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The Investment Funds Institute of Canada’s educational arm — the IFSE Institute — will begin winding down at the end of March and cease operations on June 30. As a result, the IFSE says students taking courses for mutual fund or exempt market proficiency can register in equivalent courses with the Canadian Securities Institute, while IFSE students in the life license qualification program (LLQP) will be transferred to SeeWhy Financial Learning Inc.

“Following a thorough evaluation of the industry landscape, IFSE Institute has made the difficult decision to wind down our operations after many years of dedicated service in providing financial education,” the IFSE says on its website.

In an email, IFIC described the industry landscape as “shifting.” In a 2024 year in review, IFIC board chairwoman Judy Goldring referenced regulatory changes, tech advancements and product innovation; CEO Andy Mitchell said the year represented a “significant new chapter” as IFIC expanded its mandate to include capital markets, and as it works to develop a “comprehensive” dealer support framework and analytics capabilities, among other things.

The IFSE will stop accepting course registrations on March 31, and students already registered in its courses for mutual fund or exempt market proficiency have until June 30 to complete them. For students required to pass an exam, the IFSE encouraged them to “schedule a date and time as soon as you feel ready.”

IFSE students already taking the LLQP have until June 15 to complete their studies with the IFSE; after that date, they will be transitioned to SeeWhy, which has been an IFSE partner for more than a decade. “We will continue to uphold the high standards of service and support that our clients have come to expect,” said Cory Snyder, director of sales and service with SeeWhy Financial Learning, in an email.

IFIC created the IFSE in 2007 to support mutual fund licensing and advisor education. After March 31, the CSI will be the only course provider for mutual fund licensing. CSI owner Moody’s didn’t respond to a request for comment.

On the investment dealer side, the Canadian Investment Regulatory Organization’s shift to an exam-based approach to proficiency at the beginning of 2026 coincides with an end to the CSI’s long-standing partnership with the regulator (previously the Investment Industry Regulatory Organization of Canada) as the sole education provider for securities licensing.