(April 10 – 16:55 ET) – The Investment Dealers Association is clarifying the exam rewrite requirements for reps transferring from mutual fund dealers to IDA members.

There has been a misunderstanding regarding the effect of the examination re-write requirements of Policy 6, Part II, on mutual fund representatives transferring to the IDA and applying for full registration, says a recently published IDA notice.

If the rep seeking to make this move has been registered for mutual funds only for more than three years prior to the transfer, the policy requires that the applicant re-write both the Canadian Securities Course and the Conduct and Practices Handbook Examination.

Under Part III of the policy, the rep will be exempt from the re-write requirement if he or she has voluntarily met the continuing education requirements for a registered representative by taking Canadian Securities Institute courses.

For those who are required to re-write the CSC, the CSI offers an exam-only version. Those who have been registered for mutual funds only are required to complete the mutual fund questions on that exam.
-IE Staff