SIMA urges CIRO to simplify continuing education for advisors
CERTS – the CE Reporting and Tracking System – has been in use under the former MFDA framework since the mutual fund dealer CE program launched in December 2021, according to CIRO’s published CE program update. SIMA argues that CERTS offers greater functionality, better tracking, and lower administrative burden than the alternative CIRO is considering.
The association also recommends shifting the obligation to complete and report CE from dealers to approved persons directly. SIMA says this approach would improve accountability and bring the framework in line with professional practice in other regulated fields.
This aligns with the broader direction CIRO has signalled for its integration agenda. CIRO’s 2027 agenda includes Phase 2 amendments to complete CE harmonization across mutual fund and investment dealer registrations. This covers credits, cycles, exemptions, proration, reporting, and scope.
Additional recommendations for CE harmonization
Beyond the reporting system, SIMA is pushing for several other changes to the proposed framework.
The association recommends retaining the term “credits” rather than “hours” for consistency with other regulators. It also calls for clear rules on proration, exemptions, and accreditation – areas it says remain unclear in the current consultation paper.
