Ethics and Professional Responsibility Credits – Jason’s Corner

We are nearing the end of the year, and it’s time to make sure you have all your continuing education in good order. I find most advisors have sufficient credits in most categories, but Compliance and Professional Responsibility credits can be a tall order.

I hear a lot of advisors complain about the requirement for these credits, or at least voice a concern that they should be easier to come by. These are very tough credit courses to build. The regulators who approve these courses have very stringent requirements.

For example, an ethics course approved for use by the Insurance Councils of Saskatchewan must make explicit reference to Saskatchewan’s Code of Conduct for Life Agents. FP Canada courses require reference to the Standards of Professional Responsibility and case studies relevant to a financial planner. IIROC’s compliance credits must explicitly discuss IIROC rules and should not focus too much on case studies. For a provider like us, who has students in multiple jurisdictions and with multiple designations and licenses, it can be challenging to produce courses that meet multiple requirements.

We do have a wide range of podcast episodes that include various credits. As an example, Damienne Lebrun-Reid from FP Canada Standards Council was kind enough to join me this past summer for an episode explaining where their

rules come from and how they impact financial planners. That episode is good for 1 FP Canada Professional Responsibility credit, and insurance credits in all jurisdictions. (You can listen to it here.)

Next Friday, the 16th, I’ll be running a 3.5 credit half-day CE course that will include one professional responsibility credit. In that session, we’ll look at stress-testing the financial plan. Applying the lessons from that session will help you help your clients to be more financially resilient. (Click here to register.)

Do you have any suggestions for ethics or compliance courses in 2023? What scenarios have you come across that made you wonder if you were taking the right approach? I would love to hear your suggestions. Please email me to share your thoughts.