To consult the Regulation of the Chambre de la sécurité financière respecting compulsory professional development, click here.

Qualification period from december 1, 2009 to november 30, 2011

Continuing Education Requirements

The Regulation of the Chambre de la sécurité financière respecting compulsory professional development applies to all financial products and services professionals registered or who hold a certificate issued by the Autorité des marchés financiers allowing them to conduct business in any of the following disciplines and registration categories :

  • Group savings plan brokerage and scholarship plan brokerage – these categories form a single category for the purpose of applying the regulation
  • Insurance of persons
  • Group insurance of persons

Representatives must earn the following professional development units (PDUs):

  • 10 PDUs in general subjects
  • 10 PDUs in compliance with standards, ethics and professional practice
  • 10 PDUs in topics specific to each discipline or registration category in which they are authorized to conduct business

    • PDUs in excess of the 10 PDUs required in specific topics or in compliance with standards, ethics and professional practice are credited as general subject PDUs.

    New certificate or new registration

    Any representative who registers or is issued a certificate between December 1, 2009 and November 30, 2011

    If a representative is registered or has held a certificate for more than six months, the number of PDUs to be earned in the above three subjects shall be prorated, based on a 24-month period to the number of complete months that he/she has held the certificate or has been registered.

    If a representative is registered or has held a certificate for less than six months, he/she does not have to earn any PDUs.

    Addition of a discipline or registration category
    Any representative who is already registered or who holds a certificate and is authorized to conduct business in a new discipline or is registered in a new registration category between December 1, 2009 and November 30, 2011 is deemed to have complied with the rules specific to the discipline or registration category.

    The Chambre may temporarily exempt a representative from the obligation to accumulate the requisite number of PDUs if, because of illness or injury or for family or parental reasons, he was unable to comply.

    The representative sends a written request to the Chambre asking for the exemption and provides supporting documents or a medical certificate to justify this request. Regarding the Insurance of persons and Group Insurance of persons sectors, the exemption request must specify the representative’s name, certificate number and the exemption period requested. Regarding the representative of a mutual fund dealer and the representative of a scholarship plan dealer registration categories, the exemption request must specify the representative’s name, his/her access code and the exemption period requested. The Chambre will inform the representative of its decision.

    For further information, we invite you to contact us at UFC@chambresf.com.

    Calculation with the proportion or Exemptions board from december 1, 2009 to november 30, 2011

  • * For 2 or 3 additionnal subjects or registration categories, add to the total 1 or 2 times the PDU number corresponding to the column Number of PDUs for a Specific subject or registration category .

    INFORMATION NOTICE AND NOTICE OF NON-COMPLIANCE

    Information notice
    At least 30 days prior to the end of the stipulated timeframe, i.e., November 30, 2011, the Chambre issues a notice to all representatives who have failed to earn the required number of PDUs, warning them of the consequences of failing to engage in training activities set out in the Regulation respecting the issuance and renewal of representatives’ certificates (sections 118.1 and 126).

    Notice of non-compliance
    Within 30 days following the end of the stipulated timeframe, i.e., November 30, 2011, the Chambre issues a notice of non-compliance to all representatives who have failed to earn the required number of PDUs, warning them of the consequences of failing to engage in training activities set out in the Regulation respecting the issuance and renewal of representatives’ certificates (sections 118.1 and 126).

    The Autorité des marchés financiers will be advised that we have sent out this notice of non-compliance. Under the Act respecting the distribution of financial products and services (section 218), the Regulation respecting the issuance and renewal of representatives’ certificates (sections 118.1 and 126), and the Securities Act (section 151.0.1), failure to comply with the rules governing mandatory professional development will lead to non-renewal or suspension of the certificate or registration for the disciplines or registration categories for which representative are in default.

    ENTERING PDUs ON THE WEBSITE BY MEMBERS, FIRMS OR COMPANIES

    During the period ending November 30, 2011, each representative must, on his/her behalf or through his/her firm, broker or company for whom he/she practices, send to the Chambre a copy of proof of attendance at the activities the Chambre has recognized.

    However, representatives need not send to the Chambre proof of attendance at Chambre-recognized activities if this information is communicated by representatives or their firms, brokers or companies for whom he/she practices, through the PDU record on the Chambre’s website, using the representatives’ secure access. Representatives will only then have to submit a copy of proof if the Chambre requires it to check on the accuracy of the data (section 12 of the Professional Development Regulation). In that case, paper copies must be submitted within 30 days following the Chambre’s request.

    Keeping the proof of attendance
    For 24 months following the end of the period, i.e. November 30, 2011, representatives must conserve proof of attendance and successful completion of exams and tests provided by the person, organization or educational establishment that delivered the Chambre-recognized professional development activities.

    he regulation stipulates that PDUs must be accumulated in the following subjects :

    1. GENERAL SUBJECTS
      • Management of a financial services company
      • Civil Code
      • Accounting
      • Economics
      • Finance
      • Business planning-client
      • Business planning-representative
      • Financial planning
      • Tax planning
      • Actuarial sciences
      • Legislative environment
      • Intestate and testamentary succession
    2. INSURANCE OF PERSONS
      • Client counselling
      • Underwriting or risk management
      • Disability insurance
      • Life insurance
      • Trusts
      • Risk management in insurance of persons
      • Underwriting in insurance of persons
      • Accident and sickness insurance plans
      • Segregated funds
      • Strategy of wealth accumulation and use
      • Financial needs analysis
      • Deferred income plans
      • Mutual funds
      • Investor profile and asset allocation
      • Investment strategy
      • Retirement and estate planning
      • Guaranteed Investment Certificates and linked notes
    3. GROUP INSURANCE OF PERSONS
      • Client counselling
      • Underwriting or risk management
      • Disability insurance
      • Life insurance
      • Group insurance and group annuity plans
      • Benefits and underwriting in group insurance and group annuity plans
      • Setting up a group insurance and group annuity program
      • Preparing a rate schedule and analyzing group insurance and group annuity quotes
      • Preparing a group insurance and group annuity recommendation
      • Public and private plans
      • Processing group insurance claims
      • Mutual funds
      • Guaranteed Investment Certificates and linked notes
    4. GROUP SAVINGS PLAN BROKERAGE AND SCHOLARSHIP PLAN BROKERAGE
      • Client counselling
      • Underwriting or risk management
      • Retirement and estate planning
      • Trusts
      • Segregated funds
      • Strategy of wealth accumulation and use
      • Scholarship plans
      • Investment products
      • Derivatives
      • Financial needs analysis
      • Deferred income plans
      • Mutual funds
      • Investor profile and asset allocation
      • Investment strategy
      • Guaranteed Investment Certificates and linked notes
    5. IN COMPLIANCE WITH STANDARDS, ETHICS OR PROFESSIONAL PRACTICES

    You can readily find answers to your questions at the Chambre’s site. If not, contact the Professional Development Call Center at 514 380-3011, or toll free 1 888 380-3011, by fax at 514 282-3418 or by email ufc@chambresf.com.

    Professional development enables you to keep your knowledge current and allows the Chambre to bolster the public’s trust by aiming on the competence of financial service representatives.

    To read the Regulation of the Chambre de la sécurité financière respecting compulsory professional development, click here.