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Launch of the New Exempt Market Proficiency Course

March 31, 2016  
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IFSE Institute and the Private Capital Markets Association of Canada Launch a new Exempt Market Proficiency Course

March 31, 2016, Toronto, ON - IFSE Institute and the Private Capital Markets Association of Canada (PCMA) are pleased to announce the launch of the new Exempt Market Proficiency (EMP) course (formerly known as the Exempt Market Products Course) provided by the IFSE Institute. The new course and examination are available to students starting March 31, 2016. The IFSE EMP course is the only prescribed proficiency course specifically focused on the exempt market in Canada and has been designed for individuals seeking registration as Dealing Representatives and Chief Compliance Officers of Exempt Market Dealers.


The PCMA and IFSE Institute are both committed to the highest standards of conduct and professionalism in the exempt market, to ensure that investors are well-served. One important way to achieve this is ensuring that individuals entering the exempt market have a solid educational foundation and the required proficiencies.


IFSE is committed to delivering best-in-class financial education and support,” notes Christina Ashmore, Managing Director, IFSE Institute. “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.”


Geoffrey Ritchie, PCMA Vice Chair, remarks, “We are pleased to launch a new EMP course in partnership with IFSE. The PCMA has been committed to enhancing the educational opportunities for new and current private capital markets professionals. We believe this joint project with IFSE is a significant milestone in those efforts. 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. 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.”


In 2012, the PCMA and IFSE Institute signed a partnership agreement to work collaboratively to update the content of the EMP Course to reflect the changing industry and educational needs of Dealing Representatives in the exempt market. The PCMA and IFSE 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.


The PCMA and IFSE developed entirely new content and updated the focus of the course materials and exam to reflect the increasing complexity of exempt market products and the rapid development of the exempt market across Canada. The new EMP Course has updated information on key industry sectors and common exempt market product structures, and has significantly enhanced content dealing with regulatory obligations, including know your client, know your product, suitability assessments and dealing with clients. The updated EMP Course will benefit members of the PCMA and students of IFSE, as well as the private capital / exempt market industry across Canada.


The new course is available online and includes interactive exercises and quizzes as well as access to a full sample exam and answer keys to assist with student learning and exam preparation. The new examination format is administered and delivered by IFSE Institute's new computer-based testing partner, Pearson VUE. This new technology platform continues IFSE's high standards for exam administration and provides IFSE’s EMP students with greater availability in exam dates, times, and locations as well as quicker turnaround times for exam results.

For more information, contact:

Christina Ashmore
Managing Director
IFSE Institute


Geoffrey Ritchie
Vice Chair
Private Capital Markets Association of Canada

About IFSE Institute
IFSE is the educational arm of The Investment Funds Institute of Canada (IFIC) and is dedicated to helping Canadians improve their financial literacy by providing best-in-class financial education and support for individuals, firms and academic institutions. IFSE is a proven leader in financial services training, 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. For more information, visit:


About Private Capital Markets Association of Canada
Since 2002, the PCMA has brought together exempt market dealers, exempt market product issuers, and professional advisers to the private capital market. The PCMA is the leading national industry voice for the private capital markets to securities regulators, government agencies, media, and other sectors of the capital markets. The PCMA provides valuable services and benefits to its members, including: regulatory and compliance resources, opportunities for professional development and industry education, exclusive insurance programs, and access to a network of private capital markets professionals from coast to coast. In 2012, the PCMA launched Private Capital Markets Awards - the first and only national industry awards celebrating the success stories of the private capital markets professionals. For more information, visit: