Exempt Market Proficiency Course
Access your exclusive PCMA discount code HERE or email us at info@pcmacanada.com
In 2016, IFSE Institute and the Private Capital Markets Association of Canada (PCMA) announced the launch of the new, redesigned Exempt Market Proficiency (EMP) Course (formerly known as the Exempt Market Products Course) provided by the IFSE Institute.
The PCMA and IFSE Institute have worked 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.
For more information please click HERE and HERE.
The Exempt Market Proficiency Course Exam (and its predecessor, the Exempt Market Products Exam) is a proficiency requirement for those individuals seeking registration as Exempt Market Dealers - Dealing Representatives and Chief Compliance Officers.
The objective of the course is to provide students with a comprehensive understanding of these complex financial instruments and to prepare them to operate in the world of private capital markets. Students learn about the capital markets, the exempt market, the all-important know-your-client and know-your-product rules, ethical conduct, the private placement process, how different issuers are structured, compliance requirements and features of common exempt securities.
The final exam is administered and delivered exclusively by IFSE's testing partner, Pearson VUE. Students will be given login credentials to schedule their exam directly on the Pearson VUE website. Pearson VUE and its affiliates have over 150 testing centres across Canada to service the needs of IFSE students.
Who Should Enrol?
• Anyone wishing to become an exempt market dealer representative
• Exempt market dealer chief compliance officers
• Investment professionals looking to provide advice on exempt securities
• Anyone looking for a greater understanding of exempt securities
Topics
• Overview of the capital markets
• Regulatory framework
• Compliance for exempt market dealers
• Dealing with clients
• The private placement process
• The structures of issuers
• Real estate and mortgage investments
• Flow-through shares
• The mining industry
• The oil and gas industry
• Hedge funds
• Know your client and suitability
Pricing
Regular Price: $650
PCMA Member Price: $550
Officers', Partners', and Directors' Course
The Officers, Partners, and Directors Course (OPD) was developed to ensure that all officers, partners, and directors of a dealer firm are knowledgeable in industry regulations, policies, and practices in order to carry out both their supervisory responsibilities and the compliance requirements of securities commissions in their jurisdictions. The course covers several topics including: role of the compliance officer, manuals, securities law and compliance, dealer selling practices, and new developments and updates. The OPD exam satisfies the proficiency requirements for a Chief Compliance Officer of an EMD (in addition to the EMP) under NI 31-103.
Pricing
Regular Price: $400
PCMA Member Price: $300
Ethics for Exempt Market Dealer Representatives
This unique program was developed for Representatives working for Exempt Market Dealers. The objectives of the course are to emphasize the importance of ethical conduct and to provide concrete examples of proper and improper conduct.
Included in your registration:
• Two 2-hour recorded webinars
• PowerPoint presentation
• Online booklet (available in pdf)
At the end of the course, participants will be able to take an online exam with 20 multiple-choice questions. Students are required to obtain a mark of 60% to successfully complete the course.
Topics
• What is ethics?
• Trading without being registered
• Sale of exempt securities to non-accredited investors
• Unsuitable recommendations, know-your-client and know-your product
• Prohibited representations
• Recommending the use of leverage
• Marketing materials
• Off-book trades
• Managing conflicts of interest
• Selling securities of issuers related to the EMD
• Outside business activities
The course includes several case studies illustrating appropriate and inappropriate conduct by EMD representatives. The case studies are based on actual enforcement cases involving EMD representatives.
Pricing
Regular Price: $150
PCMA Member Price: $130
How do I register for these IFSE courses?
Course details are available on the IFSE website:
Exempt Market Professionals Course
Officers', Partners' and Directors' Course
Ethics for Exempt Market Dealer Representatives
To access the PCMA member discount code please use your login to the Members Only section of the PCMA website and click on the tab Member Tuition Discounts. (PCMA members set up their login password when they join through the website. If you have trouble accessing your login password please contact us for assistance.)
To register for these courses:
1) please proceed to the IFSE website
2) login (create an account if you don't already have one - see the "Become a Student" tab)
3) use your PCMA discount code to register and receive a discount.
Access IFSE Career Link for the latest job postings
