Despite concerns expressed by dealers late last year, the Investment Industry Regulatory Organization of Canada (IIROC) has announced that the Canadian Securities Institute (CSI) will remain its sole provider of proficiency courses until 2020.
During the review process that took place last year the IIAC, which represents 148 IIROC-regulated firms, called the value of the CSI’s courses into question and said many of its members wanted to have a wider range of choice in education and proficiency providers.
However, when IIROC published its new proficiency assurance model on Sept. 22, it revealed that it had negotiated a five-year, exclusive contract with CSI. IIROC does note that its new contract with CSI “focuses on continued improvement in the quality of course content”, and points out that it has negotiated a 1.75% annual cap on price increases.
Andrew Rickard -Insurance &Â Investment Journal – Sept. 24, 2015
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