News Release

IFIC responds to consultation on the harmonization of CIRO’s continuing education programs

March 18, 2025 (Toronto) – The Investment Funds Institute of Canada (IFIC) has submitted feedback on the Canadian Investment Regulatory Organization’s (CIRO) proposal to harmonize its continuing education (CE) program.

CIRO aims to align the CE requirements for mutual fund and investment dealer members that were originally developed by its predecessor organizations, the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC).

“We support CIRO’s goal to harmonize CE rules to create a fair, consistent, and proportionate regulatory regime,” said Andy Mitchell, President and CEO, IFIC. “IFIC members agree that continuous learning promotes and upholds high proficiency and ethical standards.”

In our submission, we urge CIRO to ensure the CE regime reflects the industry’s commitment to high standards while avoiding unnecessary burden on dealers. We also highlight the critical role of technology in the new CE regime as well as the potential impact of excluding mutual fund dealers’ dealing representatives in Quebec from this initiative. We ask CIRO to address these and other issues to prevent added complexity, especially for dealers and registrants with obligations to other regulatory or credentialing bodies.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together approximately 150 organizations, including fund managers, dealers, professional and back-office service providers, to strengthen the integrity of the investment funds industry, foster public confidence in investment funds, and enable investors to achieve good outcomes. By connecting savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.

For more information

Christine Harminc
Senior Manager, Communications and Public Affairs
charminc@ific.ca