launched in 2020. “The previously published competency profiles and related reference documents have been updated in response to comments received following the notices published between 2020 to 2022. Updates also reflect regulatory changes since their initial publication, and address inconsistencies and opportunities for improvements otherwise identified,” they write. The bulletin also itemizes all of the affected and applicable investment dealer and partially consolidated rules.
