Procedure to reinstate your certificate or to restore your registration

The Autorité des marchés financiers (the Authority) will be notified if you failed to meet your compulsory professional development obligations and will suspend your certificate and/or your registration, depending on each case and this for each discipline and/or category of registration regarding the lack of continuing education.

Example

If your certificate’s and/or registration’s renewal date is March 17, 2010, the Authority will notify you that you will not be able to renew any sector and/or registration category for which you fail to comply with the rules relating to compulsory professional development.

How do I reinstate my certificate?

You can remedy this failure by earning the missing professional development units (PDUs), but only after the date your certificate and/or registration is suspended.

The PDUs that you could have accumulated between December 1st, 2009 and the date your certificate and/or registration is suspended cannot be used to make up the shortfall of the last training period (from December 1st, 2007 to November 30, 2009) and instead will be applied to the new training period (from December 1st, 2009 to November 30, 2011).

Example
If as at November 30, 2009 you are short 6 PDUs, you must, after the date your certificate and/or registration is suspended (by March 17, 2010 in the preceding example), take 6 hours of training in the subject concerned.

What subsequently happens?

1. You will have to send proof of training to the Chamber as soon as possible;
2. The Chamber will enter the PDUs in your record for 2008-2009 and inform the Authority;
3. You must ask the Authority to reinstate, lift its suspension or restore your certificate and/or registration; according to prescribed terms and conditions;

In addition to remedying your failure to comply with the obligations relating to compulsory professional development for the period, you will have to pay the outstanding dues and meet the conditions of reinstatement of your certificate and/or registration, which vary depending on the sector or registration category and the length of time your certificate and/or registration was suspended, and may include satisfying minimum training requirements and taking exams or internships over again.

If my certificate and/or registration is suspended, can I service my clients and continue to conduct business?

YOU CANNOT WORK in the sectors or registration categories where you are in default and for which your certificate and/or registration was suspended. You can only conduct business in the sectors for which you complied with the rules relating to compulsory professional development and hold a valid certificate and/or registration.

To resume your activities in these sectors or registration categories, you must remedy this failure by earning the necessary PDUs and reinstating your certificate and/or registration, according to prescribed terms and conditions; otherwise, you would be working illegally in the sectors or registration categories concerned.