TORONTO, July 15, 2026 /CNW/ - The Securities and Investment Management Association (SIMA) today welcomed the opportunity to comment on the Canadian Investment Regulatory Organization's (CIRO) phase 2 consultation on harmonizing continuing education programs for mutual fund dealers and investment dealers. SIMA says the proposed harmonization can improve efficiency and reduce regulatory burden, but it must better reflect industry needs and existing best practices.

In its submission, SIMA urges CIRO to designate CERTS as the prescribed reporting system for continuing education credits, arguing that it offers greater functionality, better tracking, and lower administrative burden than the alternative under consideration. SIMA also recommends that the obligation to complete and report continuing education be with approved persons rather than dealers, saying that approach would improve accountability and align with professional practice in other regulated fields.

"CIRO has an important opportunity to modernize and harmonize continuing education in a way that is practical, efficient, and aligned with how firms and approved persons actually operate," said Andy Mitchell, President and CEO of SIMA. "Our members believe the framework should reduce unnecessary burden, preserve accountability at the individual level, and use systems that already work well for the industry."

In its submission, SIMA also calls for:

• keeping the term "credits" rather than "hours" for consistency with other regulators
• clear rules on proration, exemptions, and accreditation
• a two-year continuing-education cycle beginning December 1 instead of January 1
• an 18-month transition period

SIMA supports the goal of a harmonized framework but cautions that some of CIRO's proposals do not sufficiently account for the operational realities of registrants or the proportionality of the rules.

About SIMA
The Securities and Investment Management Association empowers Canada's investment industry. It is the leading voice for the securities and investment management industry, which oversees approximately $4 trillion in assets for over 20 million investors and Canadian capital markets participants. SIMA members—including investment fund managers, investment and mutual fund dealers, capital markets participants, and professional service providers—are committed to creating a resilient, innovative investment sector that fuels long-term economic growth and creates opportunities for all Canadians.

SOURCE Securities and Investment Management Association