The Private Capital Markets Association of Canada (PCMA) and the IFSE Institute (the educational arm of the Investment Funds Institute of Canada) on Thursday announced the launch of a new exempt market professionals (EMP) course.
The new course and examination are available to students starting March 31.
The course has been designed for individuals seeking registration as dealing representatives and chief compliance officers of exempt market dealers.
The course utilizes newly developed content, and focuses on the increasing complexity of exempt market products. In particular, its content on regulatory obligations has been “significantly enhanced,” the organizations say, including reps’ know your client (KYC), know your product (KYP), and suitability obligations.
“The new EMP course/exam and its refocusing towards the core client and regulatory obligations of EMDs reflects our continuing efforts to support and elevate professional practice standards across the private capital markets,” says Geoff Ritchie, vice chairman of the PCMA, in a statement. “We believe that education is key to a successful exempt market industry and the EMP course is the essential starting point in developing industry expertise, ingraining high standards of professional conduct and protecting investors.”
The PCMA and IFSE Institute, which have been working together to overhaul the course since 2012, say they “considered the feedback of the industry, regulators and past students to assess the strengths of the existing EMP course and identify areas of improvement and new areas of focus.”
“Our newest course addresses the complexity of the exempt markets and the evolving regulatory landscape that EMDs face. One main focus of the course is professional standards, which both IFSE and the PCMA believe are essential for the integrity of the industry and the protection of investors,” adds Christina Ashmore, managing director of the IFSE Institute.
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