New resource for investors
TORONTO, Oct. 30, 2013 /CNW/ - The Investment Industry Regulatory
Organization of Canada (IIROC) today launched a new online resource to
help investors sort through the large number of financial
certifications in use, in time for Financial Literacy Month.
"The broad range of certifications can be difficult for investors to
navigate. We created the IIROC Glossary of Financial Certifications to help investors understand what these various certifications mean and
what is required to achieve them," said IIROC President and CEO, Susan
The glossary is a free, online service that makes it easy to find
information about 42 commonly used certifications in the Canadian
financial services industry in one central location. Investors can
quickly view or access information about:
the issuing organization;
the status of the professional within the issuing organization;
the type(s) of exams required to be certified;
other prerequisites including education and experience;
ongoing continuing education requirements; and
investor complaint and public disciplinary processes of the issuing
organizations, where available.
This glossary complements proposed guidance issued for comment earlier this year regarding the use of business
titles and financial certifications. IIROC is finalizing the guidance
which it will issue early in 2014 to assist member firms in supervising
the use of business titles and financial certifications.
Prior to launching the glossary, IIROC conducted user testing with
investors at various life stages, to improve the accessibility and
usability of the new resource. IIROC was encouraged by investor
feedback that described the glossary as "pretty thorough", "very
informative", "well organized" and "definitely a good educational
IIROC is also partnering with Better Business Bureau in its educational
efforts to distribute 40,000 promotional bookmarks to consumers across
the country to raise awareness about this helpful tool.
The glossary is the latest resource in IIROC's suite of investor
education tools including the popular online AdvisorReport service, which allows investors to immediately access an advisor's
educational background, and disciplinary history as part of their due
diligence. Over the past year, individuals generated over 50,000
reports to learn about the backgrounds and qualifications of advisors
working at IIROC-regulated firms.
Both resources can be accessed within IIROC's investor centre which includes other educational materials to help investors make more
informed decisions, such as a list of questions to ask when selecting a
IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces
in Canada. Created in 2008 through the consolidation of the Investment
Dealers Association of Canada and Market Regulation Services Inc.,
IIROC sets high quality regulatory and investment industry standards,
protects investors and strengthens market integrity while maintaining
efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and
enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through
setting and enforcing market integrity rules regarding trading activity
on Canadian equity marketplaces.
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
Vice President, Public Affairs
Senior Media & Public Affairs Specialist