Modern Risk and Operations Compliance for Investment Dealers

Welcome to "Modern Risk and Operations Compliance for Investment Dealers," designed for working professionals seeking an intermediate to advanced understanding of the regulatory landscape, specifically within the Canadian Investment Regulatory Organization (CIRO) framework. This program delves into the intricate world of compliance, risk management, and operational best practices, equipping you with the knowledge to navigate effectively and uphold market integrity.

This course leverages the 2025 CIRO Compliance Report as an essential resource, offering comprehensive insights into prevailing issues and challenges within the regulated financial sector. It aims to enhance investor protection and fortify market integrity by providing clear guidance crucial for understanding evolving regulatory expectations and proactively addressing potential vulnerabilities.

Key topics covered include:

• CIRO's Role and Framework: Explore the establishment and mandate of the Canadian Investment Regulatory Organization (CIRO), its Three-Year Strategic Plan, and the integration of legacy compliance teams.
• Annual Risk Assessment: Understand the harmonized Annual Risk Questionnaire (ARQ) and new risk models for Business Conduct Compliance, Financial & Operations Compliance, and Trading Conduct Compliance.
• Operational Compliance: Delve into the transition to T+1 settlement, heightened cybersecurity concerns, and CIRO's oversight of Crypto Asset Trading Platforms (CTPs).
• Financial Compliance: Review effective credit risk management, client excess margin adjustments, and reconciliation deficiencies in mutual fund dealers, alongside strategies for maintaining Risk Adjusted Capital (RAC).
• Trading Practices: Examine risks associated with algorithmic trading, client identifier requirements for listed securities, and new UMIR rules on short selling and extended failed trades.
• Regulatory Compliance: Gain insights into the Client Focused Reforms (CFR) Phase 2 sweep, Derivatives Rule Modernization Project, and the collaborative review of sales practices in Canadian bank branches.
• Registration and Proficiency: Understand changes to CIRO's registration framework, Relevant Investment Management Experience (RIME) for Portfolio Managers, and supervisory proficiency requirements.
• Membership and Continuing Education: Address timely notification of Approved Person cessations, dual-registration for dealers, and crucial Continuing Education (CE) requirements.
• Business Operations: Learn about CIRO's notification requirements for significant business alterations and the importance of maintaining current Policies and Procedures (P&Ps).

By the end of this course, you will be equipped to navigate the complex world of investment dealing, ensuring your firm's compliance, managing risk effectively, and contributing to strong market integrity.