July 21st, 2017

MFDA Recognizes IFSE Institute’s ETF Proficiency Course

Media Release

Toronto, ON – July 21, 2017 – The Investment Funds Institute of Canada (IFIC) and its educational arm, IFSE Institute (IFSE), announced today that IFSE has launched a new ETF course that meets the proficiency standards issued yesterday by the Mutual Fund Dealers Association of Canada (MFDA).

“As a not-for-profit training organization focused on providing best-in-class financial education, IFSE provides exceptional value to the industry,” said Paul C. Bourque, Q.C., IFIC’s president and CEO and the chair of IFSE’s board of directors. “Our new ETF course will enhance the ability of advisors to create portfolios that meet their clients’ needs, leading to better outcomes for investors.”

The MFDA’s Policy 8, which sets out the new proficiency standard, indicates that IFSE’s ETF course meets the MFDA’s requirements. IFSE was able to achieve this milestone by initiating upgrades to its ETF course based on proposals contained in the MFDA’s consultation paper, which was issued in July 2015.

“We began to modify our course early so that we could launch it as soon as the MFDA’s final proficiency standards were released,” said Christina Ashmore, managing director of IFSE Institute. “This reflects our commitment to providing ongoing opportunities for advisors to update and enhance their knowledge and proficiency so that they can meet their clients’ needs.”

IFSE’s course trains advisors on the mechanics of the product, how to obtain market quotes, types of trades accepted, disclosure and record-keeping requirements, and how trade orders are processed. It covers suitability requirements, the know-your-product rule, and due diligence.

“The new standard elevates the abilities of advisors and strengthens investor protection,” Bourque said. “We commend the regulators for this initiative.”

The course is approved for 15 continuing education (CE) credits for the Investment Industry Regulatory Organization of Canada, the Financial Planning Standards Council, the Institut québécois de planification financière, and the the Chambre de la sécurité financière.

About IFIC

The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation. The organization is proud to have served Canada’s mutual funds industry and its investors for more than 50 years.

About IFSE

IFSE Institute is the educational arm of the Investment Funds Institute of Canada. IFSE is committed to delivering best-in-class financial education and support for individuals, financial services companies and academic institutions. As a proven leader in financial services training, IFSE is entrusted by the regulators to be an approved education provider to the Canadian financial services industry. IFSE is a not-for-profit organization that has been creating affordable, innovative learning solutions since 1967. Most notably, IFSE offers the Canadian Investment Funds Course and the Exempt Market Proficiency Course leading to mutual fund and exempt market registration respectively.

For more information:
Sara Clodman, Senior Manager, Public Affairs: sclodman@ific.ca  416-309-2317
Visit www.ifse.ca or call 1-888-865-2437


MFDA Bulletin #0726-P: Approval of New MFDA Policy No. 8 – Proficiency Standard for Approved Persons Selling Exchange Traded Funds (“ETFs”)

IFSE Institute’s Exchange-Traded Funds Course