MFDA CE Coming Soon

MFDA CE Coming Soon

Mutual Funds Dealers Association of Canada

ILScorp currently has 2 MFDA accredited courses and more coming soon! Courses listed at the bottom of this post.

MFDA Continuing Education Requirements

MFDA Rule 1.2 and 1.2.6 and Policy 9 (collectively the “CE requirements”) came into effect on December 1, 2021. Only recognized Continuing Education (CE) activities taken on or after this date can be reported in the CE Reporting and Tracking System (“CERTS”) and count towards the fulfillment of the new CE Requirements.

All Participants must complete the required number of credits in each CE cycle.  Each cycle will be 2 years in length, starting December 1 of each odd numbered year. This aligns with the CSF’s continuing education cycle.

Participants registered as Dealing Representatives must take 30 credits total in each cycle, which is comprised of:

  • 8 Business Conduct (BC) Credits. A minimum of 1 and maximum of 2 of these Business Conduct Credits must relate to ethics. A single Business Conduct Credit consists of 1 hour of training in educational material that promotes, directs and guides ethical and compliant conduct. It includes education regarding ethical issues, MFDA Rules and Policies, other applicable legislation, and Member’s policies and procedures for complying with regulatory requirements. This would include topics such as conflicts of interest, Know-Your-Client standard and suitability, and complaint handling.
  • 20 Professional Development (PD) Credits. A single Professional Development Credit consists of 1 hour of training in educational material that maintains or enhances an advisor’s financial knowledge or proficiency.  This would include topics such as products, financial planning, and investment strategies and asset allocation.
  • 2 MFDA Compliance (MC) Credits. These must be obtained by completing continuing education activities specifically created and designated by the MFDA for the purposes of MFDA Compliance Credits.

Those Participants who are not Dealing Representatives, but are registered or designated as Chief Compliance Officers (CCOs), Ultimate Designated Persons (UDPs), Branch Managers (BMs), Alternate CCOs or Alternate BMs are required to take 10 credits total in each cycle: 8 Business Conduct credits (1 to 2 in ethics) and 2 MFDA Compliance credits.

For further guidance and information, please refer to the following: CE PARTICIPANT GUIDE

ILScorp currently has 2 courses accredited in the credit category of MFDA Business Conduct – Ethics – available now as part of the FP Canada CE Subscription.

Courses Accredited as MFDA Business Conduct – Ethics CE

The Ethical Agent Part 1

Credit Hours: 2

Credit Type: MFDA Business Conduct – Ethics / FP – Professional Responsibility

Credit #: MFDA# 1000000451

The Ethical Agent Part 2

Credit Hours: 2

Credit Type: MFDA Business Conduct – Ethics / FP – Professional Responsibility

Credit #: MFDA# 1000000452

Online Courses for RIBO CE

Online Courses for RIBO CE

NEW COURSE: Unfair or Deceptive Acts or Practices Rule = 1 RIBO Ethics CE


The work of Ontario’s Financial Services Regulatory Authority on the Unfair or Deceptive Acts or Practices (UDAP) Rule was recently approved by the Minister of Finance. This regulation is meant

to promote safety, fairness and choice for insurance consumers across Ontario. The UDAP Rule empowers FSRA to supervise insurance industry conduct and protects consumers by clearly defining outcomes that are unfair or otherwise harmful. This course simply presents the full UDAP document with a preface and introduction to the Rule.


The purpose of the course is to provide detailed information to show the broadened scope of unfair and deceitful acts and practices in the FRSA Rule and to make insurance professionals aware of the importance of being fully versed in its stipulations.

Course Content

This course covers the following topics:

Benefits of the Unfair or Deceptive Acts or Practices (UDAP) Rule

Reasons insurers, brokers and agents in the province of Ontario should review the Rule in its entirety

Interpretation of terms and references within the Rule

Unfair or Deceptive Acts or Practices as set forth in S.3-S.10

Particulars of Coming into Force

Course Learning Objectives

Successful participants of this course will:

  • Be able to identify the benefits of the UDAP Rule
  • Understand the reasons for knowing the stipulations of the Rule, especially as they relate to the following:

The broadened scope of what constitutes and unfair practice

Authorized representatives: 



Automobile insurance

Unfair claims practices 

Lowest rates – automobile insurance

  • Know the interpretation of terms and references in 1.1 (Interpretation) of the Rule
  • Be able to identify what constitutes an “unfair or deceptive act or practice” as set out in s. 3 through s. 10 of the Rule which includes the following:

Non-Compliance with Law

Unfair Discrimination

Unfair Claims Practices

Fraudulent or Abusive Conduct Related to Goods and Services Provided to a Claimant



Prohibited Conduct in Automobile Insurance Quotations, Applications or Renewals

Affiliated Insurers

Be aware of the particulars of the coming into force of the Rule

Office Closure Monday September 19, 2022

In honour of more than 70 years of service and dedication to the people of the province, the Government of BC is declaring Monday, September 19, 2022, as a day to honour the memory of Her late Majesty, Queen Elizabeth II.

