IIAC COMMENTS ON IIROC PROPOSED COMPETENCY PROFILES FOR DIRECTORS, EXECUTIVES, UDPS, CCOS, AND CFOS
The IIAC submitted comments to IIROC on its Consultation Paper (Phase II) – Competency Profiles for Directors, Executives, Ultimate Designated Persons, Chief Compliance Officers, and Chief Financial Officers (the “Consultation Paper”).
The IIAC continued to recommend that IIROC stipulate that the competency profiles will be strictly limited to assisting education service providers with the development of course content. Further, we believe that IIROC’s Proficiency Committee and educational course developers should be responsible for assisting in developing and updating course content, including competency profiles which are already part of existing educational material.
In addition, the IIAC recommended revisions to the competency profiles to better reflect the differences in dealers’ business models, the delegation of tasks, and the applicability of certain knowledge, behaviour and skill requirements.
For more information, contact Adrian Walrath.