On December 1, 2021 the first 2-year cycle of mandatory New SRO (formerly MFDA) Continuing Education requirements (“CE Credits”) came into effect. This requirement was broadcast to our representatives in a Compliance Bulletin issued in November 2021 - Compliance Bulletin #2021-08 MFDA Continuing Education (“CE”) Requirements (MFDA Policy 9). A copy of the original bulletin can be viewed here.

The end of the first cycle on November 30, 2023 is rapidly approaching. 

There are several important steps that all HCI representatives must take now to ensure that they will earn the total number of CE credits required in order to maintain their mutual fund registration.

To assist our advisors, we have created the attached HUB Capital MFDA CE Credits Information and Guidance Form here, which outlines the following:

  • How to log into CERTS (CE Reporting and Tracking System) – the mandatory reporting and tracking system which all mutual fund advisors must use to update their CE Credits
  • What to do if you have not yet logged into your CERTS account or have issues logging into the system
  • How to earn CE Credits – a total of 30 MFDA CE Credits must be earned (8 Business Conduct credits; 20 Professional Development credits and 2 MFDA Compliance credits)
  • Fund Company websites offering extensive course catalogues for CE credits (e.g. Dynamic, Mackenzie and Manulife)
  • HUB Capital/HUB Financial webinars – how to access the 2 mandatory webinars for all HCI representatives that must be taken in order to earn your Business Conduct-Ethics credits
  • MFDA Compliance credits – how to access webinars to obtain your mandatory 2 MFDA Compliance credits
  • Accessing certificates for CE Credits earned through HUB Capital
  • Requirements for Licensed Assistants – must earn 30 CE credits as outlined above
  • Representatives in Quebec – requirements for representatives registered only in Quebec, and representatives registered in Quebec, and an additional jurisdiction outside of the province

Consequences of Non-Compliance

Representatives who fail to obtain the required CE credits will have their mutual fund registration suspended by HUB Capital. They may also face a fine of $2,500 by the New SRO.

In addition to this bulletin, you will be receiving an email from Compliance in the coming days with your current status with regards to CE Credits earned (e.g. Not Started, 1 to 25% complete, 26 to 50% complete, etc.). 

We will also be conducting outreach calls and sending regular communications and reminders over the coming weeks and months, to those representatives who have not started or are under 50% complete with regards to credits earned. 

In the meantime, please review the guide and take any action required to ensure that you are earning CE credits and will achieve the total number required before November 30, 2023.

If you have any questions, please reach out to your Regional Compliance Officer.

Julie Yim
Director Investment Compliance