Rear view of a business woman math problems calculations black chalk board

The CFA Institute has announced that the Investment Industry Regulatory Organization of Canada (IIROC) will recognize CFA designations under its overhauled rulebook that comes into force on June 1.

Under the new rules, aspiring advisors who pursue a CFA designation will be able to use the Level I CFA exam as an alternative to the Canadian Securities Course to qualify as an advisor.

The CFA will also meet IIROC’s requirements for registration as a portfolio manager, dealing with retail clients and for supervisory research analysts.

“By transforming IIROC’s rule book, we’ve enabled greater understanding and application of our rules for investment firms and their advisors,” said Elsa Renzella, senior vice-president, enforcement and registration at IIROC.

“We are pleased that this will help recognize CFA Institute’s high standards in meeting proficiency requirements and will streamline the registration process for those entering a career in investment management,” Renzella added.

“We are excited that the benefits of the CFA charter continue to proliferate through our relationship with IIROC,” said Margaret Franklin, president and CEO of CFA Institute.