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Modification of the Regulation respecting the issuance and renewal of representatives' certificates

Date : 5 November 2013

The Autorité des marchés financiers (AMF) has amended the Regulation respecting the issuance and renewal of representatives' certificates.

The changes will come into effect on April 1, 2014. Starting then, for the AMF to issue an F.Pl. certificate, representatives will have to have taken and passed the IQPF exam within the six years preceding the application or else take the IQPF exam again.

If more than six years have elapsed since you passed the exam, you can be exempted from taking the exam again if you meet one of the following three conditions:

  1. You held a certificate issued by the Authority in the “financial planning” sector for at least 2 years in the 6 years preceding your application for a certificate, and you satisfied the requirements pertaining to compulsory professional development;
  2. You took part in professional development activities corresponding to those provided for under the Regulation respecting the compulsory professional development of financial planners (chapter D-9.2, r. 14.1) and accumulated the equivalent of at least 40 professional development units, apportioned in the manner set out in section 3 thereof, in the 6 years preceding your application for a certificate;
  3. You were a member of a professional order with which the Authority entered into an agreement pursuant to section 59 of the Act, and were authorized, under such agreement, to use the title of “financial planner” for at least 2 years in the 6 years preceding your application for a certificate.

For example:

It is May 1, 2014. You earned your IQPF diploma in 2000, and since then you have never applied for a certificate with the AMF. You have not done any professional development, and you have never been a member of a professional order that has an agreement with the AMF about the F.Pl. title. You will have to take the IQPF exam again if you want to receive the F.Pl. certificate.

Second example:

It is still May 1, 2014. You earned your IQPF diploma in 2000. Until 2012, you did not hold the F.Pl. title and you have done no professional development. From January 2012 to February 2014, you were a member of the Ordre des Adm. A. and you were authorized by that order to use the F.Pl. title. If you meet all the other requirements stipulated in the regulation, you will not have to rewrite the IQPF exam in order to receive your F.Pl. certificate.

Click here to view the regulation.