March 26, 2018 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada has published for public comment proposed Continuing Education (CE) requirements for mutual fund advisors. These requirements will put in place a new continuing education regime for mutual fund advisors in Canada.
“The MFDA’s CE initiative forms part of our ongoing effort to further enhance advisor proficiency and professionalism. We believe that raising the standard of advisor knowledge through enhanced proficiency requirements will ultimately benefit Canadian investors and further promote investor confidence,” said MFDA President and CEO Mark Gordon.
The MFDA currently offers education, training and resources on regulatory compliance to its Members. The CE initiative will provide the MFDA with a greater understanding of individual advisor competencies and will require advisors to meet specific CE requirements with respect to three distinct competency areas: (1) business conduct, (2) regulatory compliance and (3) professional development. The initiative will also allow for the MFDA to provide oversight over CE programs taken by advisors to enhance their knowledge of current and emerging issues.
The proposed CE requirements are set out in MFDA Bulletin #0743-P.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 82,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA’s complaint and enforcement processes, as well as links to ‘Check an Advisor’ and other Investor Tools, visit the For Investors page on the MFDA website.