On this day, provincial government offices, schools and other entities will be closed. In observance of the national day of mourning to mark the Queen’s passing, ILScorp offices will also be closed on Monday September 19th, 2022.

Thank you


2022 License Renewals – Deadline June 30th

All Alberta certificates of authority must be renewed no later than June 30. If you don’t renew your certificates on or before June 30 you will have to complete a new license application.

If I do not renew my Alberta License on-line by June 30th, is there a grace period or can I pay a late penalty/filing fee?

There is no “grace period.” Once your certificate has expired automatically on June 30, you are no longer authorized to act as an insurance agent/adjuster until a certificate has been issued. You will be required to submit a new on-line application that is approved by your recommending insurance company or Designated Representative (as applicable), and submit it with the appropriate fee payment.

I just received my first license earlier this year. Why do I have to pay again to renew my license with the Alberta Insurance Council?

The expiry dates of certificates is set out in Regulation. All certificates issued prior to May 1 expire automatically by the upcoming June 30 and must be renewed prior to that date. Certificates issued on or after May 1 will expire on June 30 of the following year. If your first license was issued on April 1, you will not be required to complete a CE requirement until you renew your certificate in the following year.

I am a non-resident agent/adjuster. Do I have to satisfy CE requirements in Alberta to renew my license?

If you currently hold a license in your resident jurisdiction for the same class of insurance license that you hold in Alberta and if you have satisfied the CE requirement in your resident jurisdiction for which you are not exempt, you will have satisfied Alberta’s CE. You will be required to report your non-resident license number on the CE status page to receive the CE exemption. A list of jurisdictions that have been determined to have a satisfactory CE requirement is posted on the AIC web site. If your jurisdiction is not listed, then you must satisfy Alberta’s CE requirement of completing 15 hours of approved courses CE per year.

Jobs that may conflict with getting your insurance license.


In the interest of fairness, transparency, and to expedite the application process, the Councils provide the following examples of other occupations which may present a conflict of interest while acting as an insurance agent, or may present an opportunity to exercise undue influence in order to secure or direct insurance business.

In response to the increased number of applications to receive, renew, reinstate or retain certificates of authority (colloquially referred to as insurance “licenses”) the Life Insurance Council (LIC), the General Insurance Council (GIC) (collectively referred to herein as the “Councils”) and the Alberta Insurance Council (AIC) issue the following Notice to the Profession and the Public.

The current Insurance Agents and Adjusters Regulation
1 provides the following:

  • Insurance agents the individual must not be in a position to use coercion or undue influence in order to control, direct or secure insurance business
  • the individual must not be engaged in another occupation or business that would place the individual in a conflict of interest position when acting as an insurance agent.

The following occupations may prevent an applicant from receiving, renewing, reinstating or retaining a certificate of authority due to a potential conflict of interest, or due to the potential of undue influence, coercion or control in order to secure or direct insurance business:

Government Employees (federal, provincial, and local municipalities);

Politicians and Legislators;

Religious and Spiritual Leaders;

Members of the Judiciary, lawyers and members of the Law Society of Alberta (or other legal societies within Canada);

Law Enforcement Employees; RCMP, municipal police, penitentiary staff, probation officers, behavioral correctional staff (remand centers etc.), youth justice workers, and investigators;

Members of an arbitrative administrative law panel (on matters of appeals or eligibility);

Physicians, psychiatrists, psychologists, counsellors, mediators, social workers, therapists, mental health clinicians and the staff who support them;

Medical examiners, crisis intervention workers, registered nurses (“RNs”), front-line nurses, residential care workers, out-patient support, rehabilitative and palliative care workers;

Employees of outreach, public access or charitable programs (both private and public) who assist a vulnerable sector of the public;

Maintenance enforcement workers, bailiffs, collections staff, or pawnbrokers;

Corporate franchise tax preparers;

Immigrant and new-comer support workers (private or public); and

Volunteer workers in any of the above fields.

These professions are provided as a guideline, only. Click here to view the full notice document.

Even if your business activities are not on the List of Other Employment and Business Activities Considered by Council, use discretion to ensure they do not have the potential to create a conflict of interest. Review your Provincial Insurance Council Code of Conduct’s Conflict of Interest Guidelines periodically on how to plan for and address situations when a conflict of interest arises, and how to manage or avoid such conflicts.




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