Canadian Securities Course

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Lepistiku

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I was just wondering what the deal is with the Canadian Securities Course. Naturally they try on their website to create the impression that it is a requirement for working as a broker/trader/salesperson in Canada, but is it really?

Is it the equivalent of the Series 7 or 63 in the US? What licensing exams are actually legally required in Canada, specifically in Ontario, to:

a) trade equities on behalf of a broker-dealer
b) trade commodity futures and derivatives on behalf of a broker-dealer
c) advise and sell to clients

Links also appreciated in case this info is obvious, but I'm moving from abroad and not finding the info I'm looking for on the OSC website. Any info/pointers would be great, thanks folks!
 
Exactly, that's the website I was referring to in my original post where they try to create an impression of officialdom without being explicit about their relationship to regulatory bodies. So with my post I was trying to ask politely for a bit of clarification from someone in here who works/has worked in Canada and might have experience with the regulations. Thanks.
 
To be registered to trade securities in Canada you are required to complete the Canadian Securities Course and the Conduct and Practices Handbook both offered by CSI.

You can be licenced to sell just mutual funds if you complete your Investment Funds in Canada Course (at least it used to be this way), however this won't allow you to trade equities etc.
 
http://www.iiroc.ca/English/Investors/ChoosingAdvisor/Requirements/Pages/default.aspx
 
Yes to sell mutual funds you can have either the CSC or the Funds course. The CSI does have a monopoly on the education and it has to be current. You can't be unregistered for years and then ask to get registered again. They will make you take the courses again.

To be a ICPM you need a CFA and 12 months experience

or

CIM (CSC-IMT-PMT) and 4 years experience

ICPM can be with either IROC or with provincial sec commission
 
you need the CSC and CPH to trade equities and mutual funds.

you need the DFC and OLC to trade options.

and you need the DFC and FLC to trade futures.

i work for a broker and trade equities and mutual funds now. i registered yesterday for the DFC, OLC and FLC course.



Edited 2 time(s). Last edit at Friday, August 21, 2009 at 01:25PM by MattLikesAnalysis.
 
flynnch Wrote:
-------------------------------------------------------

> To be a ICPM you need a CFA and 12 months
> experience


I was wondering what is the ICPM?
 
. sorry for double post pressed refresh...



Edited 1 time(s). Last edit at Friday, August 21, 2009 at 05:24PM by Abuzz.
 
To do most finance-related jobs in Canada, you either require the CSC, or your employer will require you to GET the CSC within x months of being hired.

Having said that, the course is a joke, as is the 60% required to pass (maybe they raised it now?). Anyone with a feint business background will easily destroy the thing, as will anyone who skims over the books once.
 
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